Herman Mashaba's net worth: How rich is the ActionSA leader?
Herman Mashaba's success story is one of rags to riches. He is among the first black entrepreneurs from South Africa to expand their market to the UK. Today, he is a respected politician and leader of ActionSA with a multi-million-dollar empire. This article looks at Herman Mashaba's net worth and his rise to become one of SA's richest men.
Source: Getty Images
TABLE OF CONTENTS
Mashaba was raised in a poor background in Hammanskraal, Transvaal. Determined to break the family's poverty cycle, he studied until tertiary level but did not graduate. He then worked a few jobs before he ventured into business. Today, he resides in the Sandton suburbs with his wife, Connie Mashaba, and their two children.
Herman Mashaba's profile summary
| Full name | Herman Samtseu Philip Mashaba |
| Date of birth | August 26, 1959 |
| Age | 64 years old in 2024 |
| Birth sign | Virgo |
| Place of birth | Hammanskraal, Transvaal, South Africa |
| Current residence | Sandton, Johannesburg, South Africa |
| Nationality | South African |
| Gender | Male |
| Sexual orientation | Straight |
| Marital status | Married |
| Wife | Connie Mashaba (1982 to date) |
| Children | Two, a son and a daughter |
| Education | University of the North (BAdmin in Political Science and Public Administration-he dropped out) |
| Profession | Entrepreneur, politician, author |
| Political party | ActionSA (2020 to date), Democratic Alliance (2014 to 2019) |
| Social media | InstagramX (Twitter)Facebook |
Herman Mashaba's net worth in 2024
Herman Mashaba's net worth in rands is estimated to be around R1.8 billion ($100 million), according to various sources, including BuzzSouthAfrica and Entrepreneur Hub SA.
Source: Original
How did Herman Mashaba make his money?
After being forced to drop out of the University of the North (now the University of Limpopo) in his second year, Herman Mashaba started working as a clerk. He later joined SuperKul hair products company as a sales representative.
In his previous interview, Herman said he was inspired to start a business because getting a salary was getting him nowhere. He saw an opportunity in the hair market and took it.
I wanted to take personal responsibility for my life. At that time, hair salons were mushrooming all over the townships. I saw market potential for the products, and since I had prior knowledge of the industry, it was the next best step.
In 1985, he partnered with Afrikaaner pharmacist Johan Kriel and fellow salesman Joseph Molwantwa to launch Black Like Me with R30,000 that he borrowed from friends. By 1993, the hair care company was worth R10 million.
He operated from Mabopane township, north of Pretoria and later built his factory because apartheid laws prevented him from renting or purchasing property in an industrial area. By 2002, his Black Like Me products were selling on international markets, including the UK.
Herman stepped down as the CEO of Black Like Me in 2004, but he still holds the majority of the shares and serves as a non-executive director. His wife, Connie Mashaba, currently serves as the director of the hair care brand.
Today, Mashaba has investments in various companies, including Lephatsi Investments, which has interests in construction, mining, and logistics. He is also actively involved in empowering upcoming businesses.
Source: Getty Images
Herman Mashaba's political career
The entrepreneur was selected as chairman of the Free Market Foundation in 2012. He resigned in early 2014 to join SA's main opposition party, the Democratic Alliance, a decision that was criticized by blacks because of DA's association with white privilege.
He became the first non-ANC politician to become Johannesburg mayor when he was sworn in in August 2016. In October 2019, he revealed his decision to step down as mayor after disagreements within the DA party.
In August 2020, he launched his political party, ActionSA. While talking to The Citizen, the entrepreneur said he did not like politics but joined because the current ANC party has failed to uphold its values.
I grew up thinking the ANC was a liberation movement. But I am disappointed today to call them a criminal enterprise...I hate this job. Politics is a punishing job. I have to do it, and I won't leave until we have unseated the ANC. I hate them because they forced me into politics.
Source: Getty Images
Herman Mashaba's books
The hair care businessman is a jack of many trades, including writing. He is a published author with two books. His first book, Black Like You (2012), is based on his life.
In 2015, Mashaba released his second book, Capitalist Crusader: Fighting Poverty Through Economic Growth (2015). In it, he details how capitalism is the best way to save South Africa from unemployment, poverty, and inequality.
Herman Mashaba never let setbacks deter his rise to the top
Herman's journey to building a multi-million empire did not come easy. He was almost driven out of business in 1993 when someone set his Black Like Me factory on fire, destroying an empire he had built since 1985. In his interview with Forbes Africa, he revealed that he survived the ordeal by miracle.
November 17, 1993, is a day I will never forget. It's a day I have difficulty explaining but out of it came a lot of lessons. The incident itself was horrific; how I survived was a miracle. Only God knows.
The arsonist was never prosecuted, and insurance was slow to cover the loss. He used his savings to find a place in Midrand and was able to return to full production in two years.
Mashaba understands that running a business is risky. He told the How We Made It in Africa publication that the possibility of a negative outcome is what keeps him at night and inspires him not to take anything for granted.
What keeps me awake at night is the idea that one day things will turn out in a negative way because it is business, and one's life can always [suddenly] turn the other way. So I am always really nervous about this, and that is what keeps me awake at night and gets me to wake up every morning to go to work because I don't want to take things for granted.
Source: Getty Images
The question 'Is Herman Mashaba a millionaire?' is common today due to his thriving businesses. His current net worth is a testament to his hard work and resilience. As a self-made entrepreneur, his success remains to be an inspiration to those who look up to him.
READ ALSO: Grace Charis's net worth and biography: Meet the TikTok golf star
Briefly.co.za shared all you need to know about Grace Charis' net worth. The famous golf influencer has amassed millions of followers across her various social media platforms.
Grace Charis is one of the few sports influencers who has successfully leveraged her passion for golf into a flourishing online career. Check the article for more on how she makes her money.
Source: Briefly News
