{"id":244439,"date":"2018-05-14T18:19:04","date_gmt":"2018-05-14T16:19:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=244439"},"modified":"2018-05-14T18:24:36","modified_gmt":"2018-05-14T16:24:36","slug":"meet-the-ultra-rich-south-africans-youve-probably-never-heard-of","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/244439\/meet-the-ultra-rich-south-africans-youve-probably-never-heard-of\/","title":{"rendered":"Meet the ultra-rich South Africans you&#8217;ve probably never heard of"},"content":{"rendered":"<p>The UK&#8217;s Sunday Times Rich List for 2018 shows that the country&#8217;s wealthiest 1,000 people saw their combined fortune rise to \u00a3724 billion, up 10% from a record \u00a3658 billion in 2017.<\/p>\n<p>The paper noted that as many as 94% of the 1,000 wealthiest people built their own fortunes. Inherited wealth and old money have been all but banished from the 30th annual list.<\/p>\n<p>There are a total of 145 billionaires \u2014 also a record and 11 more than in 2017 \u2014 born, based or with substantial assets on these shores.<\/p>\n<p>The list covers individuals and families in the country, including many businessmen and women who have dual citizenship (through business, investments or residency).<\/p>\n<p>Nine South African born individuals appear on the list, including Nicky Oppenheimer and Nathan Kirsh who regularly feature on the Forbes wealth list. Also on the list is tech entrepreneur Mark Shuttlerworth, who is domiciled on the Isle of Man and who recorded a whopping \u00a3340 million increase over the past year.<\/p>\n<p>Jim Ratcliffe, who founded chemical firm Ineos, topped the list with an estimated fortune of \u00a321.05 billion. He is followed by brothers, Sri and Gopi, worth \u00a320.64 billion, while media mogul Sir Len Blavatnik is third with a fortune of \u00a315.26 billion.<\/p>\n<p>&#8220;This year\u2019s biggest risers include Sir James Dyson, whose technology business has been boosted by exports and a suite of new products. The inventor\u2019s fortune is put at \u00a39.5 billion, a rise of \u00a31.7 billion in a year,&#8221; The Sunday Times said.<\/p>\n<p>Below is a list of the nine South African-born millionaires who feature in 2018:<\/p>\n<hr \/>\n<p><strong>Nicky Oppenheimer and Family<\/strong><\/p>\n<ul>\n<li>Diamonds and Mining<\/li>\n<li>\u00a35.537 billion (2017: \u00a35.534 billion)<\/li>\n<li>Oppenheimer, who has an estate near Maidenhead, sold his 40% stake in De Beers for $5.1 billion in 2012, reinvesting much of the cash in African food company investments and venture capital.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Nathan Kirsh<\/strong><\/p>\n<ul>\n<li>Cash and carry and Property and Investment<\/li>\n<li>\u00a33.944 billion (2017: \u00a33.977 billion)<\/li>\n<li>Kirsh owns 75% of Jetro Holdings, which operates more than 100 cash-and-carry stores and restaurant depots in America. He made his first fortune with a corn-milling business before moving into wholesale supermarkets and commercial property.<\/li>\n<li>Kirsh&#8217;s son and daughter bought four apartments in Trump Tower in New York with a combined value of $56 million.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Douw Steyn and Family<\/strong><\/p>\n<ul>\n<li>Insurance<\/li>\n<li>\u00a3900 million (2017: \u00a3850 million)<\/li>\n<li>Aleksandr Orlov, the talking meerkat who stars in ads for price comparison website Comparethemarket.com, is better known in this country than South African entrepreneur Steyn, whose fortune has benefited from commission fees worth up to \u00a380 per click from the site. It is part of the Peterborough-based BGL Group in which Steyn, 65, and his family have a majority stake. Plans for a float were shelved in November when a Canadian fund bought a 30% holding for \u00a3675 million.<\/li>\n<li>Boasted no fewer than three former presidents \u2014 Bill Clinton, FW de Klerk and Nelson Mandela \u2014 at his 50th birthday party.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Manfred Gorvy and Family<\/strong><\/p>\n<ul>\n<li>Property and Food<\/li>\n<li>\u00a3873 million<\/li>\n<li>South African-born accountant Gorvy\u2019s interests range from property and venture capital to African agriculture and Refresco, an independent soft drinks and fruit juice bottler. His Hanover Acceptances group, based in London, saw assets rise to more than \u00a3823 million in 2016, the Sunday Times said.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Sir Donald Gordon and Family<\/strong><\/p>\n<ul>\n<li>Property<\/li>\n<li>\u00a3700 million (2017: \u00a3800 million)<\/li>\n<li>South African-born Gordon&#8217;s, (87) main UK operation split in 2010 into Intu Properties and Capital &amp; Counties Properties.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Mark Shuttleworth<\/strong><\/p>\n<ul>\n<li>Internet<\/li>\n<li>\u00a3500 million (2017: \u00a3160 million)<\/li>\n<li>&#8220;Shuttleworth\u2019s wealth is soaring due to the success of his business Canonical, which uses the Ubuntu open-source software it developed to allow televisions, cars and other devices to connect to the web. Netflix, Tesla and Deutsche Telekom are among 800 clients of the London-based operation, whose sales are thought to have soared by 61% to more than \u00a368 million in 2016.&#8221;<\/li>\n<li>Shuttleworth, 44, who has dual South African and British nationality, has a fortune valued at $1 billion by Bloomberg.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Tony Tabatznik and Family<\/strong><\/p>\n<ul>\n<li>Pharmaceuticals<\/li>\n<li>\u00a3500 million (no change)<\/li>\n<li>South African-born Tabatznik, 70, sold his Stevenage business Arrow Generics to US firm Watson Pharmaceuticals for $1.75 billion. He had previously netted \u00a3200 million for his family\u2019s Generics (UK) outfit.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Vivian Imerman<\/strong><\/p>\n<ul>\n<li>Spirits and Food<\/li>\n<li>\u00a3390 million (2017: \u00a3390 million)<\/li>\n<li>South African-born Imerman has been called the \u201cthe Man from Del Monte\u201d after turning around the tinned fruit company and making \u00a3380 million from his share of the business, the Sunday Times said. He later took control of Whyte &amp; Mackay, the Scottish whisky group, netting \u00a3396 million from its 2007 sale.<\/li>\n<li>Imerman, 62, is currently in charge of London investment operation Vasari, &#8220;which has a holding in Leon, the restaurant chain co-founded by David Dimbleby\u2019s son Henry&#8221;.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Richard Gnodde<\/strong><\/p>\n<ul>\n<li>Finance<\/li>\n<li>\u00a3140 million (2017: \u00a3130 million)<\/li>\n<li>South African-born Gnodde, 58, took over as CEO of Goldman Sachs International after the exit in 2016 of Michael Sherwood.<\/li>\n<li>He and his wife Kara, 50, are trustees of Kew Gardens.<\/li>\n<\/ul>\n<hr \/>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"5%\">Rank<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"\u201c30%\u201d\">Name<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"20%\">Source<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"15%\">Net Worth (GBP)<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"15%\">Change<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"15%\">Net Worth (ZAR)<\/th>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">23<\/td>\n<td>Nicky Oppenheimer and Family<\/td>\n<td>Diamonds and Mining<\/td>\n<td style=\"text-align: center;\">\u00a35.537 billion<\/td>\n<td style=\"text-align: center;\">+\u00a33 million<\/td>\n<td style=\"text-align: center;\">R92.35 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">31<\/td>\n<td>Nathan Kirsh<\/td>\n<td>Cash and carry, Property, Investment<\/td>\n<td style=\"text-align: center;\">\u00a33.944 billion<\/td>\n<td style=\"text-align: center;\">+\u00a333 million<\/td>\n<td style=\"text-align: center;\">R65.78 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">154=<\/td>\n<td>Douw Steyn and family<\/td>\n<td>Insurance<\/td>\n<td style=\"text-align: center;\">\u00a3900 million<\/td>\n<td style=\"text-align: center;\">\u00a350 million<\/td>\n<td style=\"text-align: center;\">R15.01 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">163<\/td>\n<td>Manfred Gorvy and family<\/td>\n<td>Property, Food<\/td>\n<td style=\"text-align: center;\">\u00a3873 million<\/td>\n<td style=\"text-align: center;\">+\u00a319 million<\/td>\n<td style=\"text-align: center;\">R14.56 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">197=<\/td>\n<td>Sir Donald Gordon and family<\/td>\n<td>Property<\/td>\n<td style=\"text-align: center;\">\u00a3700 million<\/td>\n<td style=\"text-align: center;\">-\u00a3100 million<\/td>\n<td style=\"text-align: center;\">R11.67 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">251=<\/td>\n<td>Mark Shuttleworth<\/td>\n<td>Internet<\/td>\n<td style=\"text-align: center;\">\u00a3500 million<\/td>\n<td style=\"text-align: center;\">+\u00a3340 million<\/td>\n<td style=\"text-align: center;\">R8.34 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">251=<\/td>\n<td>Tony Tabatznik and family<\/td>\n<td>Pharmaceuticals<\/td>\n<td style=\"text-align: center;\">\u00a3500 million<\/td>\n<td style=\"text-align: center;\">No change<\/td>\n<td style=\"text-align: center;\">R8.34 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">329=<\/td>\n<td>Vivian Imerman<\/td>\n<td>Spirits, Food<\/td>\n<td style=\"text-align: center;\">\u00a3390 million<\/td>\n<td style=\"text-align: center;\">No change<\/td>\n<td style=\"text-align: center;\">R6.50 billion<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">836=<\/td>\n<td>Richard Gnodde<\/td>\n<td>Finance<\/td>\n<td style=\"text-align: center;\">\u00a3140 million<\/td>\n<td style=\"text-align: center;\">+\u00a310 million<\/td>\n<td style=\"text-align: center;\">R2.33 billion<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/wealth\/173765\/the-two-south-africans-who-are-listed-among-the-25-richest-people-in-uk\/\" target=\"_blank\" rel=\"noopener\">The two South Africans who are listed among the 25 richest people in the UK<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK&#8217;s Sunday Times Rich List for 2018 shows that the country&#8217;s wealthiest 1,000 people saw their combined fortune rise to \u00a3724 billion, up 10% from a record \u00a3658 billion in 2017.<\/p>\n","protected":false},"author":10,"featured_media":173773,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[3120],"class_list":["post-244439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-sunday-times"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/244439","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=244439"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/244439\/revisions"}],"predecessor-version":[{"id":244459,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/244439\/revisions\/244459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/173773"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=244439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=244439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=244439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}