South Africa’s Richest Keep Getting Richer, New Report

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Written by Ann Brown

South Africa’s rich just keeps getting richer. In fact, the collective wealth of the 20 richest people in South Africa grew by 8.6 percent compared to last year, the Sunday Times reported according to iOL.

Some sectors suffered, such as mining and manufacturing but retail, health and media sectors gained in value.

Shoprite magnate Christo Wiese bested mining businessman Patrice Motsepe as the most wealthy South African.

The third place holder from last year, Lakshmi Mittal dropped six places and was replaced by Aspen Pharmacare head Stephen Saad.

In fourth place was Assore mining company’s Desmond Sacco and the Rembrandt Trust–connected to the Rupert family–was in fifth place.

ANC deputy president Cyril Ramaphosa ranked number 19 on the list with investments in Bidvest, Mondi, MTN, SABMiller and the Standard Bank Group.

Former national director of public prosecutions Bulelani Ngcuka was listed as No.  137, ex-ANC treasurer-general Mathews Phosa ranked 210 and former environmental and tourism minister Valli Moosa was placed at 236.

Ann Brown
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