As of June 2021, the richest people in South Africa, third richest in the African continent, and 308th in the world were Nicky Oppenheimer and his family, with a net worth of eight billion U.S. dollars. Their net worth source was especially via the diamond market. They were followed by Johann Rupert and his family, with 7.1 billion U.S. dollars of net worth. Patrice Motsepe came next, with 2.9 billion U.S. dollars of net worth. He is the founder of African Rainbow Minerals and the first black African on the Forbes list. Ranking fourth and fifth in South Africa were Koos Bekker and Michiel Le Roux with a net worth of 2.9 billion and 1.4 billion U.S. dollars, respectively.
Over a century in the diamond market comes to an end
In late 2011, Nicky Oppenheimer and his family sold their stake in the De Beers company to the Anglo-American group which accounted for 40 percent bidding farewell to more than a century of control over the world’s diamond market. In 2010, De Beers produced 33 million carats of diamond generating 5.1 billion U.S. dollars in revenues, with their closest rivals being Alrosa with 1.8 billion U.S. dollars less. The company still operates, and its mines are mainly located in Botswana, Canada, Namibia, and South Africa.
Where does the wealth reside in the continent?
The three largest economies in the continent in terms of Gross Domestic Product (GDP), namely Nigeria, Egypt, and South Africa saw the highest concentration of private wealth in the continent, with South Africa ranking first when it came to private wealth. In fact, out of Africa’s 20 wealthiest families and individuals, 14 of them were from these economies. Since 2010, the number of high net worth individuals in the continent fluctuated peaking at 150 individuals in 2010 and reaching its lowest in 2020 at 125. High net worth individuals are people whose net assets exceed one million U.S. dollars. On the other hand, South Africa suffered from severe income inequality ranking as the most unequal country in the world with a Gini coefficient
South Africa is a country with lots of opportunities filled with aggressive business minds. These minds have taken advantage of many opportunities to make their way to Forbes. The mining industry, for instance, has the richest black man in South Africa. Read on to find out about the richest people in South Africa in 2021.
The top three richest people in South Africa, Nicky Oppenheimer, Johann Rupert and Patrice Motsepe. Photo: canva.com (modified by author)
Source: UGC South Africa is one of the world’s largest producers of platinum group metals, gold, and chromium. The country is also a major manufacturer of automobiles, machinery, chemical fertilizers, and food products. 3 Dogs Were About to Give Up… Until They Met Rescuers | Cuddle Buddies Skip Ad Who are the top 10 richest people in South Africa? Among the top wealthiest people in Africa, the Mzansi nation has carried the majority on the list. They have amassed their fortune from various businesses and careers.
The list contains the following.
1. Nicky Oppenheimer: $7.9 billion Nicky Oppenheimer. Photo: @NickyOppenheimer Source: UGC Nicky Oppenheimer is the richest man in South Africa. At seventy-three, his net worth is a whopping 7.9 billion US dollars, according to Forbes 2021.
He was formerly the chairman of De Beers diamond mining company and of its subsidiary, the Diamond Trading Company. Search on Ojoojoo.com Nigeria's First Search Engine ...For More About This Post or Search on OjoOjo.com Land of the rich:
2 South African cities that the world’s wealthiest call home 2. Johann Rupert: $7.1 billion Johann Rupert. Photo: @sjxwatches Source: Instagram Johann Rupert is also among the top ten richest people in South Africa.
He has a net worth of 7.1 billion US dollars. The seventy-one-year-old businessman deals in luxury goods. He is the chairman of Compagnie Financiere Richemont, and he is famous for brands like Montblanc and Cartier.
3. Patrice Motsepe: $2.7 billion Patrice Tlhopane Motsepe looks on during a press conference after his election as president during the 43rd CAF General Assembly in Morocco’s capital Rabat on March 12, 2021.
Patrice Motsepe is the third richest man in the country and is among the richest black people in South Africa. He has accumulated wealth from his mining business and is the founder and the chairperson of African Rainbow Minerals. In 2008, he became a billionaire and was recognised as the first black African on Forbes. At the age of fifty-nine, Patrice Motsepe has a net worth of 2.7 US billion dollars, according to Forbes 2021.
4. Koos Bekker: $2.5 billion Koos Bekker. Photo: @incwajana Source: Instagram Koos Bekker is South Africa’s fourth-richest man. His origin of wealth is the media and a couple of other investments. Koos Bekker is famous for transforming Naspers, a South African newspaper publisher, into a cable TV powerhouse. Bekker serves as the non-executive director of Tencent, a position that he went back to in 2015 after retiring from the position of CEO in 2014. Search on Ojoojoo.com Nigeria's First Search Engine ...For More About This Post or Search on OjoOjo.com Mzansi’s richest: A look at the 5 wealthiest South Africans in 2021 Koos Bekker has a net worth of 2.5 billion US dollars.
5. Stephen Saad: $1.9 billion Stephen Saad. Photo: @access24tv Source: Instagram Stephen Saad is South Africa’s top ten richest men and prominent businessman. He is also the chief executive and founder of Aspen Pharmacare, which is famous for being the largest producer of generic medicine on the continent. Stephen has a whopping net worth of 1.9 US billion dollars.
6. Michiel Le Roux: $1.6 billion Michiel Le Roux. Photo: @incwajana Source: Instagram Michael L Roux is among the richest men in South Africa, and he has accrued his wealth by investing in Capitec bank, where he is a board member. He founded the bank in 2001 and owns 11% of the bank’s share. The bank is active on the Johannesburg capital market stock exchange. Michael has served as the chairman of the Capitec bank between 2007 and 2016. Michael Le Roux has a net worth of 1.6 billion US dollars. Search on Ojoojoo.com Nigeria's First Search Engine ...For More About This Post or Search on OjoOjo.com Johann Rupert: 2nd richest man in SA increases wealth over pandemic
7. Allan WB Gray: $1.5 billion Allan WB Gray at the announcement of Allan Gray Investments donation of R1 milliard to the South African government on March 7, 2007 in Cape Town, South Africa. Photo: Die Burger Paparazzi Source: Getty Images Allan WB Gray is an old student at Rhodes University. The business magnate is responsible for founding Allan Gray Investment Management. He has accumulated a net worth of 1.5 US billion dollars, according to Celebrity Net Worth.
8. Christoffel Wiese: $1.1 billion Christoffel Weise. Photo: @botswanamarketplaceBW Source: Facebook Christoffel Wiese is South Africa’s eighth richest man. Surprisingly, Christoffel has accumulated a more significant percentage of his wealth from the retail sector. He is the largest single shareholder of the biggest retail store and the chain of ‘Shoprite’ supermarket. He is also a chairman and shareholder in Pepkor. Christoffel Wiese has a net worth of 1.1 US billion dollars.
9. Jannie Mouton: $1.06 billion Jannie Mouton. Photo: @miljoener Source: Instagram Jannie Mouton is a prominent investor. He is the chairperson and founder of the PSG group, one of the most successful investment companies in SA. The company is famous for dealing in private equities, financial services, education and agriculture. Search on Ojoojoo.com Nigeria's First Search Engine ...For More About This Post or Search on OjoOjo.com Happy birthday Black Coffee: Mzansi media personality turns 45 He has a net worth of 1.06 billion US dollars.
10. Laurie Dippenaar: $650 million Laurie Dippenaar, the former CEO of FirstRand, stands in the garden outside his house on June 9, 2008, in Bryanstown outside Johannesburg, South Africa. Photo: Per-Anders Pettersson Source: Getty Images Speaking of a self-made millionaire, Laurie Dippenaar is one such man. Apart from being a chartered accountant, he is a businessman, banker, and investor. He collaborated with GT Ferreira, and together, they co-founded FirstRand Limited, one of the high street banks in SA. He has a net worth of 650 million US dollars.
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