Who are the richest people in South Africa? South Africa is full of wealthy businessmen who have taken advantage of the booming economy of the country. Most of them make their money from different sources like mining and telecommunications.
According to Forbes, only 5 South African billionaires have been featured on the list of richest men in Africa. However, some South Africans have made their fortunes overseas hence they sometimes go unnoticed on the billionaire list.
In this article, we will be sharing with you the list of the top 10 richest men in South Africa, net worth and their source of wealth.
Top 10 Richest Men in South Africa
Below is the list of the wealthiest people in South Africa and their net worth.
1. Nicky Oppenheimer
According to Forbes, Nicky Oppenheimer is the richest man in South Africa with a net worth of $8billion. Oppenheimer is heir to his family’s fortune which sold 40% state in diamond firm DeBeers to mining group Anglo American for $5.1 billion in cash in 2012.
In 2014, he started Fireblade Aviation in Johannesburg, which operates chartered flights with its fleet of 3 planes and 2 helicopters. He also owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe.
Source of Wealth: Diamonds
Nicky Oppenheimer Net Worth: $7.3billion.
2. Johann Rupert
Johann Ruppert is the second richest person in South Africa with an estimated net worth of $7.2 billion. Ruppert is the chairman of Swiss luxury goods firm Compagnie Financiere Richemont.
The Company was formed in 1998 and is best known for the brands Cartier and Montblanc. Johann also owns 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding co. based in Luxembourg.
He is also reported to own a share of the Saracens English Rugby team and another company by the name, Anthonij Rupert Wines, which he chose to name after his brother. One of Johann Rupert’s regrets in business is hesitating to acquire 50% of the shares of Gucci whose value was $175 million then.
Source of Wealth: Luxury goods
Johann Ruppert Net Worth: $7.2billion.
3. Patrice Motsepe
Patrice Motsepe is the fourth richest man and the richest black man in South Africa with an estimated net worth of $3billion. Motsepe is the founder and chairman of African Rainbow Minerals.
Patrice became a billionaire in 2008 and the first black African on the Forbes list. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.
Patrice most profitable investment was when he bought low-producing gold mine shafts in 1997. Before then, he was the first black partner at law firm Bowman Gilfillan in Johannesburg and then started a contracting business doing mine scut work.
Source of Wealth: Mining, Self Made
Patrice Motsepe Net Worth: $3billion.
4. Koos Bekker
Koos Bekker is South Africa’s third-richest man with an estimated net worth of $2.8 billion. Bekker is well known for transforming South African newspaper publisher Naspers into an eCommerce investor & cable TV powerhouse.
Through his leadership, the company invested in Chinese Internet and media firm Tencent. This happens to be the most profitable investment he has made on companies elsewhere.
Naspers owns a 31% stake in Tencent, and Bekker serves as a non-executive director at the Chinese company.
Source of Wealth: Media, Investments, Self Made
Koos Bekker Net Worth: $2.8billion.
5. Michiel Le Roux
Michiel Le Roux is the fifth richest man in South Africa with a net worth of $1.2billion. He is the founder of Capitec Bank and owns about 11% stake.
Michiel served as chairman of the board of Capitec from 2007 to 2016 and has continued on as a board member. Le Roux previously ran Boland Bank, a small regional bank in Cape Town’s hinterland.
Source of Wealth: Banking, Self Made
Michiel Le Roux Net Worth: $1.2billion.
6. Stephen Saad
Stephen Saad is one of the richest men in South Africa. He previously had a net worth of $1.0 billion according to Forbes. But shares in his company crashed by as much as 50% in Johannesburg and net worth slashed by as much as R4bn ($276m).
Stephen Saad is the founder of South Africa’s largest pharmaceuticals maker, Aspen Pharmacare. The company traded on the Johannesburg Stock Exchange, Aspen Pharmacare markets generic medicines in 150 countries.
Saad is the chief executive and head of Aspen’s board. He became a millionaire at age 29 when he sold his share in the drug business Covan Zurich for $3 million. He won the Entrepreneur of the Year award at the All Africa Business Leaders Awards gala in October 2016.
Source of Wealth: Banking, Self Made
Stephen Saad Net Worth: $1.0billion.
7. Jannie Mouton
Jannie Mouton is one of the richest men in South Africa. He once featured on Forbes with a total net worth of $1billion. However, his net worth has dropped significantly.
Mouton is the founder and chairman of PSG Group, a listed investment holding firm. The company has interests in financial services, banking, private equity, agriculture and education.
Both of his sons serve on PSG Group’s board, and his son Piet Mouton is the CEO. Mouton publishes a book in 2011 titled “And Then They Fired Me,” which detailed how he started PSG Group after getting fired at age 48.
Source of Wealth: Financial Services, Self Made
Jannie Mouton Net Worth: $900 million.
8. Christoffel Wiese
Christoffel Wiese is among the richest billionaires in South Africa. He last featured on Forbes in 2018 with a net worth of $1.1billion. However, his net worth has dropped following a scandal involving one of his companies.
Christoffel Wiese built his Pepkor retail empire by offering bargain prices in South Africa and expanded into other African countries. He also owns 17% of publicly-traded Shoprite Holdings, which has supermarkets and furniture stores in 15 countries across Africa.
Wiese other assets include stakes in private equity firm Brait, industrial products company Invicta Holdings and mining-sector investor Pallinghurst.
Source of Wealth: Retail, Self Made
Christoffel Wiese Net Worth: $800 million.
9. Douw Steyn
Douw Steyn is among the wealthiest South African with an estimated net worth of $700 million. He is the founder of BGL Group, a UK-based insurance and financial services company, and the parent of Comparethemarket.com.
Douw Steyn Net Worth: $700 million.
10. Lauritz (Laurie) Dippenaar
Lauritz Dippenaar is one of the richest men in South Africa with a net worth of $610 million. In 1977, he cofounded Rand Consolidated Investing with partners GT Ferreira and Paul Harris.
After a series of mergers and acquisitions, FirstRand was formed in the 1990s. Dippenaar is non-executive chairman of FirstRand, which is active in banking and insurance.
In 2010, FirstRand’s RMB Holdings spun off insurance division RMI. His hobbies include cycling, canoeing and watching rugby.
Source of Wealth: Banking, Insurance, Self Made
Lauritz Dippenaar Net Worth: $650 million.