South Africa’s richest man

Ventures magazine has listed the richest people in Africa, naming four South Africans, lead by asset manager, Allan Gray, who is amongst the top 10.

According to Ventures, Africa has 55 billionaires with a combined fortune of $143.88 billion – an average net worth of $2.6 billion per person.

Of the 55 billionaires listed by the magazine, 20 are from Nigeria, while South Africa features the second most billionaires with nine listed, and four in the top 10.

Egypt features eight billionaires, while Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each, According to Ventures.

South Africa’s richest

Allan Gray – $8.5 billion

According to Ventures, Gray, founder of Allan Gray Limited, currently runs the largest privately owned asset manager in South Africa, with assets under management at approximately $30 billion.

“According to inside sources at the company, Allan Gray’s global mandate share portfolio has achieved an average annual return of 28% since 1974,” Ventures said.

Gray is also the founder of Orbis, an asset manager in Bermuda, which he founded in 1989. Orbis has over $21 billion under management.

Nicky Oppenheimer – $6.5 billion

As chairman of the world’s largest diamond producer, De Beers, the Oppenheimer family has held control of the company since Ernest Oppenheimer (Nicky’s Grandfather) took the reins in 1927.

In 2011, Oppenheimer made the decision to sell the family’s 40% stake in De Beers to Anglo American for $5.1 billion. Ernest Oppenheimer started a long legacy in mining, having also founded Anglo American in 1917.

Johann Rupert – $6.1 billion

Johann Rupert made his billions through the sale of luxury goods, serving as chairman and CEO of Richemont, a Swiss holding company that controls brands such as Vacheron Constantin, Cartier, Alfred Dunhill, Montblanc and Chloé.

Rupert is also the chairman of Remgro, which has South African technology interests in the CIV group of companies, and an investment in SEACOM.

Rupert’s extensive holding in luxury goods places his net worth at $6.1 billion, making him the third richest man in South Africa.

Christoffel Wiese – $3.4 billion

Christoffel Wiese is the chairman, executive director and the largest single shareholder of the African continent’s biggest retailer, low-price supermarket chain, Shoprite.

Wiese built up Shoprite from a small, eight-store chain in Cape Town, to a multi-billion dollar business, through acquisitions and successful expansion strategies over 30 years.

He also owns a 44% stake in Pepkor, the holding company for PEP discount stores, Ackermans and other retail brands.

Africa rich list top 10

# Name Industry Country Worth
1 Aliko Dangote Manufacturing Nigeria $20.2 billion
2 Allan Gray Financial services South Africa $8.5 billion
3 Mike Adenuga Oil, telecoms Nigeria $8 billion
4 Folorunsho Alakija Oil Nigeria $7.3 billion
5 Nicky Oppenheimer Mining, investments South Africa $6.5 billion
6 Johann Rupert Luxury goods and retail South Africa $6.1 billion
7 Nassef Sawiris Construction Egypt $5.2 billion
8 Gilbert Chagoury & Family Construction Nigeria $4.2 billion
9 Nathan Kirsh Real Estate, Distribution Swaziland $3.4 billion
10 Christo Wiese Retail South Africa $3.4 billion

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South Africa’s richest man