SA Wowed by List of Billionaires in SA with Ramaphosa Being the Least Wealthy

• A TikTokker gave South Africans major chest pains after they posted a list of billionaires in the country
• The list showed President Cyril Ramaphosa as the least wealthy among the successful businessmen in the country
• Social media users were stunned to see the amount of money some of the wealthy people in the province had

South Africans caused quite a buzz online after seeing the billionaires list on TikTok that featured President Cyril Ramaphosa.

The president came in last place with R7.75 billion. Ramaphosa’s billionaire status comes mainly from his business career before becoming president.

After leaving politics in the mid-'90s, he founded Shanduka Group, an investment holding company. Through the company, he built stakes in several big South African and multinational companies, including:

• McDonald’s South Africa, where he owned the franchise rights.
• He secured Coca-Cola South Africa through joint ventures.
• He held shares and board positions at MTN Group, Standard Bank, Alexander Forbes, and Bidvest.

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The Phala Phala Game Farm is also one of Ramaphosa’s big moneymakers. It’s a wildlife farm in Limpopo and also a luxury game breeding and hunting business.

They sell high-value animals like buffalo, antelope, and rare cattle. The property gained international recognition during the Phala Phala scandal.

More South African billionaires, including Patrice Motsepe

Coming in at number nine is Stephen Saad, the co-founder of Aspen Pharmacare in 1997. The business grew into the largest generic pharmaceuticals company in Africa, making him worth R24.11 billion.

Christoffel Wiese came in at number eight. He’s a businessman who bought a controlling share at Pepkor after graduating from university. He then transformed Shoprite from a small chain into a massive supermarket and retail group.

Today, Wiese has an estimated net worth of R31.01 billion. In number seven, we have Jannie Muoton, a businessman worth R32.73 billion.

Mouton co-founded an investment firm, PSG Group, and Capitec Bank. Michiel le Roux, the co-founder of Capitec Bank, filled the number six spot with a net worth of R44.9 billion.

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Top 5 South African billionaires

• 5. Patrice Motsepe (R58.58 billion)
• 4. Koos Bekker (R60.29 billion)
• 3. Ivan Glasenberg (R179.15 billion)
• 2. Nicky Oppenheimer (R180.91 billion)
• 1. Johann Rupert (R256.73 billion)

SA wowed by list of top 10 billionaires in the country

Social media shared their thoughts in a thread of comments:

@Luvo Ndamase highlighted:

“This list should be the richest people in South Africa, not the richest South Africans.”

@wil_dlaba commented:

“I'm just wondering about my ranking if I have R378.61 in my bank account.”

@Ama and 49 977 others commented:

“Ramaphosa has R7 billion, yet he's still stealing money.”

@Mbulaz'Omnyama79 shared:

“I will stop buying McDonald's.”

@Latoya M 🇿🇦 was amazed:

“So Mr President and his brother-in-law are billionaires?”

@Nunekazi MamXesibe noticed:

“Cupcake and his brother-in-law are the only black ones.”

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@shev_lam🇿🇦 explained:

“There are people monopolising money in SA, but our people are living in townships, and there are no jobs. It should be illegal to be a billionaire.”

See the TikTok post below:

3 More money-related stories by Briefly News

• One lucky South African lady had tongues wagging after cleaning her R13.9 million Lotto winnings in three months.
• A young South African lady gave Mzansi chest pains after sharing how she made her first million at 17 while awaiting matric results.
• South Africa spends R1.21 billion daily, according to revelations made during the budget speech, leaving many wondering how this affects ordinary citizens.

Source: Briefly News