Three South Africans in line to take over empires worth over R500 billion
The eldest sons of South Africa’s three wealthiest men are in line to take over their fathers’ multi-billion-dollar empires, which span major industries such as luxury goods, minerals, and banking.
Johann Rupert, Nicky Oppenheimer, and Michiel Le Roux have accumulated billions through businesses and investments that have shaped major parts of the South African and international economies.
Combined, these three businessmen have built net worths over $30 billion (R506.3 billion), and they all have heirs to preserve these family empires.
While all three have sons who could play significant roles in their respective business interests, their succession paths are notably different.
Rupert’s wealth is largely in the international luxury goods group Richemont and the South African investment companies Remgro and Reinet Investments.
Oppenheimer’s family fortune was transformed when the family sold its stake in diamond giant De Beers and shifted its focus towards private investments, business ventures, and conservation.
Le Roux built his fortune through Capitec Bank, which grew into South Africa’s largest retail bank by customer numbers.
According to Forbes’ Real-Time Billionaires index estimates for October 2026, Rupert’s net worth stands at approximately $15.4 billion (R255 billion).
Oppenheimer’s is estimated at around $10.8 billion (R179 billion) and Le Roux’s at $3.8 billion (R63 billion).
Anton Rupert Jr. has taken on a formal role at Richemont; Jonathan Oppenheimer has been involved in managing the family’s investments following its exit from De Beers; and Michiel Le Roux Jr. has experience in investment banking and private-sector ventures.
The three cases illustrate how wealthy South African families are positioning their heirs to maintain their interests across generations, even as the businesses themselves continue to evolve.
Anton Rupert Jr.
Anton Rupert Jr. was born in 1987 and is the only son of Johann Rupert and the grandson of industrialist Anton Rupert, who started the family’s business interests through the Rembrandt Group.
The family’s commercial interests expanded significantly under Johann Rupert. In 1988, he separated the group’s international assets to establish Compagnie Financière Richemont.
This became the Swiss-based luxury goods group behind brands including Cartier, Montblanc and Dunhill.
The family’s interests also include Remgro and Reinet Investments, which hold investments across a range of sectors. Unlike his father, Anton Rupert Jr. has largely kept a low public profile.
His involvement in the family’s business interests has included board responsibilities and roles related to its private operations, such as the Franschhoek Motor Museum and L’Ormarins Wine Estate.
In September 2026, he was appointed non-executive co-deputy chairman of Richemont, alongside Bram Schot.
The appointment represents a significant step in his involvement with the international luxury goods group and places him within its corporate governance structure with his father.
Richemont owns some of the world’s best-known luxury brands, including Cartier and Van Cleef & Arpels.
While Anton Jr.’s position at Richemont gives him a formal role in the group, it does not mean that he automatically controls all of the family’s businesses.
However, Remgro added that Anton Rupert has had extensive exposure to all of the group’s businesses since 2009.
Jonathan Oppenheimer
Jonathan Oppenheimer is the son of Nicky Oppenheimer, and his great-grandfather, Ernest Oppenheimer, established the family’s position in mining through Anglo American and De Beers.
The Oppenheimers subsequently became the main players in the diamond industry for decades, with Nicky eventually serving as chairman of De Beers.
Jonathan was born in South Africa on 18 November 1969 and attended Harrow School in England before studying modern history at Christ Church, Oxford.
He later worked at NM Rothschild & Sons before joining Anglo American and De Beers, gaining experience in the financial and mining sectors.
In 2001, De Beers was delisted, and in 2012, the family sold its 40% stake in the company to Anglo American for $5.1 billion in cash.
The transaction ended approximately 85 years of Oppenheimer family dominance in the global diamond trade.
Rather than remaining dependent on mining, the family used its wealth to build a diversified investment portfolio.
Jonathan is executive chairman of Oppenheimer Generations, which oversees the family’s commercial, investment, and philanthropic interests.
These include investment businesses such as Oppenheimer Partners and Tana Africa Capital, as well as conservation initiatives such as the Tswalu Kalahari Reserve.
The family has also supported efforts focused on African economic development through the Brenthurst Foundation.
Jonathan’s role means he is already involved in managing the family’s post-mining interests.
Michiel Le Roux Jr.
Michiel Le Roux Jr. is the son of Capitec Bank founder Michiel Le Roux, who built his fortune by targeting customers underserved by traditional banking institutions.
Le Roux co-founded Capitec in 2001 with backing from PSG Group. The bank adopted a retail-focused model built around relatively simple products, accessible branches, and lower transaction costs.
It subsequently expanded into one of South Africa’s largest banking institutions by customer numbers.
His wealth is closely linked to his shareholding in Capitec. Forbes estimated his net worth at approximately $3.6 billion in October 2026.
Michiel Le Roux Jr. has followed a different career path from his father. He worked as an investment banker at Absa before leaving the sector to volunteer for the Congress of the People during the 2009 general election.
He later documented the experience in his 2010 book, The Misadventures of a COPE Volunteer: My Crash Course in Politics.
He subsequently returned to the private sector, with interests connected to family investments and enterprise finance.
Michiel le Roux Jr. co-founded Unifi in 2015 by merging a South African consumer finance business with a Zambian microlender.
The company uses digital technology and data analytics to provide simple and unsecured personal loans to underserved markets across Sub-Saharan Africa.
Other family investment activities include Fynbos Ekwiteit and Fynbos Kapitaal, through which it manages investments and interests apart from Capitec.
The family is also associated with Red Disa Investments, which owns the Stormers rugby franchise, and civic initiatives linked to the Millennium Trust.
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