Patrice Motsepe, Nicky Oppenheimer and 3 Other South African Billionaires With Massive Bank Accounts
South Africa’s billionaires keep raking in the dough. Despite the country’s rocky economy, SA’s richest person Johann Rupert is worth about $10.8 billion (about R189 billion), sparking many questions about his line of work.
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Michiel le Roux, Patrice Motsepe, Koos Bekker and Nicky Oppenheimer are some of the country’s top earners. Briefly News looks into the professions of five businessmen who continue to make billions.
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1. Johann Rupert – a genius businessman
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Following in his father's footsteps, Johann Rupert was expected to be a great businessman from a young age. His journey in the entrepreneurial world began when he served as an apprentice at Chase Manhattan.
During this time, Rupert learned the tricks of the trade. Upon returning to South Africa, the now billionaire took on the position of CEO of Rand Merchant Bank which he formed in 1976.
According to Forbes, Rupert holds the position of chairman at Swiss luxury goods firm Compagnie Financiere Richemont. The company is best known for the brands such as Cartier and Montblanc.
He is ranked 230 on the world’s billionaire list and the second richest on the African continent. He is worth $10.8 billion (about R189 billion).
2. Self-made billionaire Michiel le Roux
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Coming in second on the list is Michiel le Roux, the brains behind Capitec bank. The bank is a favourite among South Africans and was founded in 2001.
Capitec has more than 800 branches and over 13 000 employees. Le Roux is considered a self-made billionaire by Forbes and owns an 11% stake in the profitable company.
The businessman previously ran Boland Bank, which is a small regional bank in Cape Town's hinterland, before he set his sights on creating Capitec.
Le Roux served as the chairman of the board from 2007 to 2016 and has been an active board member. His net worth stands at $1.4 billion (R24 billion).
3. Patrice Motsepe mines his way to success
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One of the country’s most influential people is Patrice Motsepe. The self-made billionaire became the first black African to be featured on the Forbes list in 2008.
He has had a remarkable career and dabbles in various sectors of the country. In 2016, the businessman launched African Rainbow Capital, a private equity firm that focuses on investing in the African continent.
During the early days of his career, Motsepe was named partner at a law firm, Bowman Gilfillan in Johannesburg and began his mining contracting business. He bought low-producing gold mine shafts and turned them into a profit.
The businessman also has a love for sports and is the president and owner of the Mamelodi Sundowns Football Club. Motsepe has a net worth of about $2.7 billion (R 47 billion), making him the ninth richest person in Africa.
4. Koos Bekker – a media mogul
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Koos Bekker is considered to be one of the country’s earliest millionaires, making his wealth in the media and investment sectors.
Through his company Naspers, the billionaire invested in the internet, newspapers, books, magazines, online media and education. His move to purchase a third of a Chinese internet firm for millions is thought to be one of the greatest investments ever.
The company was once a leading investor at M-Net/Multichoice group. Despite retiring as the CEO of Naspers in 2014, Bekker returned as chairman in 2015.
The billionaire also holds several qualifications, including a Bachelor’s degree in law from Stellenbosch University. Bekker is ranked the 10th richest person in Africa and has a net worth of $2.4 billion (R42 billion).
5. Nicky Oppenheimer – heir to his family’s fortune
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Probably one of the more controversial billionaires on the list, Nicky Oppenheimer hails from generational wealth and was heir to his family’s companies. The businessman joined a mining firm in 1968 and just four years later was appointed director.
He then took on the position of deputy chair in 1983 but later resigned from the position in 2001. Nicky was also appointed chairperson of the De Beers in 1985 before it turned into Anglo-American South Africa Limited.
The Oppenheimer family held a controlling spot for the world’s diamond trade for 85 years up until 2012. Nicky also owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe.
According to Forbes during the pandemic, the businessman donated over a billion to local small businesses. Nicky is ranked the third wealthiest person in Africa and has a net worth of $8.6 billion (R150 billion).
According to Business Tech, most of these billionaires have also climbed the global rankings.
Elon Musk’s net worth plummets, loses R1.74 trillion for the first time
Briefly News also reported that Elon Musk lost about R1.74 trillion ($100 billion) this year as Tesla shares continue to plummet.
The dip was not enough to knock Musk off his post as one of the richest people in the world, as his fortune of over R2.94-trillion stands tall.
On Monday, 21 November, shares dropped 6.8% to $167.87 (about R2900) in New York trading.
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Source: Briefly News
