Richest people in South Africa

The richest people on this planet have always been a public interest. We’ve taken an interest in the richest people in South Africa and found 26 wealthy individuals.

South Africa is a developing country that has faced decades of adversity. Known famously for the country that defeated apartheid lead by Nelson Mandela.

South Africa possesses many secrets in the field of wealth and many people from South Africa find themselves on the lists of the richest.

In this article, we will look at the richest people in South Africa and analyse their investments.

We will not include people such as Elon Musk as he does not reside in South Africa, however, has South African citizenship, if we did, he would be the richest person on this list.

Elizabeth Bradley

• Net worth: $37 million (R600 million)
• Main Company: Wesco Investments
• Industry: Diversified

Not many people know Elizabeth Bradley, she has a net worth of $37 million which is approximately over R500 million. She inherited her father’s investments after he passed away in 1991. Albert Wessels, her father, is known to be a South African industrialist.

He is famous for bringing the motor manufacturing giant Toyota to South Africa in 1961. She inherited his position on the board of directors for Toyota South Africa but it didn’t end there. In 1986, Bradley joined Wesco Investments as a managing director of the company which had a major stake in Toyota South Africa. Fast forward to 1991, she became chairman of Wesco Investments and when the holding company sold 25% of their major stake she walked away with R1 billion.

Sharon Wapnick

• Net worth: $48.1 million (R820 million)
• Main Company: Octodec Investments
• Industry: Real Estate

A property tycoon, Sharon Wapnik is the chairman of Octodec Investments and Premium Properties. Her father, Alec Wapnick started Octodec Investments and Premium Properties which deals with property loans. The JSE listed companies span nationwide and had made a huge impact on the property industry.

Sharon Wapnik has taken the property giants to new levels. The company grows exponentially as it moves into new cities in South Africa. The companies loan industrial workplaces, offices, retail spaces, and residential homes to anyone.

Bridgette Radebe

• Net worth: $102.4 million (R1.7 billion)
• Main Company: Mmakau Mining
• Industry: Mining

South Africa’s richest female black entrepreneur, Bridgette Radebe is a mining magnate. She is the sister to South Africa’s richest black entrepreneur Patrice Motsepe and to the first lady of South Africa Tshepo Motsepe Ramaphosa. It seems that this family has done well for themselves.

She had been in the mining business ever since the ’80s. Her expertise in the business has only matured over time. It is a rough business but this is a powerful woman with many powerful friends.

She founded the company you know as Mmakau mining, which deals with all forms of contract mining and acquisitions. The company mines platinum, gold, uranium, coal and chrome.

With so many titles to her name and being the 8th richest woman in Africa, she also is now the president of the largest mining chamber in South Africa known as the South African Mining Development Association (SAMDA) and the founding member of the new South African Fund’s Board of Trustees.

Irene Charnley

• Net worth: $107.2 million (R1.8 billion)
• Industry: Technology

A woman in IT. Irene Charnley marks her name on the richest people list because the leaps of success she has achieved by herself. A self-made millionaire and telecom mogul. She joined the MTN Group as an executive director and was vital in the negotiation and acquisition of GSM licenses in Nigeria and Iran.

As a reward, MTN gave her shares of the company worth R2 billion at the time.

Wendy Ackerman

• Net worth: $161.3 million (R2.7 billion)
• Main Company: Pepkor- Star
• Industry: Retail

Her surname might sound familiar to you in South Africa. Wendy Ackerman controls the Ackerman Family Trust along with her husband, Raymond Ackerman.

Once an English teacher, she now controls South Africa’s largest retailers. Pick ‘n Pay and Ackermans are two names South Africans are familiar with when they go to the shopping mall.

The Ackerman Family Trust owns close to 50% of Pick ‘n Pay Holdings which sees huge profits every year as being a popular store for South Africans.

Paul Harris

• Net worth: $278 million (R4.7 billion)
• Main Company: Rand Merchant Bank (RMB)
• Industry: Banking

Paul Harris is an investor and a banking genius. He owns one-third of Rand Merchant Bank, which is one of South Africa’s largest financial services holding company. His wealth grew to extents unimaginable when he joined Rand Consolidated Investments.

However, in 1985 Rand Consolidated Investments merged with Rand Merchant Bank. This was not the last merger. Again, in 1998 RMB merged with First National Bank to form First Rand.

Harris is not always interested in finance. He also was the former director of Cricket South Africa. Close relatives and friends to Harris will also tell you he also collects majestic art pieces.

At his core, Paul Harris is an entrepreneur. He transformed Ellerman House in Capetown into an exclusive and luxurious boutique hotel. He even lectured about business at Stellenbosch University.

Wendy Appelbaum

• Net worth: $308 million (R5.2 billion)
• Main Company: De Morgenzon Wine Estate
• Industry: Diversified

Wendy Appelbaum is a lady admired across South Africa. She holds the title as the richest woman in SA and leads many women empowerment campaigns. Humble and a powerful force of nature, she owns the luxurious De Morgenzon Wine Estate.

Wine is a market heavily dominated by men, however, that did not stop Appelbaum success. She is one of Africa’s most devoted philanthropists. She has donated over $30 million towards different causes. Fighting for black empowerment and woman equality.

A born leader, she holds directorships to companies across South Africa. She has also been recognized as the leading woman in business in 2006 and was the Forbes woman businesswoman in 2015.

Apart from her investments and ownership in different ventures, she also has R1 billion just from her personal assets.

Giovanni Ravazzotti

• Net worth: $362 million (R6 billion)
• Main Company: Italtile South Africa
• Industry: Ceramics

Not many people know Giovanni Ravazzotti. He is the chairman of Italtile, a ceramics company that specializes in the production of tiles. He established the tiling manufacturing giant just after moving from Italy to South Africa.

Italtile imports the designed tiles from Italy to South Africa providing urban homes with recognized Italian designs. Noticing the gap in the market, Giovanni built a fortune on distributing affordable tiles to South Africans.

He keeps a low profile due to a plane crash that cost the life of his son, Gian-Paolo Ravazzotti in 2011.

Markus Jooste

• Net worth: $423 million (R7 billion)
• Main Company: Steinhoff International
• Industry: Furniture Retail

This South African billionaire businessman makes his wealth from the furniture. He is the CEO Steinhoff International and has stakes in Pepkor Holdings.

Planning to retail the combined value of clothing and furniture. Steinhoff was founded in Germany in 1964 by Bruno Steinhoff.

Additionally, Jooste has a love for horses and his colt being awarded South African Horse of the Year, two years running.

Gus Attridge

• Net worth: $436 million (R7.2 billion)
• Main Company: Aspen Pharmacare
• Industry: Medicine

Those pain tablets you take for relief is all because of this man. He is the co-founder of Aspen Pharmacare, the world’s fifth generic drugmaker.

Attridge owns just over 4% of the South African pharmaceutical firm.

Gerrit Thomas Ferreira

• Net worth: $523 million (R9 billion)
• Main Company: RMI Holdings
• Industry: Finance

A financial genius, Gerrit Thomas Ferreira has a net worth of $523 million and is currently the 16th richest person in South Africa. He is one of the co-founders of FirstRand bank and the chairman of RMI Holdings.

Lauritz Dippenaar

• Net worth: $610 million (R10 billion)
• Main Company: Rand Consolidated Investments
• Industry: Diversified

A self-made millionaire, investor, and banker. Lauritz Dippenaar was the chairman of FirstRand. A South African financial services group. He co-founded Rand Consolidated Investing with his partners GT Paul Harris and Gerrit Thomas Ferreira.

Adrian Gore

• Net worth: $680 million (R11 billion)
• Main Company: Discovery Holdings
• Industry: Finance

Discovery Insurance and Bank are two services provided by the company that Adrian Gore has founded.

Adrian Gore created affordable medical insurance that was accepted by millions of South Africans. However, Discovery also has operations in the United States and the United Kingdom. Addicted to health, Adrian runs 9 kilometers from his home to work every morning.

Discovery is notably famous for creating the Vitality system which helps people in South Africa save money in every health aspect. Such as, going to the gym or purchasing healthy food.

Raymond Ackerman

• Net worth: $720 million (R12 billion)
• Main Company: Pick ‘n Pay Group
• Industry: Retail

Behind every powerful man, there is a much more powerful woman. You already know Wendy Ackerman. This is her husband, Raymond Ackerman. The 89-year-old has ownership of the Pick ‘n Pay group, however, stepped down as chairman in 2010.

Relaxing in his riches, he is an inspirational businessman that many across South Africa look up to.

Christoffel Wiese

• Net worth: $1.2 billion (R18 billion)
• Main Company: Shoprite Holdings
• Industry: Retail

Christoffel Wiese owns one of South Africa’s largest retailers, however, over the years he has also gotten into other ventures that may surprise people. Shoprite holdings also have ownership over the very popular Checkers, another retail company that many South Africans love.

Shoprite had also acquired Computicket which is a popular digital ticket distribution and management platform that many South African entertainment shows make use of to sell their tickets online.

Desmond Sacco

• Net worth: $1.3 billion (R21 billion)
• Main Company: Assore Group
• Industry: Mining

Desmond Sacco is the chairman of Assore Group, a mining firm based in South African. Sacco owns 32% of Assore Group and 50% of Assmang.

The company specializes in mining ore, such as magnesium.

Jannie Mouton

• Net worth: $1.4 billion (R23 billion)
• Main Company: PSG Group
• Industry: Finance

Jannie Mouton is the founder and owner of PSG Group.

However, he is also an author for writing the South African best-selling book in 2011, “And Then They Fired Me,” which tells the story of how he started the PSG Group after being fired by his partners at the stockholding firm Senekal, Mouton & Kitshoff, which he co-founded.

Mark Shuttleworth

• Net worth: $1.4 billion (R23 billion)
• Main Company: Canonical
• Industry: Technology

A man that lives for experiences, he is also the first person in South Africa to fly to space. He spent almost 10 days in Space but is also the creator of the famous operating system, Ubuntu.

He is the CEO of Canonical, a software company that works closely with developing custom linux-based operating systems for enterprises.

Michiel Le Roux

• Net worth: $1.5 billion (R25 billion)
• Main Company: Capitec Bank
• Industry: Banking

The most popular bank by choice for South Africans. Capitec Bank’s founder, Michiel Le Roux. The billionaire is behind the most affordable banking service in South Africa.

He has always had experience with banks, as he ran a small regional bank in Captown known as Boland Bank.

Today, he has an 11% stake in Capitec Bank served as a board member of till 2016.

Stephen Saad

• Net worth: $1.6 billion (R27 billion)
• Main Company: Aspen Pharmacare
• Industry: Medicine

The co-founder of Aspen Pharmacare, the largest producer of generic medicines in Africa. Also, the fifth largest in the world. Aspen sells medicine to over 150 countries.

He became a millionaire at age 29, when he sold his share of Covan Zurich for $3 million.

Gill Gray

• Net worth: $1.8 billion (R30 billion)
• Main Company: Allan Gray
• Industry: Finance

Allan Gray passed away on November 10, 2019. He left his wealth to his wife Gill Gray and family. Allan Gray created his phenomenal wealth with affordable investment management plans.

The investments company helped millions of South African gain more financial freedom through securing their money.

Patrice Motsepe

• Net worth: $2.1 billion (R35 billion)
• Main Company: African Rainbow Minerals
• Industry: Mining

Patrice Motsepe is the first richest black African. In 2016, he founded African Rainbow Capital. The firm focused on investing in emerging businesses across Africa.

The billionaire also has stakes in Sanlam and is the president and owner of Mamelodi Sundowns Football Club.

Motsepe also has his own foundation, known as the Motsepe Foundation which cares for uplifting the younger generation. In addition, it provides bursaries to the top universities in South Africa. Also, caring for people in poverty and fixing the health in small communities.

Koos Bekker

• Net worth: $2.6 billion (R43 billion)
• Main Company: Naspers
• Industry: Media

Koos Bekker is the man behind the popular media publishing company, Naspers. It has grown into a much more dominate player on the internet.

Nasper controls popular companies such as Takealot and Multichoice.

Ivan Glasenberg

• Net worth: $3.8 billion (R63 billion)
• Main Company: Glencore
• Industry: Mining

Johann Rupert

• Net worth: $5.4 billion (R90 billion)
• Main Company: Richemont
• Industry: Diversified

His face is found almost in every high-profile meeting in South Africa. The billionaire, Johann Rupert owns many companies through his investment company, Remgro.

Additionally, he is also the chairman of the Swiss-based luxury-goods company Richemont

Nicky Oppenheimer

• Net worth: $7.8 billion (R130 billion)
• Main Company: DeBeers
• Industry: Diversified