Top 20 richest people in South Africa and their net worth in 2024

Top 20 richest people in South Africa and their net worth in 2024

South Africa has one of the strongest economies in Africa and is home to some of the most affluent people globally. In fact, this country has the highest number of multimillionaires on the continent. The richest people in South Africa have invested in multiple industries and sectors. Find out their sources of wealth below.

Richest people in South Africa
Richest people in South Africa. Photo: @Business Day/Gallo Images, @IWFSA1, @Patrick T. Fallon/Bloomberg, @Jeremy Glyn/Gallo Images, @Filip Singer, @Waldo Swiegers (modified by author)
Source: UGC

The richest people in South Africa own luxurious real estate properties and ride sleek vehicles. Many ordinary people fail to realize that affluent people work extremely hard in their businesses and make well-calculated financial decisions.

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, you will learn about their age, where they got their money, and other details about their lives.

20. Irene Charnley - $150 million

richest people in South Africa
Irene Charnley in a white necklace and black attire with white polka dots. Photo: @IWFSA1
Source: Twitter
  • Full name: Irene Charnley
  • Date of birth: 6th May 1960
  • Age: 64 years (in 2024)
  • Origin of wealth/ Industry: Telecoms
  • Spouse: Clement Charnley

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Irene Charnley is one of the wealthiest women in SA, with a net worth of $150 million (R2.8 billion). She came into the limelight as a trade unionist and negotiator for the National Union of Mineworkers in South Africa.

Charnley subsequently left union politics and became MTN's Executive Director. She was instrumental in negotiating a GSM license in Nigeria, MTN's most profitable market.

Irene was worth $150 million when she left MTN and founded Smile Telecoms, an internet services provider in West and East Africa.

19. Wendy Appelbaum - $200 million

top 20 richest people in south africa
Successful businesswoman Wendy Appelbaum. Photo: Jeremy Glyn/Gallo Images
Source: Getty Images
  • Full name: Wendy Donna Appelbaum
  • Year of birth: 1961
  • Age: 62 years (as of 2024)
  • Origin of wealth/ Industry: Winery and farming

Wendy Appelbaum's net worth is $200 million (over R3.7 billion). She founded De Morgenzon Wine Estate, a wine farm and agricultural business in Stellenbosch.

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Appelbaum is the daughter of Liberty Group founder Donald Gordon. In 2015, she was awarded Forbes Woman Businesswoman of the Year and Forbes Africa Woman of the Year.

18. Wendy Ackerman - $300 million

richest people in South Africa
Wendy Ackerman wearing a white necklace. Photo: @Picknpay
Source: Facebook
  • Full name: Wendy Ackerman
  • Residence: Cape Town
  • Origin of wealth/ Industry: Retailing
  • Children: Gareth Ackerman, Suzanne Ackerman-Berman, Kathryn Ackerman
  • Spouse: Raymond Ackerman (died in 2023)

Wendy Ackerman is the widow of the late SA tycoon Raymond Ackerman, who died on 6th September 2023, aged 92. The couple co-founded Pick N Pay Group, a supermarket chain with at least 870 stores in South Africa, Zimbabwe, and Australia.

The lady has served as a non-executive Director of the company since 2010. Meanwhile, her family owns a 48% stake in Pick N Pay Group. While Wendy Ackerman is worth about $300 million (R5.6 billion), her late spouse's net worth was around $500 million (R9.3 billion).

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17. Giovanni Ravazzotti - $330 million

  • Full name: Giovanni Alberto Mario Ravazzotti
  • Year of birth: 1934
  • Age: 90 years (in 2024)
  • Origin of wealth/ Industry: Ceramics and tiles business

Giovanni Ravazzotti is chairman of Italtile of South Africa, a ceramics company he founded after moving from Italy to Johannesburg in 1969. He is also the chairman of Ceramic Industries Ltd.

In the past, the entrepreneur was the chairman of the Italian-South African Chamber of Trade & Industries. Giovanni Ravazzotti's net worth is $330 million (R6.2 billion). He has South African citizenship and resides in the country.

16. Markus Jooste - $400 million

Top 20 richest people in South Africa
Markus Jooste wearing a suit. Photo: @AlmariWessels
Source: Twitter
  • Full name: Markus Johannes Jooste
  • Date of birth: 22nd January 1961
  • Age: 63 years (as of 2024)
  • Place of birth: Pretoria
  • Origin of wealth/ Industry: Goods retailing
  • Children: a son and two daughters
  • Spouse: Ingrid Jooste

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Markus Jooste's net worth is over $400 million (R7.5 billion). He is the former CEO of Steinhoff International, a retail company selling furniture and household goods. Besides business, Markus is an avid horse breeder.

The former CEO of Steinhoff International stepped down from the firm in December 2017 after a massive accounting fraud came to light. Consequently, the JSE fined him about R15 million for violations against its listing rules and for falsifying financial statements for Steinhoff.

15. Gus Attridge - $410 million

  • Full name: Michael Guy Attridge
  • Year of birth: 1961
  • Age: 63 years (in 2024)
  • Origin of wealth/ Industry: Pharmaceuticals

Michael Guy Attridge, commonly known as Gus Attridge, is a South African businessman. He is the deputy CEO of Aspen Pharmacare, which he co-founded with Stephen Saad. Gus Attridge's net worth is $410 million (R7.6 billion).

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14. Gerrit Thomas (GT) Ferreira - $420 million

richest people in South Africa
GT Ferreira sitting in his office. Photo: Business Day/Gallo Images
Source: Getty Images
  • Full name: Gerrit Thomas Ferreira
  • Date of birth: 6th April 1948
  • Age: 76 years (in 2024)
  • Residence: Stellenbosch
  • Origin of wealth/ Industry: Banking and insurance
  • Children: 2
  • Spouse: Tshepo (South African tycoon Patrice Motsepe's sister)

Gerrit Thomas (GT) Ferreira co-founded one of the largest financial services groups in South Africa, and his net worth is $420 million (R7.8 billion). Most of his riches come from his shares in RMI Holdings for insurance and RMB Holdings, which deals with banking. The two firms are subsidiaries of FirstRand Group, which Gerrit Thomas co-founded with his brothers.

13. Cyril Ramaphosa - $450 million

richest people in South Africa
President Cyril Ramaphosa attends a press conference after the G20 Compact with Africa conference at the Chancellery in Berlin. Photo: Filip Singer
Source: Getty Images
  • Full name: Matamela Cyril Ramaphosa
  • Date of birth: 17th November 1952
  • Age: 71 years (as of 2024)
  • Place of birth: Soweto
  • Residence: South Africa
  • Origin of wealth/ Industry: Mining, financial services, and food industry
  • Children: 5
  • Spouses: Nomazizi Mtshotshisa (1991–1993), Tshepo Motsepe (1996 - present)

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Cyril Ramaphosa has been serving as the fifth and current president of South Africa since 2018. He has stakes in Coca-Cola and McDonald's South African subsidiaries.

Ramaphosa stepped down from being the chairman of Shanduka Group when he was appointed South Africa's vice president in 2014.

In May 2015, Cyril sold his 30% stake in Shanduka Group to focus on politics. His net worth is around $450 million (R8.4 billion).

12. Adrian Gore - $480 million

top 20 richest people in south africa
Adrian Gore, chief executive officer of Discovery Ltd., following an interview at the company's headquarters in the Sandton district of Johannesburg. Photo: Waldo Swiegers
Source: Getty Images
  • Full name: Adrian Gore
  • Date of birth: 16th May 1964
  • Age: 59 years (as of 2024)
  • Residence: Johannesburg
  • Origin of riches/ Industry: Financial services
  • Children: two daughters and a son
  • Spouse: Lauren Gore (1987 - present)

Adrian Gore is the founder and group chief executive of Discovery Holdings, one of South Africa's leading medical insurance companies.

The man established the company at age 27 in the early 1990s amid economic uncertainty caused by the process of ending apartheid in SA. Discovery Holdings is listed on the Johannesburg Stock Exchange (JSE), and its owner is worth about $480 million (R9 billion).

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11. Stephen Saad - $570 million

who are the top 10 richest people in south africa
Stephen Saad, chief executive officer of Aspen Pharmacare Holdings Ltd, gestures as he speaks during an interview at the company offices in Durban. Photo: Waldo Swiegers/Bloomberg
Source: Getty Images
  • Full name: Stephen Bradley Saad
  • Date of birth: 23rd June 1964
  • Age: 60 years (in 2024)
  • Place of birth: Durban
  • Residence: Durban
  • Origin of riches/ Industry: Pharmaceuticals
  • Children: 4 daughters
  • Spouse: Lynda Saad

Stephen Saad's net worth is roughly $570 million (R10.6 billion). He is the primary co-founder, CEO, and head of Aspen Pharmacare's board of directors.

Saad was the first African pharma entrepreneur to claim a billion-dollar fortune. In 2013, Forbes listed his net worth as $1 billion. The fortune peaked at $2.1 billion in 2015, but anti-competitive misconduct allegations swayed his company's stock price over the years.

Stephen’s 12.8% stake in Aspen Pharmacare is now worth around $570 million (R10.6 billion). He is still among the wealthiest Africans to have built a fortune in the pharma sector.

Aspen is South Africa’s largest pharmaceutical manufacturer. The company markets generic medicines in 150 countries.

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10. Lauritz (Laurie) Dippenaar - $610 million

richest people in South Africa
Laurie Dippenaar, the former CEO of FirstRand, stands in the garden outside his house in Bryanstown outside Johannesburg. Photo: Per-Anders Pettersson
Source: Getty Images
  • Full name: Lauritz Dippenaar
  • Date of birth: 25th October 1948
  • Age: 76 years (in 2024)
  • Residence: Johannesburg
  • Origin of riches/ Industry: Baking and insurance
  • Children: 3
  • Spouse: Estelle Dippenaar

Laurie Dippenaar's net worth is $610 million (R11.4 billion). He co-founded Rand Consolidated Investing, a banking and insurance company, with GT Ferreira and Paul Harris. He works as a non-executive chairman at the company.

9. Jannie Mouton - $1 billion

richest people in South Africa
Chairman of the PSG Group Jannie Mouton in Cape Town. Photo: Michael Hammond/Foto24/Gallo Images
Source: Getty Images
  • Full name: Johannes Mouton
  • Year of birth: 1946
  • Age: 78 years (in 2024)
  • Place of birth: Carnarvon
  • Residence: Stellenbosch
  • Origin of wealth/ Industry: Finance
  • Children: Piet Mouton, Charité Volkwyn, Jan Mouton
  • Spouses: Dana Mouton (divorced in 2004), Deidré Mouton

Jannie Mouton, commonly known as Buddha Buffett, has an estimated net worth of $1 billion (R18.6 billion). He is the founder and chair of PSG Group. The firm invests in banking, financial services, private equity, and education agriculture industries.

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8. Ivan and Lynette Saltzman - $1 billion

Top 20 richest people in South Africa
Ivan and Lynette Saltzman take a picture togehter. Photo: @MobileMagzter
Source: Twitter
  • Couple's names: Ivan Saltzman and Lynette Saltzman
  • Year of birth: 1950 (Ivan)
  • Place of birth: Port Elizabeth, Eastern Cape (Ivan)
  • Age: 74 years (Ivan, in 2024)
  • Residence: Johannesburg
  • Origin of riches/ Industry: Pharmaceuticals
  • Children: Saul Saltzman, Dan Saltzman, and Mark Saltzman

Ivan and Lynette Saltzman founded Dis-Chem, one of the fastest-growing discount pharmacies in SA. Dis-Chem sells beauty products, health foods, sports supplements, and medications.

The couple started the business with $1,000 and registered a $1.46 billion turnover in 2017, making themselves billionaires. The Saltzmans are worth over $1 billion (R18.6 billion).

7. Desmond Sacco - $1.1 billion

Top 20 richest people in South Africa
Desmond Sacco smiling in a black suit and a white shirt. Photo: @BlueBizAfrica
Source: Twitter
  • Full name: Desmond Sacco
  • Year of birth: 1940
  • Age: 84 years (in 2024)
  • Place of birth: Johannesburg
  • Origin of riches/ Industry: Mining
  • Children: Nicholas Sacco and Patrick Sacco
  • Spouse: Angela Bland

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Desmond Sacco's net worth is $1.1 billion (R20.5 billion). He chairs Assore Group, which mines for iron ore, manganese, and other ores. His father founded the company, and he joined the firm in 1968.

Mining billionaire Desmond Sacco is married to Angela Bland. The couple has two sons, Nicholas and Patrick, and six grandchildren.

6. Christoffel Wiese - $1.1 billion

top 20 richest people in south africa
Christoffel Wiese poses for a photograph following a Bloomberg Television interview at the Pepkor Holdings Pty Ltd. offices in Cape Town. Photo: Waldo Swiegers
Source: Getty Images
  • Full name: Christoffel F. Hendrik Wiese
  • Date of birth: 10th September 1941
  • Age: 83 years (in 2024)
  • Place of birth: Upington
  • Residence: Cape Town
  • Origin of riches/ Industry: Fashion and clothing, winery, and stock trading
  • Children: Clare Wiese, Jacob Daniel Wiese, Christina Wiese
  • Spouse: Caro Wiese

Christoffel Wiese ranks sixth on the list of the wealthiest people in the country, with a net worth of $1.1 billion (R20.5 billion). His multi-year legal battle, which ended in a $500 million settlement, made him richer.

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Wiese serves as the chair of Pepkor, a company that retails discount clothes, textiles, and shoes. He also owns Lanzerac Manor & Winery and Lourensford Estate and has invested heavily in numerous companies listed on the stock exchange.

5. Michiel le Roux - $1.1 billion

Top 20 richest people in South Africa
Michiel Be Roux smiles at the camera. Photo: @yonela_diko
Source: Twitter
  • Full name: Michiel Le Roux
  • Date of birth: 20th May 1949
  • Age: 75 years (in 2024)
  • Residence: Stellenbosch
  • Origin of wealth/Industry: Banking

Michiel Le Roux's net worth is $1.1 billion (R20.5 billion). It dropped by $300 million last year, decreasing his net worth from $1.4 billion to $1.1 billion.

The banking mogul founded Capitec Bank, which serves the emerging middle class in SA. He owns around 9% stake in the firm.

Michiel Le Roux was CEO of Capitec Bank until 2004. He is now its chair and board member. The banker is married and has children, but his spouse and kids avoid the limelight.

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4. Patrice Motsepe - $2.3 billion

Patrice Motsepe's net worth
Patrice Motsepe, founder and chairman of African Rainbow Minerals Ltd., listens during the Milken Institute Global Conference in Beverly Hills, California, U.S. Photo: Patrick T. Fallon/Bloomberg
Source: Getty Images
  • Full name: Patrice Tlhopane Motsepe
  • Date of birth: 28th January 1962
  • Age: 62 years (in 2024)
  • Place of birth: Ga-Rankuwa
  • Residence: Johannesburg
  • Origin of wealth/ Industry: Mining
  • Children: Kgosi Motsepe, Thlopie Motsepe, Kabelo Motsepe
  • Spouse: Precious Moloi-Motsepe (m. 1989)

Patrice Motsepe's net worth of $2.3 billion (R43.8 billion) makes him one of the top 5 richest people in South Africa and the wealthiest black person in the country. Patrice Motsepe's net worth dropped by $400 million last year (from $2.7 billion to $2.3 billion).

The businessman and football administrator has derived his wealth from the mining industry. He founded the African Rainbow Minerals, a diversified mining company operating in South Africa and Malaysia. It deals in gold, ferrous metals, base metals, and platinum.

Additionally, Motsepe owns the African Rainbow Capital. The company invests in different parts of the continent and has been the Confederation of African Football president since March 2021.

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3. Koos Bekker - $2.4 billion

richest people in South Africa
Koos Bekker, billionaire and chairman of Naspers Ltd., speaks during an interview at his office in Cape Town. Photo: Halden Krog/Bloomberg
Source: Getty Images
  • Full name: Jacobus Petrus "Koos" Bekker
  • Date of birth: 14th December 1952
  • Age: 72 years (in 2024)
  • Place of birth: Potchefstroom
  • Residence: Cape Town
  • Origin of riches/ Industry: Media and investments
  • Children: 4
  • Spouse: Karen Roos

Koos Bekker is a media expert with a net worth of $2.4 billion (R45.7 billion). He founded MultiChoice and transformed Naspers, a South African newspaper publisher, into an e-commerce investor and cable TV powerhouse.

The mogul left the position of the CEO of Naspers in March 2014 and returned to the company in 2015 as the chairman. The company operates in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange.

2. Nicky Oppenheimer - $8.3 billion

top 10 richest people in south africa
Nicky Oppenheimer, chairman of De Beers, in his office at the headquarters. Photo: Louise Gubb/Corbis
Source: Getty Images
  • Full name: Nicholas F. Oppenheimer
  • Date of birth: 8th June 1945
  • Age: 79 years (in 2024)
  • Residence: Johannesburg
  • Origin of wealth/ Industry: Diamond trade
  • Children: Jonathan Oppenheimer
  • Spouse: Orcillia Lasch (1968 - present)

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Nicky Oppenheimer is second among the top 10 wealthiest people in South Africa in 2024. He has amassed a net worth of $8.3 billion (R158.1 billion) from DeBeers, a diamond trading firm.

Oppenheimer inherited DeBeers from his parents and is the third generation family member to run the company. Besides this, he runs Fireblade Aviation in Johannesburg, which offers chartered flights. Nicky Oppenheimer's net worth decreased by $300 million in 2023 (from $8.6 billion to $8.3 billion).

1. Johann Rupert - $9.8 billion

richest people in South Africa
Johann Rupert at his main office, Groot Paardevlei, in Somerset West. Photo: Louise Gubb/Corbis
Source: Getty Images
  • Full name: Johann Peter Rupert
  • Date of birth: 1st June 1950
  • Age: 74 years (in 2024)
  • Place of birth: Stellenbosch
  • Residence: Cape Town
  • Origin of wealth/ Industry: Trading luxury products
  • Children: Anton Rupert Jr., Caroline Rupert, Hanneli Rupert
  • Spouse: Gaynor Rupert

Johann Rupert is the richest man in South Africa, with a net worth of $9.8 billion (R186.7 billion). He was the only South African billionaire reported by Forbes to have made financial gains in 2023 – recording a $400 million net worth increase (from $9.4 billion to $9.8 billion).

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Rupert is the chairman of Richemont, a Swiss luxury goods company, and Remgro, a South Africa-based company. Richemont is known for creating luxury brands Montblanc and Cartier.

Who are the richest people in South Africa?

Here is a recap of the richest people in South Africa in 2024 and their net worth:

RankNameNet worth
1Johann Rupert$9.8 billion
2Nicky Oppenheimer $8.3 billion
3Koos Bekker$2.4 billion
4Patrice Motsepe $2.3 billion
5Michiel Le Roux$1.1 billion
6Christoffel Wiese$1.1 billion
7Desmond Sacco$1.1 billion
8 Ivan and Lynette Saltzman$1 billion
9Jannie Mouton$1 billion
10Lauritz (Laurie) Dippenaar$610 million
11Stephen Saad$570 million
12Adrian Gore$480 million
13Cyril Ramaphosa$450 million
14Gerrit Thomas (GT) Ferreira$420 million
15Gus Attridge$410 million
16Markus Jooste $400 million
17Giovanni Ravazzotti $330 million
18Wendy Ackerman $300 million
19Wendy Appelbaum $200 million
20Irene Charnley$150 million

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Who are the top 10 richest people in South Africa?

The top ten wealthiest people in South Africa in 2024 are:

  • Johann Rupert ($9.8 billion)
  • Nicky Oppenheimer ($8.3 billion)
  • Koos Bekker ($2.4 billion)
  • Patrice Motsepe ($2.3 billion)
  • Michiel Le Roux ($1.1 billion)
  • Christoffel Wiese ($1.1 billion)
  • Desmond Sacco ($1.1 billion)
  • Ivan & Lynette Saltzman ($1 billion)
  • Jannie Mouton ($1 billion)
  • Lauritz Dippenaar ($610 million)

Who are the top 5 richest people in South Africa?

Here are the top 5 South African billionaires and the difference in their net worth and world ranking positions between 2022 and 2023:

SA Billionaires2022 rank2023 rank2022 worth2023 worthChanges
1Johann Rupert202206$9.4 billion$9.8 billion+$400 million
2Nicky Oppenheimer226276$8.6 billion$8.3 billion-$300 million
3Koos Bekker12511291$2.4 billion$2.4 billionNo change
4Patrice Motsepe10651324$2.7 billion$2.3 billion-$400 million
5Michiel Le Roux20042433$1.4 billion$1.1 billion-$300 million

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Who is the richest man in the world?

Elon Musk is the richest man in the world, with a net worth of $241.6 billion.

Who is the richest man in Africa in 2024?

Aliko Dangote (Nigerian) is the wealthiest person in Africa, with an estimated net worth of around $13.5 billion.

Who is the youngest richest man in Africa?

Mohammed Dewji, a Tanzanian billionaire businessman and former politician, is Africa's youngest billionaire, with a net worth of $1.5 billion. He is the CEO of MeTL Group. Mohammed was born on 8th May 1975.

Who is the richest family in Africa?

Aliko Dangote and his family (Nigerians) are the wealthiest in Africa, followed by Rupert and his family (South Africans).

Who is the richest black person in South Africa?

Patrice Motsepe is the wealthiest black person in SA, with a 2.3 billion net worth in 2024.

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Who is the richest person in South Africa?

Johann Rupert is the wealthiest South African, with a net worth of $9.8 billion in 2024.

Who are the richest people in Africa?

The wealthiest people on the continent are Aliko Dangote, Johann Rupert, Nicky Oppenheimer, Nassef Sawiris, Abdulsamad Rabiu, Mike Adenuga, Issad Rebrab, Naguib Sawiris, Patrice Motsepe, and Koos Bekker.

Who are the richest women in South Africa?

The wealthiest ladies in the country are Wendy Appelbaum, Wendy Ackerman, Irene Charnley, Elisabeth Bradley, Mamphela Ramphele, Irene Charnley, Bridgette Radebe, Wendy Ackerman, and Sharon Wapnick.

The richest people in South Africa are billionaires and multimillionaires in US Dollars. They are all hardworking people who have invested time, money, and effort in their companies and businesses.

Briefly.co.za published a list of South African millionaires. Mzansi has the highest number of millionaires compared to other African nations.

There are over 39,000 South African millionaires. Most of them have invested in various businesses.

Source: Briefly News

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