South Africa boasts one of the most robust economies on the African continent and hosts a significant number of affluent individuals worldwide. Remarkably, this nation claims the highest count of multimillionaires across Africa. The wealthiest individuals in South Africa have diversified their investments across various industries and sectors, contributing to their immense wealth. To explore the sources of their prosperity.
The wealthiest individuals in South Africa are known for owning luxurious real estate properties and driving sleek vehicles, showcasing their opulent lifestyles. However, it’s essential to recognize that their wealth is not merely a result of luck or inheritance. Instead, these affluent individuals have achieved their financial success through hard work, dedication to their businesses, and making well-calculated financial decisions. Their prosperity serves as a testament to their entrepreneurial acumen and strategic investment strategies, which have propelled them to the upper echelons of wealth in the country.
Who are the wealthiest people in South Africa in 2024? Check the top 20 richest people in South Africa below. Aside from their net worth,
10. Lauritz (Laurie) Dippenaar – $610 million
Laurie Dippenaar, with a net worth of $610 million (R11.4 billion), is a prominent figure in South Africa’s financial sector. He played a pivotal role in co-founding Rand Consolidated Investing, a renowned banking and insurance company, alongside GT Ferreira and Paul Harris. Currently serving as the non-executive chairman of the company, Dippenaar continues to wield significant influence in the industry. His contributions have been instrumental in shaping the landscape of banking and insurance in South Africa, further solidifying his position among the country’s wealthiest individuals.
9. Jannie Mouton – $1 billion
Jannie Mouton, often referred to as “Buddha Buffett,” boasts an estimated net worth of $1 billion (R18.6 billion). As the founder and chair of PSG Group, Mouton has played a pivotal role in the company’s success. PSG Group is renowned for its investments across various sectors, including banking, financial services, private equity, education, and agriculture industries. Mouton’s strategic vision and leadership have propelled PSG Group to prominence within the South African business landscape, cementing his status as one of the country’s wealthiest and most influential individuals.
8. Ivan and Lynette Saltzman – $1 billion
Ivan and Lynette Saltzman are the founders of Dis-Chem, a rapidly expanding discount pharmacy chain in South Africa. Dis-Chem offers a wide range of products, including beauty items, health foods, sports supplements, and medications.
Starting the business with just $1,000, the Saltzmans achieved remarkable success, with Dis-Chem registering a turnover of $1.46 billion in 2017. This incredible growth propelled them into the billionaire ranks, with a net worth exceeding $1 billion (R18.6 billion). Their entrepreneurial journey underscores the potential for immense success through determination, innovation, and strategic business acumen in the retail sector.
7. Desmond Sacco – $1.1 billion
Desmond Sacco, a mining magnate, boasts a net worth of $1.1 billion (R20.5 billion). He holds the position of chairman at Assore Group, a company engaged in the extraction of iron ore, manganese, and various other ores. Sacco’s association with Assore dates back to 1968 when he joined the firm, which was founded by his father.
Beyond his professional endeavors, Desmond Sacco leads a family-oriented life. He is married to Angela Bland, and together they have two sons named Nicholas and Patrick. Additionally, the Sacco family is blessed with six grandchildren, emphasizing their strong familial bonds amidst Sacco’s notable achievements in the mining industry.
6. Christoffel Wiese – $1.1 billion
Christoffel Wiese holds the sixth position among South Africa’s wealthiest individuals, with a substantial net worth of $1.1 billion (R20.5 billion). His wealth increased significantly due to a lengthy legal dispute that concluded with a $500 million settlement.
Wiese assumes the role of chairman at Pepkor, a prominent company specializing in retailing discounted clothing, textiles, and footwear. Additionally, he has diversified his investments, including ownership of Lanzerac Manor & Winery and Lourensford Estate. Furthermore, Wiese has made substantial investments in various publicly listed companies on the stock exchange, further bolstering his financial portfolio.
5. Michiel le Roux – $1.1 billion
Michiel Le Roux boasts a net worth of $1.1 billion (R20.5 billion), although it experienced a decline of $300 million over the past year, diminishing from $1.4 billion to its current standing.
As a banking magnate, Le Roux is renowned for founding Capitec Bank, catering primarily to South Africa’s emerging middle class. Holding approximately a 9% stake in the institution, he has played a pivotal role in its growth and success.
Formerly serving as CEO until 2004, Le Roux presently holds the positions of chairman and board member at Capitec Bank. While details about his family life are relatively private, it is known that he is married and has children, with his spouse and kids preferring to stay out of the public eye.
4. Patrice Motsepe – $2.3 billion
Patrice Motsepe, with a net worth of $2.3 billion (R43.8 billion), stands among the top five wealthiest individuals in South Africa and holds the title of the wealthiest black person in the country. Despite experiencing a $400 million decrease in net worth over the past year (from $2.7 billion to $2.3 billion), his financial stature remains formidable.
Motsepe’s wealth originates primarily from the mining industry. He is the founder of African Rainbow Minerals, a diversified mining company with operations spanning South Africa and Malaysia. The company’s portfolio encompasses gold, ferrous metals, base metals, and platinum.
In addition to his mining ventures, Motsepe is the owner of African Rainbow Capital, an investment firm with a focus on various sectors across the African continent. Moreover, he assumed the role of president of the Confederation of African Football in March 2021, further solidifying his influence and prominence beyond the business realm.
3. Koos Bekker – $2.4 billion
Koos Bekker, a media magnate with a net worth of $2.4 billion (R45.7 billion), is renowned for his pivotal role in shaping the landscape of media and e-commerce in South Africa and beyond. He is the founder of MultiChoice, a company that revolutionized the cable TV industry, and played a crucial role in the transformation of Naspers from a traditional newspaper publisher to a global e-commerce investor and media powerhouse.
Bekker’s tenure at Naspers saw the company expand its reach to 130 countries, with listings on both the London Stock Exchange and the Johannesburg Stock Exchange. Although he stepped down from the CEO position in March 2014, Bekker returned to Naspers in 2015, assuming the role of chairman and continuing to influence the company’s strategic direction and growth trajectory. His visionary leadership and innovative approach have solidified his status as a titan in the media and technology sectors.
2. Nicky Oppenheimer – $8.3 billion
Nicky Oppenheimer holds the second position among the top 10 wealthiest individuals in South Africa for 2024, boasting a remarkable net worth of $8.3 billion (R158.1 billion). His wealth predominantly stems from his association with DeBeers, a renowned diamond trading firm.
As a scion of the Oppenheimer family, Nicky inherited the reins of DeBeers, marking the third successive generation to steward the company’s legacy. In addition to his leadership role at DeBeers, Oppenheimer oversees Fireblade Aviation, a premier provider of chartered flights based in Johannesburg.
Despite his substantial fortune, Nicky Oppenheimer experienced a slight decline in net worth in 2023, with a reduction of $300 million from the previous year, bringing his total wealth to $8.3 billion. Nonetheless, his enduring influence in the diamond industry and aviation sector continues to underscore his prominence in South Africa’s business landscape.
1. Johann Rupert – $9.8 billion
Johann Rupert claims the title of the wealthiest individual in South Africa, boasting an impressive net worth of $9.8 billion (R186.7 billion). Remarkably, he was the sole South African billionaire noted by Forbes to have accrued financial gains in 2023, marking a substantial increase of $400 million from the previous year (elevating his net worth from $9.4 billion to $9.8 billion).
Rupert assumes the role of chairman at Richemont, a distinguished Swiss luxury goods conglomerate renowned for its creation of esteemed brands such as Montblanc and Cartier. Additionally, he holds the chairmanship at Remgro, a prominent South African-based company.
With his astute leadership and entrepreneurial prowess, Johann Rupert continues to solidify his position as a titan in both the global luxury goods industry and the South African business landscape.
