Top 20 Richest People In South Africa (2024)

The richest people in South Africa have been able to accumulate their wealth via different methods and strategies, and we will explore these high-worth individuals here.

A list of the wealthiest people in South Africa includes Johann Rupert, Nicky Oppenheimer, Patrice Motsepe, Koos Bekker, Stephen Saad, Allan Gray, Michiel Le Roux, Desmond Sacco, Ivan & Lynette Saltzman, Jannie Mouton, Laurie Dippenaar, and Raymond Ackerman amongst others.

Top 20 Richest People In South Africa

1. Johann Rupert ($10.7 billion)

Johann Rupert is the richest person in South Africa with a net worth of $10.7 billion. He is a successful billionaire businessman and the chairman of Richemont, a luxury goods holding company. Born on June 1, 1950, in Stellenbosch, he inherited the reins of the family’s business empire, which included Cartier and Montblanc, and transformed it into a global luxury conglomerate.

2. Nicky Oppenheimer ($8.3 billion)

Nicky Oppenheimer is worth around $8.3 billion and is another rich person in South Africa. Born in 1945, he inherited the reins of the De Beers diamond mining company, a cornerstone of his family’s wealth and influence. Under his leadership, De Beers saw a transformative shift in its diamond mining practices. He played a pivotal role in negotiating with the South African government to establish the Diamond Trading Company, promoting ethical sourcing and pricing transparency in the diamond industry. His commitment to sustainable practices set a global standard.

3. Patrice Motsepe ($2.6 billion)

Patrice Motsepe, born on January 28, 1962, in Soweto, can boast of a net worth of $2.6 billion. He is best known as the founder and executive chairman of African Rainbow Minerals (ARM), a mining company with significant interests in various resources. His rise in the business world is remarkable. He began his career as a lawyer and later ventured into mining, founding ARM in 2004.

4. Koos Bekker ($2.5 billion)

Koos Bekker, worth $2.5 billion, is one of the wealthiest people in South Africa. He is one of the most influential figures in the country’s media and technology industries, best known for his pivotal role as the CEO and later the Chairman of Naspers, a multinational media conglomerate. Under his leadership, Naspers underwent a remarkable transformation from a traditional newspaper publisher into a global e-commerce and media giant. He recognized the potential of the internet early on and made strategic investments in companies like Tencent, which yielded substantial returns for Naspers.

5. Allan Gray ($1.5 billion)

Allan Gray had a net worth of $1.5 billion at his death. He was reputable as a prominent South African businessman who founded his investment management company renowned for its expertise in asset management and its commitment to providing long-term value to investors.
Allan Gray’s investment philosophy revolves around a value-oriented approach, emphasizing a focus on undervalued assets with the potential for significant growth over time. This approach has earned his company a strong reputation in the financial industry.

6. Michiel Le Roux ( $1.7 billion)

Michiel Le Roux is one of the richest people in South Africa. He is a notable banker and entrepreneur recognized for his significant contributions to the country’s financial sector. Le Roux is best known as the co-founder and former chairman of Capitec Bank, one of South Africa’s leading retail banks.

7. Stephen Saad ($1.2 billion)

With a net worth of $1.2 billion, here is another wealthy man in the country. Stephen Saad is a businessman and the co-founder of Aspen Pharmacare Holdings Limited, one of the largest pharmaceutical companies in Africa. Born in Durban, his visionary leadership and strategic acumen have been instrumental in Aspen’s remarkable growth. The company has expanded its reach into more than 150 countries, producing a wide range of pharmaceutical products, including generic and branded medicines.

8. Christoffel Wiese ($1.1 billion)

One of the richest people in South Africa is Christoffel Wiese. This businessman and billionaire is best known for his significant contributions to the retail industry. Wiese’s journey to wealth began with the acquisition of a stake in Pep Stores, a clothing retailer, in the 1980s. He played a pivotal role in expanding the company into a retail giant, now known as Steinhoff International. He serves as the chair of Pepkor and has also invested in various industries, including mining and agriculture.

9. Desmond Sacco ($1.1 billion)

Desmond Sacco is known for his significant contributions to the mining and industrial sectors in the country. Hails from the renowned Sacco family, which has a long history of involvement in the mining industry. Desmond Sacco’s leadership and entrepreneurial prowess have made him a respected figure in South Africa’s corporate landscape.

10. Ivan and Lynette Saltzman ($1 billion)

Ivan and Lynette Saltzman are prominent figures in the South African business community. Their dedication to their successful business ventures has made them highly regarded figures in the country, famous for what they do with Dis-Chem, dealing with beauty products, health foods, sports supplements, etc

11. Jannie Mouton ($1 billion)

Jannie Mouton, with an estimated net worth of $1 billion, is another rich man in South Africa. He is the founder of the PSG Group, a diversified investment holding company. Born in 1946, in Beaufort West, South Africa, his journey to success began when he co-founded PSG in 1995. Under him, the company grew into a significant player in the South African financial services industry. PSG’s diverse portfolio includes investments in fields such as banking, insurance, agriculture, and education.

12. Laurie Dippenaar ($610 million)

Laurie Dippenaar is one of the wealthiest people in South Africa who has a net worth of $610 million. Laurie Dippenaar is a prominent businessman, a co-founder of Rand Consolidated Investments and a key figure in the success of FirstRand Limited, one of South Africa’s leading banking institutions. He has played a pivotal role in shaping the direction of South Africa’s banking and financial services industry, contributing to innovation and inclusive growth.

13. Raymond Ackerman ($500 million)

Raymond Ackerman has left an indelible mark on the country’s retail industry and is the founder of the Pick n Pay supermarket chain, one of the largest and most recognizable retail brands in the country, with at least 870 stores in South Africa, Zimbabwe and Australia. The company revolutionized the South African retail landscape by introducing customer-focused concepts such as self-service, lower prices, and a commitment to quality and customer service.

14. Cyril Ramaphosa ($450 million)

South Africa’s President Cyril Ramaphosa has accumulated a lot of wealth even before getting into the position. He has played a pivotal role in the country’s political and economic landscape. Also, he has played a crucial role on the international stage, advocating for African development and South Africa’s interests. Indeed, Ramaphosa is widely regarded as a unifying figure in South African politics, working to rebuild the country and restore its reputation on the global stage.

15. Gerrit Thomas Ferreira ($420 million)

Gerrit Thomas Ferreira, commonly known as GT Ferreira, is another well-known businessman and entrepreneur in the country who has played a pivotal role in the financial sector and is one of the richest too. He is renowned for his co-founding of Rand Consolidated Investments (RMB Holdings) and FirstRand Limited, two major financial institutions in South Africa.

16. Michael Guy Attridge ($410 million)

Commonly known as Gus Attridge, he is worth $410 million and is one of the affluent people in South Africa. He was a co-founder of Aspen Pharmacare some years ago and is serving as the deputy CEO of the company.

17. Markus Jooste ($400 million)

Markus Jooste is a former business executive who, until 2017, was widely recognized for his role as the CEO of Steinhoff International Holdings, a multinational retail company. He played a significant part in the rapid expansion of Steinhoff into a global retail giant. During his tenure, the organisation acquired numerous brands and companies across the world, including popular household names like Conforama and Poundland.

18. Giovanni Ravazzotti ($330 million)

Giovanni Ravazzotti is one of the affluent people in South Africa, famous as the chairman of Italtile of South Africa. Giovanni was the founder of the company some years ago, and it has been a productive one too. He found success here after moving in from Italy and becoming a citizen too.

19. Wendy Appelbaum ($170 million)

The only woman on the list, Wendy Appelbaum is a prominent businesswoman who was born on August 10, 1962, in South Africa. She is known for her successful career in the business arena, particularly in the wine industry. She is the owner of De Morgenzon Wine Estate, which has gained acclaim for producing high-quality wines.

20. Adrian Gore ($34.9 million)

Adrian Gore used to be worth around $480 million, but his wealth dipped in recent times. Born in Johannesburg, he is the founder and CEO of Discovery Holdings, a renowned financial services group. Indeed, his visionary leadership has been pivotal in reshaping the insurance industry. He introduced groundbreaking concepts like the Vitality program, which incentivizes policyholders to adopt healthier lifestyles through rewards and discounts, revolutionizing the way insurance is perceived and utilized.

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Closing

We have given an overview of the richest people in South Africa who have been able to build their wealth utilizing different means in the piece above. It should be noted that for some of them, beyond their business ventures, they are also committed philanthropists. They have channeled their wealth and influence into various charitable initiatives, such as social justice, women’s rights, healthcare, etc.