- 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
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.
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.
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