Who is the Richest man in South Africa?
Many people want to know who the richest man in South Africa is. It’s important to note that South Africa is home to some of the wealthiest people on the continent. Many of these individuals have amassed their fortunes through industries such as telecom, technology, and natural resource mining.
South Africa boasts major companies like MTN and DStv (owned by MultiChoice), and the nation is rich in mineral resources, including gold. The question of who the richest man in South Africa is has led me to do some research.
Please note that while there are many wealthy individuals in South Africa, the following list highlights those at the top of the financial hierarchy as of 2024.
1. JOHANN RUPERT – $10.1 BILLION
Johann Rupert is the richest man in South Africa as of 2024. He is the chairman of Richemont, a luxury goods company owning brands such as Cartier, Van Cleef & Arpels, and Montblanc. Rupert has also invested in tobacco, wine, and agriculture.
His business acumen has been pivotal in making Richemont one of the largest luxury goods companies globally. According to Forbes, Johann Rupert has held the position of the second richest man in Africa since 2023 after dropping from $10.7 billion to $10.1 billion in 2024.
2. NICKY OPPENHEIMER – $8.3 BILLION
The second richest man in South Africa is none other than Nicky Oppenheimer, formerly the chairman of De Beers, the world’s largest diamond mining company, is worth $8.3 billion.
Oppenheimer’s wealth remains tied to the diamond industry despite selling his stake in De Beers to Anglo American in 2012. His family is well-known for their significant contributions to business and philanthropy in South Africa.
You can also see this list of: Billionaires in South Africa by net worth
3.PATRICE MOTSEPE – $3.3 BILLION
Patrice Motsepe is the third richest man in South Africa. He is the founder of African Rainbow Minerals, a leading mining company, worth $3.3 billion. He is also the chairman of Sanlam and has interests in real estate and construction. Motsepe is renowned for his entrepreneurial spirit and contributions to the South African economy.
4. KOOS BEKKER – $2.5 BILLION
The fourth richest man in South Africa is Koos Bekker. He is responsible for transforming Naspers from a traditional newspaper publisher into a global tech investor, significantly boosting its value. His strategic foresight, particularly his investment in Tencent Holdings, has made Naspers one of the largest media companies in the world.
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5. MICHIEL LE ROUX – $1.7 BILLION
On our list, the fifth richest man in South Africa is Michiel Le Roux, he founded Capitec Bank, a major disruptor in South Africa’s banking sector, known for its simplified banking and lower fees. His innovative approach has made Capitec one of the country’s most successful banks.
6. ALLAN WB GRAY – $1.5 BILLION
Allan Gray is the sixth richest man in South Africa. Gray is the founder of Allan Gray Investment Management, known for his contrarian investment philosophy. His disciplined, long-term approach has made his firm one of South Africa’s largest investment managers.
7. STEPHEN SAAD – $1.2 BILLION
The seventh richest man in S.A is Stephen Saad, he co-founded Aspen Pharmacare, Africa’s largest pharmaceutical manufacturer. Under his leadership, Aspen has grown through strategic acquisitions, making essential medications more accessible across Africa.
8. CHRISTOFFEL WIESE – $1.1 BILLION
Christoffel Wiese is the eighth richest man in South Africa. He built Shoprite into a retail giant and has played a key role in the success of other retail companies like Pepkor and Steinhoff International. Despite setbacks with Steinhoff, Wiese remains a significant figure in the retail sector.
Shoprite is a retail giant in Africa. It has different outlets in almost all the countries in Africa. In Nigeria, Shoprite Holdings is located in every state, making it one of the largest retail stores. In comparison, Shoprite has the strength of Walmart in terms. Thanks to the creative and innovative mindset behind its development.
Read More: Top 10 Best Airlines in Nigeria 2024 • ( Local And International)
9. DESMOND SACCO – $1.1 BILLION
The ninth richest man in S.A is Desmond Sacco, the chairman of Assore, a leading mining company. His expertise in the mining industry and contributions to the South African economy have earned him significant recognition.
10. IVAN AND LYNETTE SALTZMAN – $1 BILLION
For the 10th person on my list here, we have Ivan and Lynette Saltzman. Ivan and Lynette are the founders of Dis-Chem, a leading pharmacy chain in South Africa. They have been recognized for their entrepreneurial spirit and contributions to the South African retail sector.
Dis-Chem is a popular brand in South Africa widely known for sales and distribution of medical products and pharmaceutical equipment. It has grown to play a significant influence in the lives of millions of people in S.A.
FINAL THOUGHTS
Over the years, South Africa has groomed some of the world’s richest men from the continent. The continent of Africa is naturally blessed with innovative ideas from some of the world’s smartest people with the highest IQ. The continent has also attracted a lot of investors from all over the world because of its growing wealth.
