Mining magnate and Assore Limited managing director Desmond Sacco is no longer a billionaire following disappointingly steep declines in the company’s share price brought on by a marked drop in the price of iron ore.
According to Forbes, Sacco’s net worth has halved over the past year from $1,4 billion (R16,4 billion) in 2013, disqualifying him for inclusion.
Also eyebrow raising was African Rainbow Minerals CEO Patrice Motsepe’s spectacular 18,5% net worth fall over the year from $2,7 billion (R31,7 billion) last year to $2,2 billion (R25,8 billion) this year.
Motsepe was ranked 894th on the global list and 5th among SA’s richest people.
SA’s wealthiest dollar billionaires are ranked as:
- Luxury goods tycoon and Richemont chairman Johann Rupert remains the country’s richest person with an estimated net worth of $7,4 billion (R87 billion). Overall Rupert is ranked the 179th richest man in the world.
- Diamond magnate Nicky Oppenheimer comes in second with a net worth of $6,7 billion (R788 billion). (Ranked # 201 globally).
- Shoprite investor and executive director Christo Wiese is the third richest man in the country with a net worth of $6,3 billion (R74 billion). Wiese recorded the highest growth with his wealth almost doubling over the year from $3,2 billion (R37,6 billion) last year. (Ranked #225 globally)
- Former Naspers CEO Koos Bekker comes in fourth having successfully grown his wealth to $2,3 billion (R27 billion) from $1,3 billion (R15,2 billion) last year. (Ranked #810 globally)
- African Rainbow Minerals CEO and Mamelodi Sundowns football club owner Patrice Motsepe is ranked fifth locally with net worth of $2,2 billion (R258 billion). (Ranked #847 globally)
- Pharmaceutical magnate and Aspen Pharmacare founder and CEO Stephen Saad’s (corr) wealth increased by 61% to $2,1 billion (R24,6 billion) from $1,3 billion (R15,2 billion). (Ranked #894 globally)
- Allan Gray, founder of the investment management firm of the same name is said to be worth $1,6 billion (R187 billion), up from $1,3 billion (R15,2 billion) last year. (Ranked #1226 globally)