Top 17 South African millionaires in 2024: get to know the richest
Did you know South Africa has the highest number of millionaires compared to other African nations? There are thousands of South African millionaires today. Most of them have invested in various businesses. The country has a favourable business environment and a relatively stable economy.
Source: UGC
TABLE OF CONTENTS
- Top 17 South African millionaires in 2024
- 17. DJ Zinhle - $3 million
- 16. Khanyi Mbau - $10 million
- 15. Duduzane Zuma - $15 million
- 14. Cassper Nyovest - $15 million
- 13. Jacob Zuma - $20 million
- 12. MaMkhize - $21.09 million
- 11. Vusi Thembekwayo - $36.4 million
- 10. Mike Teke - $64 million
- 9. Zwelibanzi Vincent Mntambo - $95 million
- 8. Phuthuma Nhleko - $142 million
- 7. Sipho Abednego Nkosi - $163 million
- 6. Mosima Gabriel "Tokyo" Sexwale - $200 million
- 5. Gerrit Thomas (GT) Ferreira - $420 million
- 4. Cyril Ramaphosa - $450 million
- 3. Adrian Gore - $480 million
- 2. Raymond Ackerman - $500 million
- 1. Lauritz (Laurie) Dippenaar - $610 million
- Recap of the top 15 South African millionaires in 2024
- How many millionaires are there in South Africa?
- Who is the youngest millionaire in South Africa?
- Who is the richest in SA?
- What is Patrice Motsepe's net worth in 2024?
- Who is the richest person in the world?
- Who are some South African millionaires who became broke?
- Are there black billionaires in South Africa?
There are many self-made South African millionaires in 2024. Others were born into wealthy families and have invested in industries that pay well. Some of the wealthiest people in the country are known for their flashy lifestyles.
Top 17 South African millionaires in 2024
Many people dream of becoming wealthy. As a result, they work hard to achieve millionaire status. Discover the top millionaires in contemporary South Africa and the businesses they run.
17. DJ Zinhle - $3 million
Source: Getty Images
- Date of birth: 30 December 1983
- Age: 40 years (as of 2024)
- Businesses: Media career and business ventures
DJ Zinhle is one of the most successful South African millionaires in the entertainment industry. DJ Zinhle's net worth is estimated to be $3 million as of 2024.
She has multiple honors and several successful business enterprises to her credit. Zinhle is an author, entrepreneur, record producer, singer, and proud mother in addition to deejaying.
16. Khanyi Mbau - $10 million
Source: Getty Images
- Date of birth: 15th October 1985
- Age: 38 years (as of 2024)
- Businesses: Media career, liquor sale, and real estate
Khanyisile Mbau, alias Khanyi Mbau, is one of the self-made millionaires in South Africa. She is a renowned media and television personality, actress, artist, and entrepreneur. She was born and raised in Soweto and came into the limelight after starring as Doobsie in SABC 2's soap opera Muvhango.
The actress has a line of gin called I Am Khanyi. The brand represents her persona and style. She has also invested in real estate and runs 2k Business Centres in Sandton.
The actress' assets include luxury cars. Her fleet features a Mercedes-Benz G-Class, Lamborghini Urus, Lamborghini Huracan, Porsche Carrera GTS, and Mercedes-Benz AMG. Khanyi Mbau's net worth is estimated to be $10 million.
15. Duduzane Zuma - $15 million
Source: Getty Images
- Date of birth: 20th May 1982
- Age: 41 years (as of 2024)
- Businesses: Mining, media and hospitality
Duduzane Zuma is a businessman and philanthropist. He is the most popular of Jacob Zuma's children and associates with the Mzansi's National Congress (ANC) political party.
Duduzane bought an R18 million apartment in Burj Khalifa, Dubai, in 2015. Duduzane's posh rides confirm his reputable financial status. As of 2024, Duduzane Zuma's net worth is alleged to be $15 million.
14. Cassper Nyovest - $15 million
Source: UGC
- Date of birth: 16th December 1990
- Age: 33 years (as of 2024)
- Businesses: Record label, apparel store, and liquor production
Refiloe Maele Phoolo, alias Cassper Nyovest, is one of the young millionaires in South Africa in 2024. He is a rapper, entrepreneur, songwriter, record producer, and part-time boxer.
The entrepreneur owns a record label called Family Tree. His apparel line is also called Family Tree. He recently launched a tequila beverage called Billiato and signed a Root of Fame sneaker deal with Drip Footwear.
The rapper's fleet of luxury vehicles includes a McLaren GT, Bentley Continental GT V8, and a Rolls Royce. Cassper Nyovest's net worth is estimated to be $15 million.
13. Jacob Zuma - $20 million
Source: Getty Images
- Date of birth: 12th April 1942
- Age: 81 years (as of 2024)
- Business: Oil, gold, cigarette, diamond, airline and retail industries
Jacob Gedleyihlekisa Zuma is the former president of South Africa and a successful businessman. His family owns the Isthebe Group of Companies with interests in oil, gold, cigarette, diamond, airline, and retail.
He sits on the board of the firm with other family members. He owns multiple assets in different parts of the world, including Dubai and Nkandla. His fleet of vehicles includes two Land Rover Discoveries, four Range Rovers, two Audi Q7s, and three Audi A6s. Jacob Zuma's net worth is allegedly $20 million.
12. MaMkhize - $21.09 million
Source: UGC
- Date of birth: 6th April 1975
- Age: 48 years (as of 2024)
- Businesses: Construction, auto, transport, and football club
MaMkhize is a socialite, businesswoman, philanthropist, and television personality born and raised in Umbumbulu, KwaZulu-Natal. Most people recognise her from the Mzansi Magic reality series Kwa Mam'Mkhize.
After completing her studies, she started a construction company called Zikhulise Group. She is also the founder of Zikhulise Auto Recoveries, Zikhulise Maintenance and Transport, and Inyanga Trading. She also owned Royal Eagles FC, a South African football club, but has since sold itS.
Being in the construction industry means she has invested in properties and is among the richest property moguls in South Africa. Her fleet of cars features a Rolls-Royce Ghost, Ferrari 612 Scaglietti, Porsche Cayenne Turbo, and Maserati GranTurismo.
She is one of the most women South African millionaires. MaMkhize's net worth is guesstimated to be $21.09 million.
11. Vusi Thembekwayo - $36.4 million
Source: UGC
- Date of birth: 21st March 1985
- Age: 38 years (as of 2024)
- Businesses: Real estate, venture capital, and business masterclasses
Many people recognise Vusi Thembekwayo as a venture capitalist, best-selling author, elite coach, mentor, and keynote speaker. He is an advisor to Fortune 500 companies and many blue-chip corporates across the globe.
The venture capitalist's car collection features a BMW X6M, Porsche Boxter, Porsche Cayenne GTS, Aston Martin, and BMW M4. Vusi Thembekwayo's net worth is guesstimated to be $36.4 million.
10. Mike Teke - $64 million
Source: Getty Images
- Year of birth: 1964
- Age: 60 years (as of 2024)
- Business: Mining
Mike Teke is the Chairperson and controlling shareholder of the Masimong Group, an investment firm with interests in mining, agriculture, and financial services. He is also the chief executive officer of Seriti.
Seriti is a South African mining company co-owned by four anchor shareholders: Masimong Group, Zungu Investments, Thebe Investments, and Community Investment Holdings (CIH). Mike Teke's net worth is guesstimated to $64 million.
9. Zwelibanzi Vincent Mntambo - $95 million
- Year of birth: 1959
- Age: 65 years (as of 2024)
- Business: Mining
Zwelibanzi Vincent Mntambo is the founder of Eyesizwe Coal, a mining company. Eyesizwe Coal thrived and earned him financial success.
In 2006, Kumba Coal, Kumba Resources Limited, and Eyesizwe Coal merged to form Exxaro Resources Limited. While Mntambo owns many assets, he has not disclosed what he owns to the public. Zwelibanzi Vincent Mntambo's net worth as of 2024 is allegedly $95 million.
8. Phuthuma Nhleko - $142 million
Source: Getty Images
- Date of birth: 7th April 1960
- Age: 63 years (as of 2024)
- Business: Investments in petroleum, telecommunications, and information technology
Phuthuma Nhleko is a civil engineer by profession. He has invested heavily in multiple industries. In 1994, he founded Worldwide African Investment Holdings. The company has interests in IT, petroleum, and telecommunications.
In 2012, he co-founded the Phembani Remgro Infrastructure Fund with Johann Rupert. Pembani Remgro Infrastructure Fund is the former Worldwide African Investment Holdings. He owns multiple properties, cars, and other assets in the country. Phuthuma Nhleko's net worth is allegedly around $142 million.
7. Sipho Abednego Nkosi - $163 million
- Year of birth: 1954
- Age: 70 years (as of 2024)
- Business: Stock trading
Sipho Abednego Nkosi owns over 89,000 units of Tronox PLC stock worth. He is the director of this company and has been engaging in stock trading for years.
He is also the chief executive officer of Exxaro Resources. The business mogul is notoriously quiet about his private life, and details of his assets are scarce online. Sipho Abednego Nkosi's net worth is guesstimated to be $163 million.
6. Mosima Gabriel "Tokyo" Sexwale - $200 million
Source: Getty Images
- Date of birth: 5th March 1953
- Age: 70 years (as of 2024)
- Businesses: Mvelaphanda Group and Tiso Blackstar Group
Mosima Gabriel "Tokyo" Sexwale is ranked among the top 10 South African millionaires in 2024. He is the founder of Mvelaphanda Group, a company with interests in mining, financial services, real estate, and healthcare. He also founded Tiso Blackstar Group, a media company.
The business mogul owns multiple properties in South Africa, a fleet of luxurious vehicles, and other undisclosed assets. Tokyo Sexwale's net worth is alleged to be $200 million.
5. Gerrit Thomas (GT) Ferreira - $420 million
Source: Getty Images
- Date of birth: 6th April 1948
- Age: 75 years (as of 2024)
- Business: Banking
Gerrit Thomas (GT) Ferreira is a respected businessman, investor, and banker. He is one of the founders of FirstRand Bank, alongside Laurie Dippenaar and Paul Harris. He founded Rand Consolidated Investing, which became FirstRand Bank after several mergers and acquisitions.
He runs a family-owned vineyard called Tokara and a nature conservancy. He also owns other properties and a fleet of luxury vehicles. GT Ferreira's net worth is guesstimated to be $420 million.
4. Cyril Ramaphosa - $450 million
Source: Getty Images
- Date of birth: 17th November 1952
- Age: 71 years (as of 2024)
- Business: Shanduka Group (investment company)
Cyril Ramaphosa is one of the leading black South African millionaires in 2024. He is the fifth democratically elected president of the Republic of South Africa. Since assuming government positions, he stepped back from his business pursuits to avoid conflict of interest.
He is the founder of Shanduka Group, an investment firm with interests in multiple industries. Due to his position, President Ramaphosa is chauffeured in a presidential motorcade. He also has a personal car collection and multiple properties in Cape Town and Johannesburg. Cyril Ramaphosa's net worth is guesstimated to be $450 million.
3. Adrian Gore - $480 million
Source: Getty Images
- Date of birth: 16th May 1964
- Age: 59 years (as of 2024)
- Business: Insurance
Adrian Gore is among the top 10 richest men in South Africa in 2024. He is the founder of Discovery Holdings, a leading insurance firm in the country. His company provides health insurance for at least 200,000 companies and about two million people.
The business mogul enjoys cars and likes the thrill of speed. Even so, he thinks cars are a waste of money. He is yet to disclose the luxury models he owns. Adrian Gore's net worth is guesstimated to be $480 million.
2. Raymond Ackerman - $500 million
- Date of birth: 10th March 1931
- Age: 92 years (as of 2024)
- Business: Pick 'n Pay supermarket group
Raymond Ackerman runs his business together with his family. He is the founder of the Pick N Pay Group supermarket chain. His venture has over 870 retail stores across Africa, Zimbabwe and Australia.
While he owns multiple vehicles and properties, there is no information about them in the public domain. His advanced age has made him step aside from the business. His children are running it. Raymond Ackerman's net worth is alleged to $500 million.
1. Lauritz (Laurie) Dippenaar - $610 million
Source: Getty Images
- Date of birth: 25th October 1948
- Age: 75 years (as of 2024)
- Business: Financial services
Lauritz (Laurie) Dippenaar has invested in financial services. In 1977, he co-founded Rand Consolidated Investing. After a series of acquisitions and mergers, he formed FirstRand Bank, one of the leading financial institutions in South Africa.
The businessman, investor, and banker is a multi-millionaire who lives a quiet life. He has a palatial property in Johannesburg. As of 2024, Laurie Dippenaar's net worth is estimated to be $610 million.
Recap of the top 15 South African millionaires in 2024
| Position | Name | Estimated net worth |
| 1 | Lauritz (Laurie) Dippenaar | $610 million |
| 2 | Raymond Ackerman | $500 million |
| 3 | Adrian Gore | $480 million |
| 4 | Cyril Ramaphosa | $450 million |
| 5 | Gerrit Thomas (GT) Ferreira | $420 million |
| 6 | Mosima Gabriel "Tokyo" Sexwale | $200 million |
| 7 | Sipho Abednego Nkosi | $163 million |
| 8 | Phuthuma Nhleko | $142 million |
| 9 | Zwelibanzi Vincent Mntambo | $95 million |
| 10 | Mike Teke | $64 million |
| 11 | Vusi Thembekwayo | $36.4 million |
| 12 | MaMkhize | $21.09 million |
| 13 | Jacob Zuma | $20 million |
| 14 | Cassper Nyovest | $15 million |
| 15 | Duduzane Zuma | $15 million |
| 16 | Khanyi Mbau | $10 million |
| 17 | DJ Zinhle | $3 million |
How many millionaires are there in South Africa?
South Africa is home to about 39,300 high net worth individuals (HNWIs). Out of these, 2,080 are multi-millionaires with a net wealth of at least $10 million.
Who is the youngest millionaire in South Africa?
Sandile Shezi is recognised as the youngest millionaire in the country. He is among the few known South African forex millionaires. He was born in 1993 and is the founder and CEO of Global Forex Institute.
Who is the richest in SA?
The richest man in South Africa is Johann Rupert. He has a guesstimated net worth of $10.2 billion as of 2024.
What is Patrice Motsepe's net worth in 2024?
As of 2024, Patrice Motsepe's net worth is guesstimated to be $2.5 billion. He is the founder and chairman of African Rainbow Minerals, and he attained billionaire status in 2008.
Who is the richest person in the world?
The wealthiest person in the world is Elon Musk, with a net worth of $255.6 billion. He is the founder of Tesla and SpaceX.
Who are some South African millionaires who became broke?
There are several South African millionaires who went broke, including Prokid, Mandoza, Baby Jake Matlala, Brown Dash, and the late Brenda Fassie.
Are there black billionaires in South Africa?
Yes, Patrice Motsepe is a black billionaire from South Africa. Patrice Motsepe's net worth is $2.5 billion.
There are thousands of South African millionaires in 2024. The list above shows the top 17 people who acquired wealth by running successful businesses.
Briefly.co.za recently published a list of the cheapest cars in South Africa. A car has become a necessity rather than a luxury in contemporary South Africa.
One of the biggest factors determining the type of car one purchases is the budget. The cheapest vehicles in the country offer comfort and convenience without emptying your bank account.
Source: Briefly News
Jedidah Tabalia Jedi is a journalist with over 5 years working experience in the media industry. She has a BSc. in Human Resource Management from Moi University (graduated in 2014) and a working in progress MBA in Strategic Management. Having joined Genesis in 2017, Jedi is a passionate Facts and Life Hacks, Fitness, and Health content creator who sees beauty in everything. She loves traveling and checking out new restaurants. Her email address is jedidahtabalia@gmail.com
Cyprine Apindi (Lifestyle writer) Cyprine Apindi is a content creator and educator with over six years of experience. She holds a Diploma in Mass Communication and a Bachelor’s degree in Nutrition and Dietetics from Kenyatta University. Cyprine joined Briefly.co.za in mid-2021, covering multiple topics, including finance, entertainment, sports, and lifestyle. In 2023, she finished the AFP course on Digital Investigation Techniques. She received the 2023 Writer of the Year Award. In 2024, she completed the Google News Initiative course. Email: cyprineapindi@gmail.com
