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The richest men in South Africa


all on set simon dawson all on set simon dawson Patrice Motsepe, founder and chairman of African Rainbow Mineral Ltd., Photographer: Simon Dawson/Bloomberg *** Local Caption ***
Patrice Motsepe (Picture by Getty Images)

Seven of the country’s wealthiest dollar billionaires have once again made it onto Forbes’ annual Rich List, while SA mining magnate Desmond Sacco fell off the latest list

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:

  1. 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.
  1. Diamond magnate Nicky Oppenheimer comes in second with a net worth of $6,7 billion (R78,8 billion). (Ranked # 201 globally).
  1. 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)
  1. 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)
  1. African Rainbow Minerals CEO and Mamelodi Sundowns football club owner Patrice Motsepe is ranked fifth locally with net worth of $2,2 billion (R25,8 billion). (Ranked #847 globally)
  1. Pharmaceutical magnate and Aspen Pharmacare founder and CEO Stephen Saad’s wealth increased by 61% to $2,1 billion (R24,6 billion) from $1,3 billion (R15,2 billion). (Ranked #894 globally)
  1. Allan Gray, founder of the investment management firm of the same name is said to be worth $1,6 billion (R18,7 billion), up from $1,3 billion (R15,2 billion) last year. (Ranked #1226 globally)
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Source: Destinyman  

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