Meet the ‘Boere Buffett’: South Africa’s newest dollar billionaire

Founder and chairman of PSG Group, Jannie Mouton has been listed as the newest dollar billionaire in South Africa by Forbes in its annual Billionaire List for 2017.

Mouton, known as the “Boere Buffett” for his successes on the stock market, founded PSG Group in 1995 and has seen it grow into one of the country’s biggest business success stories.

PSG is an investment holding company with investments in a wide variety of sectors, including financial services, banking, private equity, agriculture and education.

The group has a 30.7% stake in the hugely successful Capitec Bank, with a majority shareholding in private education group, Curro (56.4%) – two companies which have recorded outstanding performances over the past few years.

According to Forbes, Mouton’s success came after being fired by his partners at a stockbroking firm he co-founded, Senekal, Mouton & Kitshoff. He started PSG Group, and has now turned it into a R61.8 billion family business.

South Africa’s richest people

Mouton joins seven other South Africans on the list of dollar billionaires, which is filled with familiar faces.

Nicky Oppenheimer, heir of the Oppenheimer diamond legacy, is ranked as the richest man in South Africa, taking the top spot from retail investor, Christo Wiese, who held the title in 2016’s official ranking.

Wiese has slipped to being ‘only’ the third richest person in the country, having seen his net worth drop from $7 billion in 2016, to $5.6 billion in 2017. Johann Rupert is ranked second, with a net worth of $6.1 billion.

# Billionaire 2017 Net Worth (US$bn) 2016 Net Worth (US$bn) Change (%)
199 Nicky Oppenheimer 7.0 6.7 +4.5%
237 Johann Rupert 6.1 5.3 +15.1%
269 Christo Wiese 5.6 7.0 -20.0%
973 Koos Bekker 2.1 1.8 +11.1%
1161 Allan Gray 1.8 2.0 -10.0%
1161 Patrice Motsepe 1.8 1.6 +12.5%
1678 Stephen Saad 1.2 1.5 -20.0%
1940 Jannie Mouton 1.0 0.9 +11.1%

World billionaires

Forbes marked a record year for global billionaires, with the number of billionaires jumping 13% to 2,043 from 1,810 in 2016. It is the first time ever that the group has pinned down more than 2,000 ten-figure-fortunes.

Global billionaire wealth was also up, with total billionaire net worth rising by 18% to $7.67 trillion.

Philanthropist and Microsoft founder Bill Gates remains the richest man in the world for the fourth year in a row, with his wealth growing even higher to $86 billion.

He is followed by investor Warren Buffet ($75.6 billion), Amazon founder Jeff Bezos ($72.8 billion), retail magnate Amancio Ortega ($71.3 billion) and Facebook creator Mark Zuckerberg ($56 billion).

You can view the full list on Forbes.

Read: These are the richest billionaires in South Africa in 2017

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Meet the ‘Boere Buffett’: South Africa’s newest dollar billionaire