Herman Mashaba's net worth: How rich is the ActionSA leader?

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.

Herman Mashaba's net worth
ActionSA leader Herman Mashaba during the announcement of the ActionSA Western Cape Premier candidate in Manenberg (L). Photo: Deaan Vivier/Brenton Geach (modified by author)
Source: Getty Images


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 nameHerman Samtseu Philip Mashaba
Date of birthAugust 26, 1959
Age64 years old in 2024
Birth signVirgo
Place of birthHammanskraal, Transvaal, South Africa
Current residenceSandton, Johannesburg, South Africa
NationalitySouth African
Sexual orientationStraight
Marital statusMarried
WifeConnie Mashaba (1982 to date)
ChildrenTwo, a son and a daughter
EducationUniversity of the North (BAdmin in Political Science and Public Administration-he dropped out)
ProfessionEntrepreneur, politician, author
Political partyActionSA (2020 to date), Democratic Alliance (2014 to 2019)
Social mediaInstagramX (Twitter)Facebook

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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.

Herman Mashaba's facts
Top 5 facts about businessman and politician Herman Mashaba. Photo: Deaan Vivier on Getty Images (modified by author)
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. 

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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.

Herman Mashaba's party manifesto announcement
Herman Mashaba delivers ActionSA's manifesto for the local government elections at the Old Park Station in Johannesburg. Photo by Phill Magakoe
Source: Getty Images

Herman Mashaba's political career

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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.

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ActionSA president Herman Mashaba
Herman Mashaba at the ActionSA Press Briefing in Sandton, South Africa. Photo: Sharon Seretlo
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. 

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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.
Herman Mashaba in Johannesburg
Herman Mashaba during the announcement of ActionSA mayoral candidates for metros in Johannesburg, South Africa. Photo: Luba Lesolle
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. 

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Alice Wabwile (Lifestyle writer) Alice Wabwile is a multifaceted content creator and Project Assistant at AfDAN, boasting over four years of experience. Holding a BCom degree from the University of Nairobi School of Business, she has cultivated a dynamic skill set through roles such as her tenure at Strathmore University's Data Science Department, where she contributed significantly to research. Recognized for her exceptional talent, she clinched the Writer of the Year Award. Beyond her professional endeavours, Alice is an engaged member of the Rotaract Club of Kabete. For inquiries, reach out to her at alicenjoro01@gmail.com

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