{"id":803609,"date":"2024-12-15T17:00:00","date_gmt":"2024-12-15T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=803609"},"modified":"2024-12-17T09:28:27","modified_gmt":"2024-12-17T07:28:27","slug":"the-best-paid-south-african-bosses-of-2024-earning-r251000-per-day","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/803609\/the-best-paid-south-african-bosses-of-2024-earning-r251000-per-day\/","title":{"rendered":"The best-paid South African bosses of 2024 \u2013 earning R251,000 per day"},"content":{"rendered":"\n

South Africa’s top CEOs of JSE-listed companies across nine industries earned an average of R250,940 per day in 2024, with pay packages ranging from R330 million at the top to R22.5 million at the bottom. <\/p>\n\n\n\n

Leading large organisations in South Africa presents unique challenges, with these executives navigating a complex business environment shaped by economic constraints, political instability, and high levels of inequality. <\/p>\n\n\n\n

Operational challenges, including fluctuating exchange rates, skills shortages, and unreliable infrastructure, further compound the difficulties, making the role of a CEO particularly demanding.<\/p>\n\n\n\n

CEOs must ensure that their institutions remain competitive and navigate regulatory and compliance issues in a highly regulated environment.<\/p>\n\n\n\n

They must ensure that their institutions adhere to government policies while also adapting to rapidly evolving industry trends, such as digital transformation.<\/p>\n\n\n\n

Despite these hurdles, South Africa\u2019s highest-paid CEOs significantly outpaced the earnings of their peers. <\/p>\n\n\n\n

According to PwC\u2019s 2024 Directors\u2019 Remuneration and Trends Report, the median total guaranteed pay for CEOs of the top 200 JSE-listed companies was R8 million per annum. <\/p>\n\n\n\n

When combined with short-term incentives (STIs) and long-term incentives (LTIs), the median total remuneration package rose to R19.71 million annually. <\/p>\n\n\n\n

However, the top earners vastly exceeded this benchmark.<\/p>\n\n\n\n

BusinessTech looked at some of the top-earning CEOs of JSE-listed companies across several industries. <\/p>\n\n\n\n

Leading the pack was Bob van Dijk, the former CEO of Naspers, who earned an extraordinary R330 million for the year. <\/p>\n\n\n\n

This equates to R904,109 per day. Naspers\u2019 remuneration report revealed that his earnings included a basic salary of $1.4 million, a bonus of $1.4 million, and share options that elevated his total package. <\/p>\n\n\n\n

A severance payment of $747,000 (R13.5 million) was also part of his compensation, which Naspers described as an appropriate payout for loss of office.<\/p>\n\n\n

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Former Naspers CEO Bob van Dijk.<\/em><\/figcaption><\/figure><\/div>\n\n\n

Mining executive Mike Henry of BHP Billiton secured the second spot with a total pay package of $8.5 million (R151.6 million), which included base salary, cash bonuses, and long-term incentive plans.<\/p>\n\n\n\n

Banking executive Fani Titi of Investec came third, earning \u00a35.24 million (R121 million) for the year, or R331,507 per day. <\/p>\n\n\n\n

Shoprite CEO Pieter Engelbrecht also earned a notable mention, ranking fourth with a total remuneration of R83.272 million. <\/p>\n\n\n\n

His package saw a significant increase of nearly R20 million from the previous year, including deferred incentives set to vest in two years.<\/p>\n\n\n\n

Shoprite\u2019s strong performance in 2024 contributed to Engelbrecht\u2019s elevated earnings. <\/p>\n\n\n\n

The company\u2019s success continued into the first quarter of 2025, with sales growing by over 10%. <\/p>\n\n\n\n

These earnings underscore the financial rewards for CEOs leading some of South Africa\u2019s most prominent and successful companies, even amidst challenging conditions.<\/p>\n\n\n\n

The top-paid CEOs across nine industries, including those mentioned above, are listed in the table below.<\/p>\n\n\n\n

It is important to note that this list is not exhaustive, and some CEOs in these sectors may earn more than those listed below.<\/p>\n\n\n\n

Category<\/th>Company<\/th>CEO<\/th>Annual salary<\/strong><\/th>Average Per day<\/strong><\/th><\/tr><\/thead>
Technology<\/td>Naspers<\/td>Bob van Dijk*<\/td>$18.27 million
(R330 million)<\/td>		R904,109<\/td><\/tr>
Mining<\/td>BHP Billiton<\/td>Mike Henry<\/td>$8.5 million
(R151.6 million)<\/td>		R415,342<\/td><\/tr>
Banking<\/td>Investec <\/td>Fani Titi<\/td>\u00a35.24 million
(R121 million)<\/td>		R331,507<\/td><\/tr>
Retail <\/td>Shoprite<\/td>Pieter Engelbrecht<\/td>R83.27 million<\/td>R228,137<\/td><\/tr>
Insurance <\/td>Old Mutual<\/td>Iain Williamson<\/td>R32.32 million<\/td>R88,548<\/td><\/tr>
Hospitality<\/td>Tsogo Sun<\/td>Chris Du Toit<\/td>R32.28 million<\/td>R88,438<\/td><\/tr>
Diversified<\/td>Discovery<\/td>Adrian Gore<\/td>R28.31 million<\/td>R77,562<\/td><\/tr>
Property<\/td>Vukile Property<\/td>Laurence Rapp<\/td>R23.2 million<\/td>R63,562<\/td><\/tr>
Education<\/td>ADvTECH<\/td>Roy Douglas**<\/td>R22.36 million<\/td>R61,260<\/td><\/tr>
Average<\/strong><\/td>\u2014<\/td>\u2014<\/td>R91.59 million<\/strong><\/td>R250,940<\/strong><\/td><\/tr><\/tbody><\/table><\/div>
*Bob van Dijk is no longer the CEO for the 2024\/25 financial year. Van Dijk has been replaced by Fabricio Blois.
**Roy Douglas stepped down as CEO in February 2024 and was replaced by Geoff Whyte.<\/em><\/figcaption><\/figure>\n\n\n\n
\n\n\n\n

Read: How much airlines make per passenger in South Africa vs the world<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

These are the highest paid JSE-listed CEOs across nine industries in South Africa. <\/p>\n","protected":false},"author":92,"featured_media":803730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[10335,3893,7397,21225,4023,2319,7314,4038,1210,853,1107],"class_list":["post-803609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-banking","tag-ceos","tag-education","tag-hospitality","tag-insurance","tag-mining","tag-pay","tag-property","tag-retail","tag-south-africa","tag-technology"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/803609","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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=803609"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/803609\/revisions"}],"predecessor-version":[{"id":804492,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/803609\/revisions\/804492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/803730"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=803609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=803609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=803609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}