Money makes the world go round. Especially in South Africa’s political landscape. Money shapes the ideology and governance and also the possibility of success of political aspirants.
Over the years, several politicians have amassed significant wealth through a combination of public service, business ventures, and strategic investments. This article delves into the lives of the richest politicians in South Africa, examining how they built their fortunes and the impact of their wealth on the country’s socio-political fabric.
Richest Politicians in South Africa
1. Cyril Ramaphosa – Estimated Net Worth: $450–700 Million
Cyril Ramaphosa, South Africa’s current president, tops the list with a staggering net worth estimated between $450 million and $700 million. Before ascending to the presidency, Ramaphosa was already a successful businessman.
Sources of Wealth:
Founder of Shanduka Group, a black-owned investment company with stakes in MTN, Coca-Cola, Standard Bank, and more.
Former Chairman of Bidvest and MTN.
Ownership of McDonald’s South Africa franchise (previously).
Extensive real estate holdings, including over 30 properties.
Ramaphosa’s transition from trade unionist to billionaire businessman and then to head of state is a testament to his strategic acumen and adaptability.
2. Tokyo Sexwale – Estimated Net Worth: $200 Million
Mosima Gabriel “Tokyo” Sexwale is a former anti-apartheid activist, political prisoner, and businessman. His wealth stems largely from his ventures in the mining and energy sectors.
Key Highlights:
Founder of Mvelaphanda Holdings, with interests in mining, energy, and real estate.
Former Premier of Gauteng and Minister of Human Settlements.
Holds stakes in diamond mining companies, including De Beers.
Sexwale’s journey from Robben Island to boardrooms across South Africa is both inspiring and controversial.
3. Herman Mashaba – Estimated Net Worth: $100 Million
Herman Mashaba is a self-made entrepreneur and politician, best known for founding the haircare brand Black Like Me.
Career Milestones:
Built his business empire during apartheid, defying racial and economic barriers.
Served as Mayor of Johannesburg from 2016 to 2019.
Founded ActionSA, a political party focused on anti-corruption and governance reform.
Mashaba’s story is one of grit, innovation, and a relentless pursuit of success.
4. F.W. de Klerk – Estimated Net Worth: $46 Million (at time of death)
Frederik Willem de Klerk, South Africa’s last apartheid-era president, played a pivotal role in the country’s transition to democracy.
Legacy and Wealth:
Came from a wealthy Afrikaner family.
Earned income through farming and business ventures.
Co-recipient of the Nobel Peace Prize with Nelson Mandela.
Though controversial, de Klerk’s influence on South African history and his financial success are undeniable.
5. Saki Macozoma – Estimated Net Worth: $53–150 Million
Saki Macozoma is a former ANC Member of Parliament turned business mogul.
Business Ventures:
Former Managing Director of Transnet.
Chairman of Liberty Holdings and Safika Holdings.
Investments in mining, telecommunications, and financial services.
Macozoma’s shift from politics to business has made him one of the most influential corporate figures in South Africa.
6. Jacob Zuma – Estimated Net Worth: $20 Million
Jacob Zuma, South Africa’s former president, has had a tumultuous political career marked by both achievements and scandals.
Financial Profile:
Long-standing member of the ANC, with decades of political involvement.
Accused of benefiting from state capture and corruption.
Owns multiple properties, including the controversial Nkandla homestead.
Despite legal battles and public scrutiny, Zuma remains one of the wealthiest and most polarizing figures in South African politics.
7. Thabo Mbeki – Estimated Net Worth: $10–11 Million
Thabo Mbeki served as South Africa’s president from 1999 to 2008 and played a key role in shaping the country’s post-apartheid economy.
Sources of Wealth:
Earned substantial salaries as Deputy President and President.
Involved in international diplomacy and advisory roles.
Known for his intellectual approach to governance and economics.
Mbeki’s wealth is modest compared to others on this list, but his influence remains significant.
8. Bulelani Ngcuka – Estimated Net Worth: R160–203 Million
Bulelani Ngcuka is a former National Director of Public Prosecutions and a respected legal figure.
Career Highlights:
Served as a Senator and later as NDPP.
Married to Phumzile Mlambo-Ngcuka, former Deputy President of South Africa.
Investments in real estate and legal consulting.
Ngcuka’s wealth is rooted in his legal career and strategic investments.
9. Mamphela Ramphele – Estimated Net Worth: R87 Million
Mamphela Ramphele is a medical doctor, academic, and former anti-apartheid activist.
Notable Achievements:
Co-founder of the Black Consciousness Movement with Steve Biko.
Former Vice-Chancellor of UCT and Managing Director at the World Bank.
Founded the political party Agang South Africa.
Ramphele’s wealth is a reflection of her global influence and commitment to social justice.
10. Pravin Gordhan – Estimated Net Worth: R79.9 Million
Pravin Gordhan is South Africa’s Minister of Public Enterprises and a long-serving member of the ANC.
Financial Details:
Holds over 46,000 shares in more than 40 companies.
Investments in real estate, banking, and tobacco.
Known for his role in fiscal policy and anti-corruption efforts.
Gordhan’s financial portfolio is diverse, though his exact net worth remains unverified.
Analysis: Politics and Wealth in South Africa
The intersection of politics and wealth in South Africa is complex. While some politicians have built their fortunes through legitimate business ventures, others face allegations of corruption and misuse of public funds. The country’s economic disparities make the wealth of these individuals particularly striking.
Common Themes:
Business Acumen: Many politicians transitioned into business or maintained parallel careers.
Political Influence: Holding high office often correlates with increased wealth.
Controversy: Allegations of corruption and state capture are common among the wealthiest figures.
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Conclusion
South Africa’s richest politicians are a diverse group, ranging from anti-apartheid activists to modern-day entrepreneurs. Their wealth reflects not only personal ambition but also the evolving nature of power and influence in the country. As South Africa continues to grapple with inequality and governance challenges, the financial success of its political elite remains a topic of public interest and debate.