These are the richest businessmen in South Africa

The Sunday Times has published its rich-list for 2016, showing that South Africa has 53 billionaires – led by Christo Wiese who is worth R81.3 billion.

Wiese holds on to his crown despite a poor year which has seen a drop in the market value of Steinhoff Holdings, of which he is chairman, and Brait SE, in which he has a 34.63% stake.

Overall, Wiese saw his wealth decline by R23.5-billion, from R104.8 billion a year ago, according to the paper.

The richlist was compiled by Who Owns Whom, which extracted the shareholdings of  company executives, using market prices reflected on November 30, 2016.

Ivan Glasenburg, the chief executive of Glencore, is ranked second – boosted by a recovery in the commodities sector. Glencore has seen its share price climb more than 200% in 2016.

Aspen Pharamacare’s Stephen Saad is third on the list, while controversial businessman, Atul Gupta, is seventh.

Top 10 wealthiest businessmen in SA:

# Billionaire Main Company  Share holding Total fortune
1 Christo Wiese Brait SE 34.63% R81.2 billion
2 Ivan Glasenberg Glencore 8.31% R60 billion
3 Stephen Saad Aspen Pharmacare 12.13% R16 billion
4 John Whittaker Intu Properties 24.83% R15.9 billion
5 Laurie Dippenaar First Rand/RMB 1.87% R12.9 billion
6 Bruno Steinhoff Steinhoff 4.54% R12.6 billion
7 Atul Gupta Oakbay Resources 64% R10.7 billion
8 Rupert family Remgro 100% R10.6 billion
9 Jannie Mouton PSG Group 21.75% R9.8 billion
10 Koos Bekker Naspers 1.07% R9.6 billion

Patrice Motsepe is 11th on the list, having seen his wealth grow to R9.6 billion, from R3.8 billion in 2015, thanks to a 40.73% holding in African Rainbow Minerals in a year which has seen a recovery in the resources sector.

Johann Rupert dropped to 22nd on the list due to Compagnie Financiere Richemont SA’s struggles in Europe. Rupert serves as the chairman of the Swiss luxury goods firm.

The full list can be found in the December 11, 2016 edition of the Sunday Times.

Read: South Africa has a new richest man – while the fight is on for the global number one

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These are the richest businessmen in South Africa