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With a total private wealth of $651 billion, South Africa has more than twice as many billionaires as any other African country. This is understandable given the nature of the economy, which ranks as Africa’s most industrialized nation as well as the continent’s leading luxury tourist destination.
South Africa, one of Africa’s “Big 5” wealth markets, together with Egypt, Nigeria, Morocco and Kenya, accounts for more than half of the continent’s total wealth.
Despite a difficult decade, South Africa is still home to around 39,300 HNWIs with a private fortune of $1 million or more, 2,080 multimillionaires, 94 centi-millionaires with more than $100 million, and five billionaires with wealth in excess of $1 billion.
By this metric, the country is also ranked 28th in the globe, above large economies such as Turkey, Argentina, Malaysia and Thailand, all of which are prominent wealth markets in their own right.
South Africa is the largest luxury market in Africa in terms of revenue, followed by Kenya and lastly Morocco. According to statistics gathered by Billionaires.Africa, this is a list of the country’s five billionaires, who account for 3.8 percent of South Africa’s total wealth.
#1 Johann Rupert
Net worth: $9.91 billion
Source: Diversified
Johann Rupert is South Africa’s wealthiest man, with a net worth of $9.91 billion obtained from his investments in his luxury goods companies, Compagnie Financiere Richemont, Reinet Investments, and a one-percent position in the South Africa-based investment vehicle, Remgro.
Since the start of the year, his net worth has dropped by more than $2 billion, owing to a drop in the market value of his Richemont stake as investors sold off stakes in the Swiss Luxury goods holdings in response to China’s recent COVID-19 lockdown, which threatens to derail the country’s economy.
#2 Nicky Oppenheimer
Net worth: $8.5 billion
Source: Diversified
The majority of Nicky Oppenheimer’s fortune is held in private equity investments in Africa, Asia, the United States and Europe through the London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
In 2012, the millionaire sold his family’s 40-percent interest in De Beers to Anglo-American for $5.2 billion in cash, bringing his family’s 80-year ownership to an end. Since the start of 2022, the South African billionaire’s net worth has increased by more than $500 million, rising from $7.95 billion to $8.5 billion.
#3 Patrice Motsepe
Net worth: $3.3 billion
Source: Mining, Investments
Patrice Motsepe is a South African mining tycoon and the founder of African Rainbow Minerals, a South African mining and minerals firm with stakes in iron, coal, copper, gold, platinum and other precious metals mines.
Motsepe, the president of the Confederation of African Football (CAF), launched ARM in 1997 as South Africa’s first Black-owned mining corporation, and now owns 39.7 percent of the mining company, which is worth more than $1.5 billion.
His net worth has climbed by $400 million since the year began, from $2.9 billion on Jan. 1 to $3.3 billion at the time of writing this article.
#4 Koos Bekker
Net worth: $2.3 billion
Source: Media, Investments
Koos Beeker is the fourth-richest individual in South Africa and one of the richest business people in Africa, with a net worth of $2.3 billion.
His net worth has dropped from $2.8 billion to $2.3 billion since the beginning of the year, which may be attributed to a drop in the market value of his shares in the South African media conglomerate, Naspers.
#5 Michiel Le Roux
Net worth: $1.9 billion
Source: Banking
Michiel Le Roux, who founded Capitec Bank, one of South Africa’s leading retail banks, roughly 21 years ago, derives the majority of his $1.8-billion net worth from his 11.41-percent shareholding in Capitec Bank, a Stellenbosch-based banking company.
His net worth has just surpassed $1.9 billion, mainly due to a $160-million surge in the market value of his equity position in Capitec Bank.
