South Africa’s richest people

The Sunday Times has published its annual rich list, naming the wealthiest individuals in the country, along with those people who earned the most in 2013.

According to the report, the ten richest people in South Africa have a combined wealth of R205 billion – an 81.4% increase from 2013’s report.

New number one, Ivan Glasenberg, CEO of Glencore, has a total wealth of R61.3 billion, knocking off former list-topper, Shoprite investor Christo Wiese, who is estimated to be worth R35.8 billion.

The Sunday Times bases its Rich List off of total investment as a portion of the respective company’s market capitalisation. Glasenberg was not included in 2013’s ranking as Glencore had not yet been listed on the JSE.

Top 10 richest South Africans

# Name Worth*
1 Ivan Glasenberg R61.3 billion
2 Christo Wiese R35.8 billion
3 Koos Bekker R23.4 billion
4 Stephen Saad R22.1 billion
5 Patrice Motsepe R11.82 billion
6 John Whittaker R11.80 billion
7 Rembrandt trust R11.6 billion
8 Bruno Steinhoff R10.0 billion
9 William Macauly R8.9 billion
10 Laurie Dippenaar R8.5 billion

* Investment total as of November 2014

According to the Sunday Times, following the acquisition of Wiese’s Pepkor business by Steinhoff, the Shoprite head could see his fotunes bolstered by as much as R30 billion, which would put him squarely at the top of the list.

Notably, if Johann Rupert’s personal wealth was combined with that of his Rembrandt trust, his total wealth would equal R14.6 billion which would actually place him 5th on the list.

The Sunday Times observed that, despite two decades of empowerment deals, only 13 of the top 100 richest South Africans are black, with only two women listed in the top 100 as well – Aspen chair, Judy Dlamini (40th, with R1.05 billion) and lawyer, Sharon Wapnick (74th, worth R637 million).

Top Earners

In terms of salaries, the Rich List tells a different story, featuring a completely different set of names.

Anglo American CEO, Mark Cutifani ranks number one as South Africa’s top earner in 2013, having taken home R106 million for the year – up over 146% from 2012.

This is followed by Old Mutual CEO, Julian Roberts, who took home R73 million for the year.

Seven of the top 10 earners took home over R50 million in 2013, while none in the top 100 earned less than R14 million.

Top 10 earners

# Name Position Total Salary 2013
1 Mark Cutifani Anglo American CEO R106.8 million
2 Julian Roberts Old Mutual CEO R73.7 million
3 Richard Lepeu Richemont SA CEO R71.3 million
4 Simon Crutchley AVI CEO R63.1 million
5 Nic Durante BAT CEO R62.8 million
6 David Constable Sasol CEO R53.7 million
7 Whitey Basson Shoprite CEO R50.0 million
8 Graham McKay SABMiller Chairman R49.3 million
9 Sifiso Dabengwa MTN Group CEO R48.1 million
10 John Broadley Old Mutual CFO R46.5 million

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South Africa’s richest people