Adding to his wealth: Ramaphosa to earn more than his predecessor Zuma

Adding to his wealth: Ramaphosa to earn more than his predecessor Zuma

- According to the budget given by Finance Minister Malusi Gigaba on Wednesday, Cyril Ramaphosa would earn R3.6 million annually

- This means his salary exceeds that of his predecessor, Jacob Zuma, by almost R700 000

- Last year, Jacob Zuma was the highest paid president in Africa, earning a yearly salary of R2.9 million

PAY ATTENTION: Click "See first" under the "Following" tab to see Briefly news on your News Feed!

Cyril Ramaphosa is one of the richest men in South Africa. As of 2018, his estimated net worth stands at $450 million (R5.67 billion).

And, he would obviously receive a salary for his role as head of state, which Malusi Gigaba stated in the budget on Wednesday as R3.6 million annually.

This means his salary exceeds that of his predecessor Jacob Zuma by around R700 000. The budget also revealed Ramaphosa's deputy would receive R3.2 a year, which is also more than what the former South African president made.

However, despite Ramaphosa's salary being more than Zuma's, it is far less than what the county's biggest executives make.

READ ALSO: Budget Speech 2018: 3 reasons Gigaba may have a future in comedy

Vodacom's CEO Shameel Joosub's annual salary is three times more than Ramaphosa's. Shoprite head Whitey Basson also crushes the new president's annual income.

Eyewitness News reported even Anoj Singh, former Eskom CFO, received a higher salary than Ramaphosa.

Briefly.co.za learned Singh told Parliament's Eskom inquiry he received R4.6 million a year.

Luckily, Ramaphosa has his $450 million to fall back to, his presidency salary is chump change compared to his net worth.

Do you have a story to share with us? Inbox us on our Facebook page and we could feature your story.

To stay up to date with the latest news, download our news app on Google Play or iTunes today

Source: Briefly.co.za

Related news
Teacher leaves job at Michealhouse over inappropriate relationship with pupil

Michaelhouse teacher resigns over inappropriate relationship with student

Michaelhouse teacher resigns over inappropriate relationship with student
Briefly.co.za