{"id":261709,"date":"2018-07-30T09:06:27","date_gmt":"2018-07-30T07:06:27","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=261709"},"modified":"2018-07-30T09:06:27","modified_gmt":"2018-07-30T07:06:27","slug":"south-africas-top-10-richest-business-executives","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/261709\/south-africas-top-10-richest-business-executives\/","title":{"rendered":"South Africa’s top 10 richest business executives"},"content":{"rendered":"

The City Press has released its inaugural Wealth Index<\/a><\/strong>, focusing on the\u00a0pool of directors of companies listed on the five local stock exchanges.<\/p>\n

The index was\u00a0compiled from company documents, announcements and share registers published between 2006 and 2018, as well as from the disclosed remuneration of JSE-listed companies\u2019 directors for the 2017 financial year – including bonuses and severance packages.<\/p>\n

According to the report, the top 50\u00a0wealthiest people are worth a collective R323 billion –\u00a0roughly the same as the 2017 gross domestic product of Mozambique and Namibia combined.<\/p>\n

In 2018 just woman features on the\u00a0top 50 – Sygnia chief executive Magda Wierzycka – while the vast majority on the list are white males.<\/p>\n

City Press noted that while their fortunes were previously underpinned by\u00a0mining, this has shifted due to the\u00a0rise of financial services companies and the appearance in South Africa of frequently speculative property investment vehicles, real estate investment trusts.<\/p>\n

Wealthiest<\/strong><\/p>\n

Top spot was awarded to Ivan Glasenberg because of his 8.3% stake in Glencore – the global mining and commodities group he co-founded. It estimated that in June, Glasenberg\u2019s shares in Glencore were worth R84 billion, however they had fallen to as low as R66 billion in July.<\/p>\n

Glencore is a Swiss-based multinational mining and commodity trading company with South African roots, and although Glasenberg is no longer a resident of South Africa, he was born, raised and educated in the country.<\/p>\n

According to the City Press, prior to Steinhoff’s implosion at the end of 2017, Christo Wiese would have taken number one spot as director of the company.<\/p>\n

It noted that Wiese lost almost exactly Glasenberg\u2019s fortune \u2013 R65 billion \u2013 when his shares in Steinhoff collapsed late last year. Despite that, he is still worth R33 billion, thanks largely to his shares in Shoprite.<\/p>\n

Steinhoff also had the highest paid executives, according to the index, with disgraced Steinhoff chief executive Markus Jooste earning a salary and bonuses totaling just over R202 million in the 2016\/17 financial year.<\/p>\n

The second-best-paid executive was Steinhoff\u2019s financial director Andries la Grange, who earned R105.18 million.<\/p>\n

You can read the full report in the latest City Press<\/a><\/strong>.<\/em><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/th>\nName<\/th>\nCompany<\/th>\nTotal value of investments (R million)<\/th>\n<\/tr>\n
1<\/td>\nIvan Glasenberg<\/td>\nGlencore<\/td>\n71 796.38<\/td>\n<\/tr>\n
2<\/td>\nChristo Wiese<\/td>\nBrait SE; Pallinghurst resources; Invicta Holdings; Shoprite Holdings; Tradehold Steinhoff International Holdings.<\/td>\n32 782.36<\/td>\n<\/tr>\n
3<\/td>\nPatrice Motsepe<\/td>\nAfrican Rainbow Minerals and Sanlam<\/td>\n22 750.3<\/td>\n<\/tr>\n
4<\/td>\nLaurie Diepenaar<\/td>\nFirstRand B pref; RMB Investment Holdings and RMB Holdings.<\/td>\n15 781.73<\/td>\n<\/tr>\n
5<\/td>\nIvan Saltzman<\/td>\nDis-Chem Pharmacies<\/td>\n15 629.93<\/td>\n<\/tr>\n
6<\/td>\nStephen Saad<\/td>\nAspen Pharmacare Holdings<\/td>\n14 363.37<\/td>\n<\/tr>\n
7<\/td>\nKoos Bekker<\/td>\nNaspers<\/td>\n13 558.94<\/td>\n<\/tr>\n
8<\/td>\nJohan Rupert<\/td>\nReinet Investments; Remgro and Richemont<\/td>\n13 213.73<\/td>\n<\/tr>\n
9<\/td>\nJohn Whittaker<\/td>\nIntu Properties Plc<\/td>\n12 894.86<\/td>\n<\/tr>\n
10<\/td>\nMichiel Le Roux<\/td>\nCapite Bank Holdings<\/td>\n11 575.33<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read:\u00a0Rich South Africans are paying big money to move to Australia<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The City Press has released its inaugural Wealth Index – focusing on the\u00a0pool of directors of companies listed on the five local stock exchanges.<\/p>\n","protected":false},"author":10,"featured_media":200026,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26],"class_list":["post-261709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/261709","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=261709"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/261709\/revisions"}],"predecessor-version":[{"id":261753,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/261709\/revisions\/261753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/200026"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=261709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=261709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=261709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}