Cyril Ramaphosa's net worth: How rich is SA's 5th president?

Cyril Ramaphosa's net worth: How rich is SA's 5th president?

Cyril Ramaphosa is a South African businessman and politician serving as South Africa’s fifth president since 2018. He is a former anti-apartheid activist widely recognized as the leader of the African National Congress (ANC). But beyond his political ventures, Ramaphosa is considered one of the country’s wealthiest entrepreneurs due to his business acumen and savvy investment projects. So, what is Cyril Ramaphosa’s net worth?

Cyril Ramaphosa's net worth
President Cyril Ramaphosa at the Houses of Parliament in 2022 (L). The political leader during a campaign in 2021 (R). Photo: Toby Melville, Phill Magakoe via Getty Images (modified by author)
Source: UGC

TABLE OF CONTENTS

Ramaphosa gained notoriety as the secretary general of South Africa’s most prominent and influential trade union, the National Union of Mineworkers. Later on, he became well known as a business magnate, including the chair of the board for MTN and an owner of McDonald’s South Africa. Discover fascinating details about Cyril’s career achievements and earnings.

Cyril Ramaphosa's profile summary

Full name Matamela Cyril Ramaphosa
Famous asCyril Ramaphosa
GenderMale
Date of birth17 November 1952
Age71 years old (2024)
Zodiac signScorpio
BirthplaceSoweto, Johannesburg, South Africa
NationalitySouth African
EthnicityBlack
ReligionChristianity
Alma materUniversity of Limpopo, University of South Africa
Hair colourBlack
Eye colourDark brown
SexualityStraight
Marital statusMarried
SpouseTshepo Motsepe
Children5
ParentsSamuel and Erdmuth Ramaphosa
Siblings2
ProfessionPolitician, businessman, lawyer, trade union leader and former anti-apartheid activist
Political partyAfrican National Congress
Net worth$450 million
Famous asSouth Africa’s fifth president
Social mediaInstagramX (Twitter)

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How old is Cyril Ramaphosa?

Matamela Cyril Ramaphosa (aged 71 as of 2024) was born on 17 November 1952 in Soweto, Johannesburg, South Africa to Venda parents. He is the second of three children to Erdmuth and retired police officer Samuel Ramaphosa.

Cyril Ramaphosa's facts
President of South Africa Cyril Ramaphosa during a joint press conference with African leaders and President of Ukraine Volodymyr Zelensky in 2023. Photo: STR
Source: Original

Ramaphosa attended Tshilidzi Primary School and Sekano Ntoane High School in Soweto. In 1981, he earned his Bachelor of Procuration degree from the University of South Africa.

What is Cyril Ramaphosa’s net worth in 2024?

Africa Check estimated Ramaphosa’s net worth to be over R6.4 billion ($450 million) as of 2018. While his current net worth remains speculative, it is clear that his wealth has significantly increased since then. Cyril has amassed this wealth from his success in politics and business.

How did Cyril Ramaphosa make his money?

Born and raised in a humble background, Ramaphosa grew up conscious about diversifying his income. Below are some of the revenue-generating channels that have significantly contributed to his financial success: 

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Political career

In 1991, Matamela was elected ANC’s secretary general under the late Nelson Mandela’s leadership. After the country’s first fully democratic election in 1994, he was elected chairperson of the Constitutional Assembly.

Cyril took a political hiatus but returned in 2012 at the political party’s 53rd National Conference. From 2014 to 2018, he served as the deputy president of South Africa under president Jacob Zuma.

South Africa's President Cyril Ramaphosa during the second day of the three-day G7 summit at Schloss Elmau in 2022
South Africa's President Cyril Ramaphosa during the second day of the three-day G7 summit at Schloss Elmau in 2022. Photo: Thomas Lohnes
Source: UGC

On 14 February 2018, the National Assembly voted for Ramaphosa as the president after Zuma’s resignation.

He won the country’s general election in 2019 and became the chairperson of the African Union the following year. As president, he spearheaded South Africa’s response to the COVID-19 pandemic in 2020.

Which companies does Cyril Ramaphosa own?

In 1996, Matamela resigned from active politics to concentrate on personal ventures. He founded the investment holding company, Shanduka Group, which specialized in real estate, mining, banking and insurance.

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The entrepreneur also took on several board positions, including the chairman of Mondi, Bidvest, MTN and Lonmin. In 2011, he entered a master franchise agreement to own McDonald’s in South Africa.

As documented by BusinessTech, Cyril sold Shanduka Group to the Pembani Group in June 2015. This transaction reportedly netted him over R2.5 billion ($200 million)

How much does Cyril Ramaphosa earn per month?

According to Celebrity Net Worth, Cyril Ramaphosa’s salary is R3,900,000 annually, which translates to R325,000 per month.

President Cyril Ramaphosa during the 2024 African National Congress briefing
President Cyril Ramaphosa during the 2024 African National Congress briefing. Photo: Anders Pettersson
Source: UGC

What does Ramaphosa do with his salary?

In 2018, the South African president announced that he was going to donate half of his salary to charity via an X (Twitter) post that read:

I have decided to contribute half my presidential salary to a fund managed by the Nelson Mandela Foundation. The fund will direct resources to the many small projects scattered nationwide.

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Cyril Ramaphosa’s cars

As the president of one of Africa’s most prestigious countries, Cyril owns a couple of luxurious rides in his fleet. Below are some of his automobiles per AnswersAfrica:

  • Mercedez Benz C64 AMG
  • BMW X3 M40i
  • Toyota 4×4 Hilux Raider
  • Volkswagen Polo

Cyril Ramaphosa’s house

The political leader resides in Bryntirion Estate, Pretoria, in a residence known as Mahlamba Ndlofu.

Since 1940, this has been the home to South African presidents and their families. Nonetheless, Ramaphosa is a big player in the real estate game. He allegedly owns buildings that make up several townhouses and apartments in Cape Town and Johannesburg.

Additionally, Cyril has a game farm, Phala Phala, where he rears expensive animal breeds, including buffalos and cows.

South African President Cyril Ramaphosa during a bilateral meeting with U.S. President Joe Biden in the Oval Office of the White House in 2022
South African President Cyril Ramaphosa during a bilateral meeting with U.S. President Joe Biden in the Oval Office of the White House in 2022. Photo: Pete Marovich
Source: UGC

How many Ankole cows does Ramaphosa have?

While the exact number of cows in Cyril’s herd remains a mystery, he annually holds an auction for the Ankole and Boran cattle. According to BusinessLIVE, the 2024 auction grossed R15 million, and the top-selling animal was purchased for R1.8 million.

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Cyril Ramaphosa's net worth places him among the richest South African individuals. With his decade of political experience and significant role in the anti-apartheid movement, he has accumulated a massive fortune.

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Source: Briefly News

Authors:
Ruth Gitonga avatar

Ruth Gitonga (Lifestyle writer) Ruth Gitonga has a background experience in Mass Communication for over six years. She graduated from the University of Nairobi with a degree in Mass Communication in December 2014. In 2023, Ruth finished the AFP course on Digital Investigation Techniques. She has worked for Briefly.co.za for five years now. She specializes in topics like lifestyle, entertainment, travel, technology, and sports. Email: gitongaruth14@gmail.com.

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