South Africa remains the wealthiest nation on the African continent. Despite a challenging economic climate, load shedding, and currency volatility, the country’s billionaires and multi-millionaires have continued to grow their fortunes. Mining, luxury goods, investments, and technology remain the primary drivers of extreme wealth.
This list ranks the top 20 richest South Africans by their estimated net worth. Figures are derived from Forbes, Bloomberg, the Sunday Times Rich List, and publicly available financial disclosures. Currency is expressed in US Dollars and South African Rands.
Top 20 Richest People In South Africa
The Dominance Of Luxury And Mining
For decades, South African wealth was synonymous with mining and natural resources. While that remains true, the top spot is now held by a family whose fortune comes from luxury goods and fashion retail.
The Oppenheimers, once the undisputed kings of South African wealth, have slipped slightly due to the sale of their De Beers stake, while newcomers in technology and investments have entered the ranks.
1. Johann Rupert & Family
Net Worth: $14.5 billion (R270 billion)
Source of Wealth: Luxury goods, investments
Company: Richemont, Remgro
Johann Rupert remains the richest person in South Africa and the richest person on the entire African continent. His company, Richemont, owns some of the world’s most prestigious luxury brands, including Cartier, Montblanc, Van Cleef & Arpels, IWC Schaffhausen, and Piaget.
Rupert does not rely on the South African economy alone. Richemont is listed in Switzerland, and the majority of its revenue comes from Europe, Asia, and the Americas. This diversification has protected his wealth from the weakening Rand.
Richemont reported strong growth in Asia, particularly China, where demand for high-end jewellery and watches rebounded sharply. Rupert also controls Remgro, a massive South African investment holding company with stakes in Mediclinic, Distell, RCL Foods, and Airports Company South Africa.
Residence: Stellenbosch, South Africa, and Switzerland.
2. Nicky Oppenheimer & Family
Net Worth: $9.2 billion (R172 billion)
Source of Wealth: Diamonds, mining, investments
Company: De Beers, Fireblade Aviation
Nicky Oppenheimer inherited one of the most famous fortunes in South African history. The Oppenheimer family controlled De Beers, the diamond giant, for nearly a century. In 2012, Nicky sold the family’s remaining 40 percent stake in De Beers to Anglo American for $5.1 billion.
Since then, he has diversified into private investments and conservation. He owns Fireblade Aviation, a private charter and aircraft management company based at OR Tambo. He also owns extensive tracts of land in Botswana and South Africa for wildlife conservation.
The Oppenheimer family remains deeply involved in philanthropic work through the Brenthurst Foundation and the Tusk Trust.
Residence: Johannesburg, South Africa, and the United Kingdom.
3. Koos Bekker
Net Worth: $3.8 billion (R71 billion)
Source of Wealth: Media, investments, e-commerce
Company: Naspers, Prosus, Takealot
Koos Bekker transformed Naspers from a struggling Afrikaans newspaper publisher into a global e-commerce powerhouse. His single greatest investment was the $32 million purchase of a 46.5 percent stake in Tencent, the Chinese social media and gaming giant, in 2001. That stake is now worth well over $100 billion.
Bekker stepped down as Naspers CEO in 2014 but remains on the board. He also led the spin-off of Prosus, the Amsterdam-listed subsidiary that holds Naspers’s international assets.
In South Africa, Bekker was instrumental in launching Takealot, the country’s largest online retailer. He also owns a wine farm in Stellenbosch and has invested in various hospitality ventures.
Residence: Stellenbosch, South Africa.
4. Michiel Le Roux
Net Worth: $2.4 billion (R45 billion)
Source of Wealth: Banking
Company: Capitec Bank
Michiel Le Roux was a rural banker who co-founded Capitec Bank in 2001 with Rikus Groenewald and Jannie Mouton. At the time, South Africa’s banking sector was dominated by the big four: Standard Bank, FNB, Absa, and Nedbank.
Capitec disrupted the market by offering low-cost, transparent banking to the mass market. Today, Capitec is South Africa’s largest retail bank by customer numbers, with over 22 million clients.
Le Roux retired as chairman in 2016 but remains a significant shareholder. His stake in Capitec continues to generate billions in dividends.
Residence: Stellenbosch, South Africa.
5. Patrice Motsepe
Net Worth: $2.3 billion (R43 billion)
Source of Wealth: Mining
Company: African Rainbow Minerals
Patrice Motsepe was the first Black South African to appear on the Forbes billionaire list. He made his fortune in mining, founding African Rainbow Minerals in 1997. ARM has interests in gold, platinum, coal, copper, and iron ore.
Motsepe is also the president and owner of Mamelodi Sundowns, one of Africa’s most successful football clubs. He is the brother-in-law of Cyril Ramaphosa, South Africa’s president, and a prominent philanthropist through the Motsepe Foundation.
In 2025, ARM reported strong profits due to elevated platinum group metal prices. Motsepe has also diversified into renewable energy investments.
Residence: Johannesburg, South Africa.
6. Allan Gray & Family
Net Worth: $2.1 billion (R39 billion)
Source of Wealth: Investment management
Company: Allan Gray Limited
Allan Gray was born in East London in 1938. He founded Allan Gray Limited in 1973, which grew into one of South Africa’s largest and most respected asset management firms. He passed away in 2019, but his family retains significant wealth through the Allan Gray Orbis Foundation and their shareholding in the business.
The company manages hundreds of billions of Rands in pension funds, retirement annuities, and unit trusts. The Gray family remains intensely private and avoids public attention.
Residence: The family is dispersed between South Africa and Bermuda.
7. Stephen Saad
Net Worth: $1.4 billion (R26 billion)
Source of Wealth: Pharmaceuticals
Company: Aspen Pharmacare
Stephen Saad co-founded Aspen Pharmacare in 1997 and built it into Africa’s largest pharmaceutical manufacturer. Aspen produces generic and branded drugs, as well as anaesthetics and thrombotic treatments.
Aspen played a significant role during the COVID-19 pandemic, securing licensing deals to manufacture Johnson & Johnson vaccines in South Africa. The company has expanded globally, with operations in Europe, Latin America, and Asia.
Saad remains the CEO and drives the company’s aggressive acquisition strategy.
Residence: Durban, South Africa.
8. Jannie Mouton & Family
Net Worth: $1.3 billion (R24 billion)
Source of Wealth: Investments
Company: PSG Group
Jannie Mouton is the founder of PSG Group, a listed investment holding company. He is often described as the Afrikaner Warren Buffett. PSG owns stakes in Capitec Bank, Curro Holdings (private education), Zeder (agriculture), and PSG Konsult (financial services).
Mouton was fired from his previous firm in 1995, a humiliation that drove him to start PSG at the age of 50. The company became one of the great success stories of post-apartheid South Africa.
He has semi-retired but remains involved as chairman emeritus.
Residence: Stellenbosch, South Africa.
9. Douw Steyn
Net Worth: $1.2 billion (R22 billion)
Source of Wealth: Insurance
Company: BGL Group
Douw Steyn is the founder of Auto & General Insurance in South Africa and Comparethemarket.com in the United Kingdom. He started his career as a broker and built a direct insurance empire.
Steyn sold a majority stake in his UK operations for approximately £500 million. He is also known for building Steyn City, a massive residential and lifestyle estate in Johannesburg, widely considered the most luxurious estate in Africa.
Residence: Johannesburg, South Africa, and the United Kingdom.
10. Christo Wiese
Net Worth: $1.1 billion (R20 billion)
Source of Wealth: Retail
Company: Pepkor, Brait, Shoprite
Christo Wiese is a retail legend. He built Pepkor into the largest clothing retailer in South Africa before selling it to Steinhoff in 2014 for R62 billion, largely in Steinhoff shares.
The Steinhoff collapse in 2017 wiped out most of his paper wealth. Wiese fought legal battles for years and has slowly rebuilt his fortune. He remains a significant shareholder in Shoprite and Brait, and he continues to invest in private retail ventures.
Residence: Cape Town, South Africa.
11. Laurie Dippenaar
Net Worth: $950 million (R18 billion)
Source of Wealth: Banking
Company: FirstRand
Laurie Dippenaar is a co-founder of FirstRand, the parent company of FNB, RMB, and WesBank. He served as CEO and later chairman of the group.
FirstRand is consistently rated as one of the best-managed financial services groups in Africa. Dippenaar retired from executive duties but remains a significant shareholder.
Residence: Cape Town, South Africa.
12. GT Ferreira
Net Worth: $920 million (R17 billion)
Source of Wealth: Banking
Company: FirstRand
GT Ferreira was another founding member of FirstRand alongside Laurie Dippenaar and Paul Harris. He served as the first CEO of RMB and played a pivotal role in building the group’s investment banking division.
Ferreira is also a significant shareholder in Renergen, a South African liquefied natural gas and helium producer.
Residence: Stellenbosch, South Africa.
13. Paul Harris
Net Worth: $890 million (R16.5 billion)
Source of Wealth: Banking, investments
Company: FirstRand, Outsurance
Paul Harris completed the FirstRand triumvirate. After his banking career, he co-founded Outsurance, the direct insurance company, and later OUTsurance in Australia.
Harris remains active in business and philanthropy.
Residence: Cape Town, South Africa.
14. Enos Mabuza & Family
Net Worth: $850 million (R16 billion)
Source of Wealth: Mining
Company: Coal of Africa, various
Enos Mabuza is a veteran of the mining industry. He built his fortune through strategic investments in coal and platinum mining. He is also a traditional leader and was the Chancellor of the University of Mpumalanga.
His family continues to expand into agri-processing and property development.
Residence: Mbombela, South Africa.
15. Desmond Sacco
Net Worth: $780 million (R14.5 billion)
Source of Wealth: Mining
Company: Assore
Desmond Sacco is the chairman of Assore, a mining holding company with significant interests in manganese and iron ore. The Sacco family has controlled Assore for generations.
The company has benefited from strong demand for manganese, a key component in steel production and battery technology.
Residence: Johannesburg, South Africa.
16. Iqbal Survé
Net Worth: $750 million (R14 billion)
Source of Wealth: Investments, media
Company: Sekunjalo Investments
Iqbal Survé is the chairman of Sekunjalo Investments, a diversified holding company with interests in healthcare, fishing, technology, and media. Sekunjalo is the majority shareholder of Independent Media, which publishes The Star, Cape Times, and IOL.
Survé remains a controversial figure, frequently involved in legal battles with banks and regulators. Despite this, his business empire continues to operate across multiple sectors.
Residence: Cape Town, South Africa.
17. Robert Gumede
Net Worth: $720 million (R13.4 billion)
Source of Wealth: IT, investments
Company: Guma Group
Robert Gumede founded Guma Group, an IT and industrial holding company. He was an early player in South Africa’s black economic empowerment landscape and has built substantial stakes in technology, mining, and aviation.
Gumede also owns a stake in the Durban Super Giants cricket franchise.
Residence: Mbombela, South Africa.
18. Vivian Imerman
Net Worth: $700 million (R13 billion)
Source of Wealth: Food and beverage
Company: Del Monte, Yupi
Vivian Imerman is a Glaswegian-born South African businessman who made his fortune in the food and beverage industry. He famously turned around Del Monte and sold it for a substantial profit.
He remains active in private equity and property investments.
Residence: Cape Town, South Africa, and Monaco.
19. Whitey Basson
Net Worth: $680 million (R12.7 billion)
Source of Wealth: Retail
Company: Shoprite
Whitey Basson was the CEO of Shoprite for nearly 20 years. Under his leadership, Shoprite became the largest supermarket chain in Africa, with operations in 14 countries.
He retired in 2017 but retains significant shareholding and advisory roles.
Residence: Stellenbosch, South Africa.
20. Adriaan and Willem Ackerman
Net Worth: $650 million (R12 billion)
Source of Wealth: Retail
Company: Woolworths Holdings
The Ackerman family founded Woolworths South Africa in 1931. While the family no longer manages the business day-to-day, they remain substantial shareholders through the Ackerman Investment Holdings.
The family is also known for their philanthropic work through the Ackerman Family Foundation.
Residence: Cape Town, South Africa.
The Decline Of Mining Dominance
Historically, lists of South Africa’s richest people were dominated by mining magnates. While Oppenheimer and Motsepe remain in the top tier, retail, banking, and technology have produced more new billionaires over the past decade.
Notably absent from this list are any representatives from the telecommunications sector. Vodacom and MTN are massive companies, but their largest shareholders are international corporations, not South African individuals.
Who Fell Off The List?
Several prominent South Africans have dropped out of the top 20 in recent years:
Mark Shuttleworth: The first African in space made his fortune selling Thawte to Verisign for $575 million in 1999. His subsequent venture capital investments have underperformed, and his net worth is now estimated at approximately $500 million, placing him outside the top 20.
Tokyo Sexwale: The former politician and mining magnate saw his wealth decline significantly due to legal disputes and the underperformance of his oil investments in South Sudan.
Steinhoff executives: Markus Jooste, Christo Wiese, and others saw their wealth evaporate following the Steinhoff accounting fraud scandal. Jooste died in 2024.
The Rand Billionaire Club
To be ranked in the top 20 richest South Africans, you need a net worth of approximately R12 billion or more. There are an estimated 45 to 50 South Africans with net worths exceeding R1 billion, placing them in the dollar-millionaire or centi-millionaire categories.
However, only five South Africans are dollar-billionaires, meaning their net worth exceeds $1 billion. These are Rupert, Oppenheimer, Bekker, Le Roux, and Motsepe. Stephen Saad and Jannie Mouton fluctuate around the billion-dollar mark depending on exchange rates.
How Accurate Are These Figures?
Net worth estimates for private individuals are inherently imprecise. Unlike public company shareholders, private business owners do not have their wealth calculated in real-time by stock exchanges.
The figures in this list are compiled from:
– Forbes Billionaires List
– Bloomberg Billionaires Index
– Sunday Times Rich List (South Africa)
– Companies and Intellectual Property Commission filings
– Annual reports and Sens announcements
– Interviews with private wealth managers
Currency conversions are calculated at R18.60 to the US Dollar, the average rate for early 2026.
Common Questions, SEO FAQ Section
Who is the richest black South African?
Patrice Motsepe is the richest black South African, with an estimated net worth of $2.3 billion (R43 billion).
How many billionaires are there in South Africa?
South Africa has five confirmed dollar-billionaires: Johann Rupert, Nicky Oppenheimer, Koos Bekker, Michiel Le Roux, and Patrice Motsepe. Several others fluctuate around the billion-dollar mark.
Is Elon Musk still South African?
Elon Musk was born in Pretoria and attended Pretoria Boys High School. He holds South African citizenship by birth, but his wealth is associated with his American companies, Tesla, SpaceX, and X. He is not ranked on South African wealth lists because he has not lived in the country since 1995 and his business operations are entirely based in the United States.
Who is the richest person in Cape Town?
Christo Wiese and the Ackerman family are typically ranked as the wealthiest residents of Cape Town. Johann Rupert spends significant time in Stellenbosch, which is in the Cape Winelands, not Cape Town proper.
Who is the richest person in Johannesburg?
Nicky Oppenheimer and Patrice Motsepe are both based in Johannesburg.
Has any South African made money from cryptocurrency?
Yes, but not at the level of the top 20. South Africa has produced several crypto-millionaires, but their wealth is highly volatile and not publicly verified.
Are the Guptas on this list?
No. The Gupta brothers fled South Africa following state capture allegations. Their assets have been frozen or seized in multiple jurisdictions. They no longer reside in South Africa and their current net worth is unknown but believed to be significantly diminished.
How does Ramaphosa’s wealth compare?
President Cyril Ramaphosa is estimated to be worth approximately $500 million to $600 million, primarily through his investments in Shanduka Group and McDonald’s South Africa. This places him outside the top 20.
Is South Africa losing its wealthy citizens?
Yes. South Africa has experienced significant emigration of high-net-worth individuals over the past decade. The Henley Global Citizens Report consistently ranks South Africa among the top countries for millionaire migration. Many wealthy South Africans now hold second passports and split their time between South Africa and the United Kingdom, Switzerland, or Australia.
Who is the youngest person on the list?
Stephen Saad is 62. Patrice Motsepe is 64. Koos Bekker is 73. There are no self-made billionaires under 50 on the current list.
Summary: The State of South African Wealth
South Africa’s richest people have weathered economic storms through diversification. Those who relied solely on the local economy, mining, or retail have stagnated or declined. Those with global assets, particularly Rupert and Bekker, have continued to grow their wealth.
The next generation of South African wealth is likely to come from technology, renewable energy, and financial services. Whether they will displace the established families remains to be seen.
Disclaimer: Net worth estimates are subject to change based on stock market performance, currency fluctuations, and private transactions. This list is a snapshot of early 2026.