{"id":779774,"date":"2024-06-30T16:00:00","date_gmt":"2024-06-30T14:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=779774"},"modified":"2024-06-30T11:29:02","modified_gmt":"2024-06-30T09:29:02","slug":"six-richest-people-in-south-africa-right-now","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/779774\/six-richest-people-in-south-africa-right-now\/","title":{"rendered":"Six richest people in South Africa right now"},"content":{"rendered":"\n

Forbes’ Real-Time Billionaires list shows that South Africa has seven dollar billionaires, topped by Johann Rupert with a net wealth of $11.6 billion.<\/p>\n\n\n\n

Forbes’ Real-Time Billionaires rankings track the daily movements of the world\u2019s richest people based on their publicly reported assets.<\/p>\n\n\n\n

The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire.<\/p>\n\n\n\n

\u201cIndividuals whose fortunes are significantly tied to private companies will have their net worths updated once a day,\u201d Forbes said.<\/p>\n\n\n\n

The richest person in the world is South African-born Elon Musk, with a net wealth of $221 billion.<\/p>\n\n\n\n

Musk is a serial entrepreneur who has founded electric car maker Tesla, rocket producer SpaceX and tunnelling startup Boring Company.<\/p>\n\n\n\n

Most of his wealth is based on his shareholding and options in Tesla. He owns about 12% of Tesla excluding options.<\/p>\n\n\n\n

Amazon founder Jeff Bezos ranks second with a net wealth of $215 billion. He started the eCommerce giant Amazon in 1994 out of his Seattle garage.<\/p>\n\n\n\n

Bezos stepped down as CEO in 2021 to become executive chairman. He now owns slightly less than 10% of the company.<\/p>\n\n\n\n

The third richest person in the world is Bernard Arnault, the chairman and CEO of LVMH, with a net worth of $193 billion.<\/p>\n\n\n\n

Bernard Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.<\/p>\n\n\n\n

Last month, Arnault took a personal equity stake Johann Rupert\u2019s Richemont, sparking speculation of a potential partnership.<\/p>\n\n\n\n

Richemont has a strong defence against unwanted suitors because its chairman, Rupert, controls 51% of the voting rights despite owning only 10.2% of the capital.<\/p>\n\n\n\n

Over the past few years, Rupert, who is 74, has emphasised his desire to keep the group independent.<\/p>\n\n\n\n

Forbes’ Real-Time Billionaires rankings for South Africa show that Rupert tops the list, followed by Nicky Oppenheimer, and Patrice Motsepe.<\/p>\n\n\n\n

Others on the list include Naspers chairman Koos Bekker, Capitec\u2019s Michiel Le Roux, and Shoprite\u2019s Christo Wiese.<\/p>\n\n\n\n

Interestingly, four of South Africa\u2019s six billionaires, including Rupert, Bekker, Wiese, and Le Roux, attended Stellenbosch University.<\/p>\n\n\n\n

Rupert studied towards a Bachelor of Commerce (BCom) in Economics and Company Law. However, he dropped out and started a banking career in New York.<\/p>\n\n\n\n

Bekker completed a Bachelor of Arts (BA) at Stellenbosch University before doing a Bachelor of Laws (LLB) at Wits and an MBA at Columbia Business School.<\/p>\n\n\n\n

Le Roux completed Bachelor of Commerce (BCom) and Bachelor of Laws (LLB) degrees at Stellenbosch University.<\/p>\n\n\n\n

Christo Wiese completed a Bachelor of Arts (LLB) at Stellenbosch University. He was in the Wilgenhof residence with former Shoprite CEO Whitey Basson.<\/p>\n\n\n\n

Nicky Oppenheimer attended Oxford University, while Patrice Motsepe studied at the University of the Witwatersrand (Wits) and the University of Swaziland.<\/p>\n\n\n\n

Johann Rupert and Family \u2013 $11.6 billion<\/strong><\/h2>\n\n\n\n
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Much of Johann Rupert\u2019s wealth has been built off the success of his father, Anton, who started the Voorbrand Tobacco Company in the 1940s.<\/p>\n\n\n\n

This company soon became known as the Rembrandt Group, following a period of strong growth.<\/p>\n\n\n\n

Johann revolutionised Rembrandt, leading the spin-off of its international assets into Compagnie Financiere Richement.<\/p>\n\n\n\n

Remgro was formed in the early 2000s following a merger of two of Rupert\u2019s businesses \u2013 Rembrandt and VenFin. Johann is still the chairman of Remgro.<\/p>\n\n\n\n

In 2000, Rupert was appointed chairman and CEO of Richemont, and the company\u2019s non-luxury-related activities were spun off into Reinet Investments in 2008.<\/p>\n\n\n\n

Today, Rupert is the chairman of Remgro, Richemont and Reinet. The family owns a controlling stake in all three companies.<\/p>\n\n\n\n

Nicky Oppenheimer and family \u2013 $9.5 billion<\/strong><\/h2>\n\n\n\n
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The Oppenheimer family amassed their vast wealth largely through the diamond trade and mining.<\/p>\n\n\n\n

Nicky\u2019s father, Harry, was the chairman of De Beers and the mining giant Anglo-American. He oversaw the world\u2019s largest coal, diamonds, gold, and platinum suppliers.<\/p>\n\n\n\n

Nicky Oppenheimer decided to sell 40% of DeBeers to Anglo in 2012, which raised $5.2 billion in cash. He started Fireblade Aviation in 2014, which operates chartered flights.<\/p>\n\n\n\n

The Oppenheimer family contribute to conservation efforts in Southern Africa and owns 720 square miles of land across South Africa, Botswana, Zimbabwe, and Mozambique.<\/p>\n\n\n\n

Patrice Motsepe \u2013 $3.1 billion<\/strong><\/h2>\n\n\n\n
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Patrice Motsepe made most of his money through his mining company, African Rainbow Minerals, which he launched in 1997.<\/p>\n\n\n\n

African Rainbow Minerals was listed on the Johannesburg Stock Exchange in 2002. It merged with Harmony Gold and acquired Anglovaal Mining\u2019s unproductive mines in 2003.<\/p>\n\n\n\n

After this merger, Motsepe took up the role of executive chairman of ARM \u2013 a position he holds to this day.<\/p>\n\n\n\n

Ubuntu-Botho Investments (UBI), Motsepe\u2019s investment vehicle, acquired a significant stake in Sanlam as the insurer\u2019s black empowerment partner in 2004.<\/p>\n\n\n\n

As of 2022, UBI owns 17.8% of Africa\u2019s largest non-banking financial services group, and Motsepe is currently deputy chairman of Sanlam. <\/p>\n\n\n\n

Koos Bekker \u2013 $2.8 billion<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Koos Bekker is the chairman and former chief executive of the global technology powerhouse Naspers.<\/p>\n\n\n\n

Bekker steered the company away from traditional media and into pay television, mobile communication, and internet services.<\/p>\n\n\n\n

Bekker\u2019s visionary investment in Tencent, a nascent Chinese tech company in 2001, cemented his financial success.<\/p>\n\n\n\n

This gamble proved remarkably successful, as Tencent\u2019s subsequent rise drove Naspers\u2019 own growth trajectory.<\/p>\n\n\n\n

Bekker\u2019s wealth, tied to stock options within Naspers, benefited immensely from this strategic decision.<\/p>\n\n\n\n

In addition to his stake in Naspers, Bekker owns several wine estates in South Africa, including the well-known Babylonstoren in Stellenbosch.<\/p>\n\n\n\n

He also owns other properties across the country and abroad, including a multi-million-pound estate, The Newt, in Somerset in the United Kingdom.<\/p>\n\n\n\n

Michiel le Roux \u2013 $1.4 billion<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Michiel le Roux founded Capitec in 2001 and has grown significantly since then. He was chairman of Capitec for almost ten years and still owns approximately 11% of the bank.<\/p>\n\n\n\n

Le Roux trained as a lawyer but never practised law. He had previous banking experience with Boland Bank before starting Capitec with Riaan Stassen, who was the first CEO of the bank.<\/p>\n\n\n\n

He has recently come under fire for his significant donations to the Democratic Alliance through his investment holding companies, such as Fynbos Ekwiteit.<\/p>\n\n\n\n

He is a big contributor to political parties in South Africa, especially leading up to the 2024 national elections.<\/p>\n\n\n\n

Christo Wiese \u2013 $1.3 billion<\/strong><\/h2>\n\n\n\n
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Christo Wiese was born in Upington in 1941 and went on to matriculate from Paarl Boys High and graduate with an LLB from Stellenbosch University.<\/p>\n\n\n\n

Wiese joined Pep as a director under Renier van Rooyen. Wiese\u2019s father was one of the first investors in Pep, which began in small towns in rural Karoo.<\/p>\n\n\n\n

Wiese soon became chairman of Shoprite Holdings, where he worked with Whitey Basson to rapidly grow the group.<\/p>\n\n\n\n

He oversaw its expansion from a group of eight supermarkets into a company that employs over 150,000 workers and has a market value of R132 billion.<\/p>\n\n\n\n

Wiese remains the largest individual shareholder in Shoprite, with 10.67%, second only to the Government Employees Pension Fund.<\/p>\n\n\n\n

\n\n\n\n

Read: R461 million a day for South Africa\u2019s richest people since January<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The six richest people are all billionaires. However, the way they built their wealth differs significantly.<\/p>\n","protected":false},"author":10,"featured_media":777601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[4137,1896,4666,2511,20140,4138,4136],"class_list":["post-779774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-christo-wiese","tag-forbes","tag-johann-rupert","tag-koos-bekker","tag-michiel-le-roux","tag-nicky-oppenheimer","tag-patrice-motsepe"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779774","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=779774"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779774\/revisions"}],"predecessor-version":[{"id":779989,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779774\/revisions\/779989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/777601"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=779774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=779774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=779774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}