In terms of wealth creation over the past decade, the Johannesburg Stock Exchange (JSE) has undeniably emerged as the front-runner among all stock exchanges on the African continent.
However, regarding year-to-date growth in its all-share index and market capitalization in 2023, the JSE faces stiff competition from the Nigerian Exchange, the Zimbabwe Stock Exchange, and even the Lusaka Securities Exchange.
The JSE, at the time of writing, boasts a total market capitalization of over R18.83 trillion ($1 trillion), dwarfing the combined market capitalization of all other stock exchanges on the continent.
Despite a solid start to the year, the JSE’s all-share index has only managed to rise by 2.5 percent in 2023, primarily due to the surge in the shares of leading companies such as Naspers, FirstRand, Gold Fields, and AngloGold Ashanti, among others.
The fluctuating fortunes of South Africa’s billionaires on the JSE have further underscored the market’s dynamism.
While business tycoons like Johann Rupert, Koos Bekker, and Stephen Saad have witnessed significant increases in the market value of their stakes in JSE-listed entities, others, like Patrice Motsepe, have experienced staggering wealth losses this year.
As a result of these notable shifts in the market value of stakes held by the country’s leading businessmen in publicly listed companies, there has been a necessity to reassess their positions and reconfigure the rankings of the richest investors on the local bourse.
In line with this need, Billionaires.Africa has compiled a list of the wealthiest investors on the JSE. This ranking is based on data sourced from S&P Global Market Intelligence and publicly available documents and disclosures.
The valuations of their shares are determined using closing prices on June 26, with the values converted to U.S. dollars using prevailing exchange rates.
It is worth mentioning that Billionaires.Africa focuses on individual ownership rather than multi-generational family fortunes. In situations where the breakdown of ownership among siblings or couples is unclear, the fortune is attributed to the family’s most prominent and visible member.
Here are the 30 individuals who hold the highest stock ownership positions on the JSE:
1. Patrice Motsepe
Net worth on the JSE: $1.61-billion
Holdings: African Rainbow Minerals (ARM), Sanlam, African Rainbow Capital Investments
South Africa’s first black billionaire also has the most significant fortune on the Johannesburg Stock Exchange. His largest holding is in African Rainbow Minerals, the mining giant he founded. His 39.7-percent stake in the company is worth $961.4-million. His other assets include a 7.8-percent shareholding in financial services giant Sanlam worth $524.4-million and an indirect 27-percent stake in African Rainbow Capital Investments worth $125.6 million.Â
2. Johann Rupert
Net worth on the JSE: $1.43 billion
Holdings: Remgro, Reinet
Johann Rupert, Africa’s richest man, owns a 6.87-percent stake in investment holding company Remgro worth over $357.2-million and a 26.84-percent piece of Reinet. This investment vehicle is listed on the Luxembourg and Johannesburg stock exchanges. His stake in Reinet is worth over $1.08 billion.
3. Michiel Le Roux
Net worth on the JSE: $1.07 billion
Holdings: Capitec
South African billionaire banker Michiel le Roux founded Capitec Bank in 2001. The bank found extraordinary success in targeting the middle class of South Africa, focusing on empowering these individuals to take control of their finances. Michiel le Roux, who served as chairman of the board of Capitec
from 2007 to 2016, owns an 11.39-percent stake worth more than $1.07 billion.
4 & 5. Najib & Taha Mikati own 6.72 percent of MTN worth $893,955,315
Net worth on the JSE: $893,955,315
Holdings: MTN
Former Lebanese Prime Minister Najib Mikati and his brother Taha Mikati own 6.74 percent of MTN Group, Africa’s largest mobile telecoms firm. They own the stake through their private investment company, M1 Limited.
6. Christoffel F. Wiese
Net worth on the JSE: $863.4 million
Holdings: Shoprite, Brait, Invicta
Billionaire Christo Wiese owns 11.63 percent of Shoprite Holdings, which operates supermarkets and furniture stores across South Africa. His other holdings include a 28.52-percent stake in investment firm Brait and a 19.23-percent in Invicta Holdings, an investment holding company for enterprises that distribute and retail bearing and transmission equipment.
7. Piet Mouton
Net worth on the JSE: $690.4 million
Holdings: Capitec Bank, PSG Konsult, Curro Holdings
Petrus Johannes Mouton (Piet Mouton), a son of renowned South African tycoon Jannie Mouton, founder of PSG Group, owns a 5.78-percent stake in Capitec Bank worth $552.1-million. He also holds a 14.64-percent stake in PSG Konsult worth $ 129.9 million and a 3.17-percent stake in Curro Holdings worth more than $8.4 million.
8. Koos Bekker
Net worth on the JSE: $676.4 million
Holdings: Naspers
Koos Bekker is renowned for transforming South African newspaper publisher Naspers into a powerhouse in e-commerce and cable television. Bekker, who stepped down as CEO of Naspers in March 2014, still owns a 0.88-percent stake in the company. His stake is worth $676.4 million.
9. Jannie Mouton
Net worth on the JSE: $595.4 million
Holdings: Capitec, PSG Konsult
Jannie Mouton, renowned for founding South African investment holding firm PSG Group, owns a 5.11-percent stake in Capitec Bank through his Jf Mouton Familietrust. The stake is worth over $481.7 million. He also has a 12.83-percent shareholding in PSG Konsult worth $113.6 million.
10. Stephen Saad
Net worth on the JSE: $553.3 million
Holdings: Aspen Pharmacare
Stephen Saad, the founder of publicly traded Aspen Pharmacare, South Africa’s largest pharmaceuticals maker, was the first African pharma entrepreneur to lay claim to a billion-dollar fortune. He’s no longer as wealthy as he used to be, but he is still worth a lot. He owns 12.5 percent of Aspen Pharmacare, currently worth around $ 553.3 million.
11. Zak Calisto
Net worth on the JSE: $543.3 million
Holdings: Karooooo
South African tycoon Zak Calisto is the founder of Karooooo Limited. Karooooo is the 100 percent owner of Cartrack, a company that provides real-time mobility data analytics solutions for smart transportation. The Singapore-based mobility platform has recently evolved into a major international provider of smart transportation management and analytics, serving customers in 23 countries across five continents and supporting more than 1.4 million users worldwide. Karooooo has a dual listing on Nasdaq and the Johannesburg Stock Exchange. Calisto owns a 74.73-percent stake worth $543.3 million.
12. Ivan Saltzman
Net worth on the JSE: $384.6-million
Holdings: Dis-Chem Pharmacies
Ivan Saltzman founded Dis-Chem Pharmacies in 1978 with his wife and built it into one of South Africa’s most revered healthcare and pharmacy retail groups. Through his Saltzman Family Trust, he controls 35.12-percent of Dis-Chem Pharmacies. The value of his shares currently stands at $384.6 million.
13. Adrian Gore
Net worth on the JSE: $384.5-million
Holdings: Discovery Holdings
Adrian Gore is a co-founder and CEO of South Africa’s leading medical insurer, Discovery Holdings. He owns 7.98 percent of the company.
14. Laurie Dippenaar
Net worth on the JSE: $335.5 million
Holdings: FirstRand
Laurie Dippenaar and his family trust own 1.76 percent of Firstrand.
Laurie Dippenaar owns 1.76-percent of Firstrand. The stake is worth $355.5 million. In 1977, he co-founded Rand Consolidated Investing with partners GT Ferreira and Paul Harris. After a series of mergers and acquisitions, FirstRand was formed in the 1990s.
15. Giovanni Ravazzotti
Net worth on the JSE: $271.6 million
Holdings: Italtile
Giovanni Ravazzotti founded Italtile, South Africa’s biggest leading franchisor, retailer, and manufacturer of tiles, bathroom ware, and related products. He owns 33.88 percent of Italtile through Rallen Proprietary Limited. His stake is worth $271.6 million.
16. Gareth Ackerman and Family
Net worth on the JSE: $259.9 million
Holdings: Pick ‘n Pay
Pick ‘n Pay, founded in 1967 by Raymond Ackerman, is South Africa’s second-largest retailer. With more than 2,000 stores across eight African countries, Pick ‘n Pay has established itself as a leader in the retail industry. Gareth Ackerman, Raymond’s son and the current chairman of the group, holds a significant 25.92-percent stake in the company. The value of the stake currently stands at $ 259.9 million.
17. Barry Swartzberg
Net worth on the JSE: $205.8 million
Holdings: Discovery
Barry Swartzberg cofounded South Africa’s leading medical insurer, Discovery Holdings. He owns 3.92 percent of the company.
18. Michael Attridge
Net worth on the JSE: $189.6 million
Holdings: Aspen Pharmacare
Michael Attridge cofounded Aspen Pharmacare with Stephen Saad in 1997 and currently owns a 4.28-percent stake in the company. He serves as deputy CEO and finance director of the company.
19. Desmond de Beer
Net worth on the JSE: $167.9 million
Holdings: Lighthouse Properties, Resilient REIT
Property tycoon Desmond de Beer founded REIT Limited, a South African Real Estate Investment Trust. He owns a 9.35-percent stake in Resilient REIT worth $75.8 million. He is also the largest individual shareholder of Lighthouse Capital Limited. This company invests globally in direct property in developed and developing markets and listed real estate and infrastructure securities. He owns a 15.95-percent stake in Lighthouse Properties – a stake that is worth $92.1 million.
20. Steven Herring
Net worth on the JSE: $140.8 million
Holdings: Heriot REIT
Steven Herring owns 87.23 percent of Heriot REIT worth $140,828,667.
21. John Copelyn
Net worth on the JSE: $139.8-million
Holdings: 13.36-percent stake in Hosken Consolidated Investments (HCI)
South African tycoon John Copelyn has been the CEO of HCI since 1997 and owns a 13.36-percent stake in the Cape Town-based investment holding company. His stake is now worth $130 million. He also owns 1.36 percent of Tsogo Sun, worth around $9.8 million.
22. J.F Le Roux
Net worth on the JSE: $102.9 million
Holdings: Shoprite
South African investor J.F Le Roux owns 1.56 percent of Shoprite. The shareholding is worth $102.9 million.
23. Kiriakos Anastasiadis
Net worth on the JSE: $97.4 million
Holdings: Action Limited
Kiriakos Anastasiadis is CEO/Founder at Acsion Ltd. Acsion Limited, a specialist property developer and holding company. Anastasiadis owns a 77.48-percent stake worth $97.4 million.
24. Terrence Moolman
Net worth on the JSE: $92.08 million
Holdings: Caxton and CTP Publishers and Printers
The reclusive media mogul and founder of Caxton and CTP Publishers and Printers owns a 47.22-percent stake in the company. His shares are currently valued at over $92.08 million.
25. Gerrie Fourie
Net worth on the JSE: $81.2 million
Holdings: Capitec
Gerrie Fourie, CEO of Capitec, owns 0.89 percent of the bank, a stake worth $81.2 million.
26. Andre du Plessis
Net worth on the JSE: $75.8-million
Holdings: Capitec
Andre du Plessis, one of the co-founders of Capitec, owns 0.78 percent of the bank.
27. Jens Montanana
Net worth on the JSE: $64.9 million
Holdings: Datatec
Jens Montanana is a tech entrepreneur and CEO of Datatec, a South African-based ICT solutions and services firm. He owns 14.49 percent of the company.
28. Christopher Seabrooke
Net worth on the JSE: $64.8 million
Holdings: Sabvest Capital Limited
Christopher Seabrooke is Chief Executive Officer at Sabvest Capital (Sabcap). Sabcap is an investment holding company with interests in various unlisted and listed investments and also holds listed equity, debt, and cash portfolios when it has surplus liquidity. Christopher Seabrooke owns a 40.61-percent stake in Sabvest Capital Limited, worth $ 64.8 million.
29. Paul Neethling
Net worth on the JSE: $59.5 million
Holdings: Remgro
Paul Johannes Neethling sits on the board of Remgro as an alternate to Johann Rupert. He owns a 1.41 stake in Remgro worth $59.5 million.
30. Barry Stuhler
Net worth on the JSE: $59.5 million
Holdings: Lighthouse Properties
Australian real estate entrepreneur Barry Stuhler owns 9.72 percent of Lighthouse Properties.
