10 Richest People In South Africa

These are the people you need to read more about.

By  | Jun 22, 2020, 01:43 PM  | Top of The

Looking at the many names that have made the Forbes List of the world's wealthiest people, it is quite clear that South Africa is the home of many rich people.

According to a Mail & Guardian article about the widening gap between the rich and the poor in the country, "two-thirds of South Africa's wealth is held by the top 1%, and about 90% is held by the top 10%."

The publication further reported that the number of billionaires in Africa has risen from 8 billionaires in 2010 to 25 billionaires in 2017.

It's been said that finding South Africa's richest people is tricky as some of these millionaires and billionaires have made their fortune overseas hence they sometimes go unnoticed in these millionaire/billionaire lists.

However, there is a recently updated list that has incorporated data from internationally reliable sources such as Forbes, UK's Sunday Times Rich List and Entrepreneur Mag that has given us a detailed list of South Africa's billionaires and here it is below.

Nicky Oppenheimer

Facebook/Nicky Oppenheimer

Nicky is one of the richest men in South Africa; he is reported to have a net worth of R105.6 billion to his name. Nicky is a businessman and philanthropist. He was formerly the chairman of De Beers diamond mining company, but according to Forbes, he sold his 40% stake of the mining group to Anglo American for $5.1billion in cash back in 2012. Forbes also reported that he owns 720 square miles of conservation land not only in South Africa but in Botswana & Zimbabwe.

Johann Rupert

Facebook/The World Billionaires Rank

Johann is a South African entrepreneur, and his entrepreneurial spirit derives from his father - Anton Rupert who was also one of South Africa's most prominent business Tycoons.

According to Forbes latest data, Johann's net worth is estimated at R87.8billion. Johann is known as one of South Africa's wealthiest businessmen.

He is also the chair of Swiss-based luxury goods company Richemont as well as of South African-based company Remgro.

Ivan Glasenberg


Ivan Glasenberg who had South African citizenship became a Swiss citizen back in 2011. Glasenberg is the CEO of Glencore which is the world's largest commodity trading and mining companies. Ivan's net worth is said to be R75.4 billion. 

In 2018, Ivan revealed that he is looking for the next CEO for Glencore as he plans to resign in the next couple of years.

Koos Bekker


Koos is currently a chairman of media group - Naspers and is reported to have a net worth of R34.4 billion.

Koos also co-founded M-Net/MultiChoice in the 80's which was known as the first paid TV service outside of the United States.

According to a 702 article, for 15 years Koos received no salary bonuses or perks at Naspers, he was only compensated through stock over time.

Allan William Buchanan Gray

Facebook/Allan William Buchanan Gray

Known as one of the richest men in Africa and founder of Allan Gray Investment Management, Allan has a net worth of R27.4 billion.

Allan Gray is also a philanthropist and established the Allan Gray Foundation back in 2007 to fund bursaries and scholarships to deserving South African high school students.

Patrice Motsepe


According to Forbes Patrice Motsepe became a billionaire in 2008 and the first black African on the Forbes List. Patrice is the founder and chairman of African Rainbow Minerals. 

He also has a stake in Sanlam and launched a private equity firm in 2016 focused on investing in Africa.

He is also the president of South African football club - Mamelodi Sundowns.

Patrice net worth is R25.4 billion.

Michiel le Roux


Founder of Capitec Bank back in 2001, Michiel le Roux has a net worth of R16.5 billion. He has served as chairman of the board of Capitec for 9-years. He owns 11% of Capitec Bank's stake.

Michiel was also the Managing Director of Boland Bank, which is a regional bank in Cape Town.

Christo Wiese


The businessman is said to be worth R15.1billion; his source of wealth comes from consumer retail.

Under his leadership, Shoprite began to expand as a chain of eight supermarkets in Cape Town. The supermarket brand then became a multi-billion dollar business after it was sold for R1 million and due to its expansion across the country, Shoprite was turned into a franchise brand which was strategically expanded all over South Africa and in other African countries.

Stephen Saad

Founder of Aspen Pharmacare, back in 1997 has a net worth of R14.7 billion. He became a millionaire at age 29. Saad is the chief executive and head of Aspen's board.

He's had the honour of being awarded the Entrepreneur of the Year award back in 2016 amongst many other awards he's received in his career.

Another interesting fact about Stephen is that he also became chairman of The Sharks, Durban rugby team back in 2012.

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