The Sunday Times has released its Rich List for 2015, which includes the names of the 100 richest people in the country, as well as the 100 top earners.
The list was compiled by Who Owns Whom, which extracted the shareholdings of executives in JSE listed companies, using market prices reflected on November 30, 2015.
As part of the rankings, the group also tracked executives’ total remuneration packages for the 2014 financial year.
Topping the remuneration ranking is Richemont South Africa joint-CEO, Bernard Fornas, who took home a total pay package of R88 million in 2014.
Richemont South Africa’s other joint-CEO, Richard Lepeu, took home the third biggest amount in 2014, according to the Sunday Times’ criteria, with a total pay package of R85.1 million.
Investec executive director Hendrik du Toit was the second-highest paid executive in 2015, with a significant performance bonus which took his final paycheque to R86 million for the year.
The ranking uses reported salary data from each listed company’s 2014 annual reports. In the 2015 full year, SAB Miller CEO Alan Clark took home the rand equivalent of R150 million for the year – however his 2014 salaryw as only the 10th biggest at R49.7 million.
20 highest paid executives in South Africa
|#||Executive||Company and role||Total earnings 2014 (R’000)|
|1||Bernard Fornas||Co-CEO Richemont SA||87 972|
|2||Hendrik du Toit||Executive director Investec||86 068|
|3||Richard Lepeu||Co-CEO Richemont||85 105|
|4||Mark Cutifani||CEO Anglo American||66 948|
|5||David Hathorn||CEO Mondi||66 840|
|6||Nicandro Durante||CEO BAT||59 466|
|7||David Constable||CEO Sasol||51 962|
|8||Glyn Lewis||CEO Northam Platinum||51 471|
|9||Whitey Basson||CEO Shoprite||49 972|
|10||Alan Clark||CEO SAB Miller||49 734|
|11||Kevin Gallagher||Operations Director Murray & Roberts||48 932|
|12||Rene Medori||Financial Director Anglo American||47 900|
|13||Gary Saage||CFO Richemont||46 716|
|14||Ben Stevens||Financial Director BAT||46 353|
|15||Peter Oswald||Executive Director Mondi||46 095|
|16||Andrew Mackenzie||CEO BHP Billiton||41 157|
|17||Frederick Mostert||Executive Director Richemont||39 829|
|18||Markus Jooste||CEO Steinhoff||38 492|
|19||Ingrid Johnson||Financial Director Old Mutual||35 629|
|20||Simon Crutchley||CEO AVI||34 393|
According to the Sunday Times, the biggest winners were executives being paid by dual-listed companies, where the rand’s weakness in 2015 lead to favourable conversion rates in salary.
In the local tech sector, former MTN CEO Sifiso Dabengwa’s R28 million pay in 2014 lead the charge (27th overall), followed by Datatec CEO Jen Montana with R19.3 million.