{"id":111431,"date":"2016-02-04T19:30:35","date_gmt":"2016-02-04T17:30:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=111431"},"modified":"2016-02-08T13:05:47","modified_gmt":"2016-02-08T11:05:47","slug":"south-africas-best-paid-bosses","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/111431\/south-africas-best-paid-bosses\/","title":{"rendered":"South Africa’s best paid bosses"},"content":{"rendered":"

The Sunday Times recently revealed the wealthiest South African businessmen at the end of last year, with Swiss luxury goods company, Compagnie Financiere Richemont joint-CEO Bernard Fornas topping the list with a total annual pay package of R88 million.<\/p>\n

Fornas received a salary of R46.3million for the year, along with a performance bonus of R33 million.<\/p>\n

Second on the list was Investec CEO, Hendrik du Toit who received a R78-million bonus, along with a ‘modest’ salary of R7 million.<\/p>\n

His employer, Investec, said the bonus was nothing out of the ordinary, adding that it was comparable to his peers\u00a0 abroad in the investment space.<\/p>\n

BusinessTech has compiled a list of the top 10 paid bosses in South Africa according to their base salary – excluding performance bonus, as contained in the Sunday Times Rich List.<\/p>\n

10 best paid executives in South Africa<\/strong><\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nExecutive<\/th>\nCompany and role<\/th>\nTotal basic earnings 2014 (R\u2019000)<\/th>\n<\/tr>\n
1<\/td>\nBernard Fornas<\/td>\nCo-CEO Richemont<\/td>\nR87 972<\/strong><\/td>\n<\/tr>\n
2<\/td>\nRichard Lepeu<\/td>\nCo-CEO Richemont<\/td>\nR85 105<\/strong><\/td>\n<\/tr>\n
3<\/td>\nWhitey Basson<\/td>\nCEO Shoprite<\/td>\nR49 972<\/strong><\/td>\n<\/tr>\n
4<\/td>\nKevin Gallagher<\/td>\nOperations director\u00a0\u00a0 Murray & Roberts<\/td>\nR48.932<\/strong><\/td>\n<\/tr>\n
5<\/td>\nGary Saage<\/td>\nCFO Richemont<\/td>\nR28.447<\/strong><\/td>\n<\/tr>\n
6<\/td>\nAlain Perrin<\/td>\nNon executive director Richemont<\/td>\nR27 076<\/strong><\/td>\n<\/tr>\n
7<\/td>\nMarkus Jooste<\/td>\nCEO Steinhoff<\/td>\nR25 026<\/strong><\/td>\n<\/tr>\n
8<\/td>\nErnesto Balarezo<\/td>\nManager Gold Fields<\/td>\nR19.603<\/strong><\/td>\n<\/tr>\n
9<\/td>\n*Frederick Mostert<\/td>\nExecutive director Richemont<\/td>\nR19.210<\/strong><\/td>\n<\/tr>\n
10<\/td>\nAlfred Baku<\/td>\nCEO Gold Fields<\/td>\nR18 634<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

*Frederick Mostert is no longer an Executive director of Richemont.<\/h3>\n

Interestingly, CEO at Gold Fields, Alfred Baku ranked 57th on the overall list of best paid executives in the country, having not received a performance bonus, while manager at the same company, Ernesto Balarezo, ranked 52nd.<\/p>\n

10 highest paid executives including bonuses<\/strong><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nExecutive<\/th>\nCompany and role<\/th>\nTotal earnings 2014 (R\u2019000)<\/th>\n<\/tr>\n
1<\/td>\nBernard Fornas<\/td>\nCo-CEO Richemont<\/td>\nR87 972<\/strong><\/td>\n<\/tr>\n
2<\/td>\nHendrik du Toit<\/td>\nExecutive director Investec<\/td>\nR86 068<\/strong><\/td>\n<\/tr>\n
3<\/td>\nRichard Lepeu<\/td>\nCo-CEO Richemont<\/td>\nR85 105<\/strong><\/td>\n<\/tr>\n
4<\/td>\nMark Cutifani<\/td>\nCEO Anglo American<\/td>\nR66 948<\/strong><\/td>\n<\/tr>\n
5<\/td>\nDavid Hathorn<\/td>\nCEO Mondi<\/td>\nR66 840<\/strong><\/td>\n<\/tr>\n
6<\/td>\nNicandro Durante<\/td>\nCEO BAT<\/td>\nR59 466<\/strong><\/td>\n<\/tr>\n
7<\/td>\nDavid Constable<\/td>\nCEO Sasol<\/td>\nR51 962<\/strong><\/td>\n<\/tr>\n
8<\/td>\nGlyn Lewis<\/td>\nCEO Northam Platinum<\/td>\nR51 471<\/strong><\/td>\n<\/tr>\n
9<\/td>\nWhitey Basson<\/td>\nCEO Shoprite<\/td>\nR49 972<\/strong><\/td>\n<\/tr>\n
10<\/td>\nAlan Clark<\/td>\nCEO SAB Miller<\/td>\nR49 734<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Richemont\u00a0 is a Swiss based company with a South African listing and therefore its executives are not paid in rands.<\/h3>\n

More on wealth in SA<\/h3>\n

Top 20 best paid executives in South Africa<\/a><\/strong><\/p>\n

What South African executives earn vs the world<\/a><\/span><\/strong><\/p>\n

Highest paid bosses in South Africa<\/a><\/strong><\/p>\n

Highest paid banking CEOs in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

BusinessTech has compiled a list of the top 10 paid bosses in South Africa according to their base salary – excluding performance bonus, as contained in the Sunday Times Rich List.<\/p>\n","protected":false},"author":10,"featured_media":74326,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,3120],"class_list":["post-111431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-sunday-times"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/111431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=111431"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/111431\/revisions"}],"predecessor-version":[{"id":111751,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/111431\/revisions\/111751"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/74326"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=111431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=111431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=111431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}