Ranking: The 10 wealthiest individuals in SA – 2017

Business Times has discharged its most recent Rich Rundown, uncovering the wealthiest individuals in South Africa.

“The riches table for the Rich Rundown mirrors the revealed possessions of JSE-recorded organizations’ executives as at November 30 2016,” expressed the Sunday Times.

The Rich Rundown research was incorporated by Who Claims Whom.

At number one was Christo Wiese, worth R81.26 billion.

“For the second year in succession he drives the Rich Rundown, subsequent to unseating Glencore Chief Ivan Glasenberg in 2014.”

“Wiese is additionally the greatest washout after the estimation of his shareholdings in Brait, Shoprite, and Steinhoff Universal, to give some examples, fell R23.5 billion from a year prior.”

The main 10 rundown is demonstrated as follows.

1. Christo Wiese – R81.26 billion

richest in south africa

After playing a role in helping Shoprite acquire distributor Senta, Wiese started expanding his business into franchising new locations for Shoprite department stores. He also purchased the struggling OK Bazaars from South African Breweries for one rand in 1997; inserting 157 supermarkets and 146 furniture stores to the company and adding jobs to the area. In 2011, Wiese’s Shoprite stores were considered to be the sixth overall favourite brand, with a third most valued brand in terms of community upliftment in South Africa.  In addition to Shoprite, Wiese owns more than 1200 corporate outlets under various names.  Shares of Shoprite rose by 50% on the South African stock market from March 2011 to March 2012, with Wiese making a $1.5 billion profit.  Wiese has a net worth of $6.8  billion and is the Executive Director of South African retail giant Shoprite (JSE: SHP). Wiese has been chairman of Invicta Holdings Limited since 2006.

2. Ivan Glasenberg – R59.98 billion

Ivan Glasenberg

He was charged with tax evasion and illegal deals with Iran but was later pardoned by US President Bill Clinton. Glencore is the corporate successor to Marc Rich & Co AG.  As of August 2011, it has been reported that, due to the economic climate, Glasenberg lost GB£788 million as his share price plummeted 13.2 per cent leaving his 15.8 per cent of the company worth GB£4.7 billion.  In September 2011, using his own dividends, Glasenberg started buying a larger share of Glencore, buying up to an additional US$54 million of Glencore stock.  In April 2012 it was reported that Glasenberg held more than 15 per cent of Glencore’s stock, placing him as the 20th richest mining billionaire, with Forbes estimating his net worth at US$7.3 billion.  Glasenberg became CEO of the mergered entity created when Glencore and Xstrata finalised one of the largest mining company mergers in history creating a US$88 billion company.  Originally Xstrata CEO Mick Davis was to be CEO while Glasenberg would be President in a merger of equals transaction, however due to holding out of major Xstrata shareholder Qatar, it became a takeover target,  with a 3.05 Glencore to 1 Xstrata Share exchange to create the new entity Glencore Xstrata with Glasenberg becoming CEO.

3. Stephen Saad – R16.04 billion

Stephen Saad

Stephen Bradley Saad was conceived in June 1964, and brought up in Durban, South Africa. He went to the Durban High School in Durban. He moved on from the University of Natal, where he got a Bachelor of Commerce.  He played rugby in Ireland and contemplated to end up plainly a sanctioned accountant.

He began his vocation at Quickmed, a doctor prescribed medication appropriation organization in dark townships amid apartheid. At the age of twenty-nine, he sold his partake in Covan Zurich for US$3 million, in this way turning into a millionaire.

In 1997, together with Gus Attridge, he helped to establish Aspen Pharmacare, an open organization exchanged on the Johannesburg Stock Exchange. It has turned into the biggest maker of non specific meds on the African continent. He fills in as its Chief Executive and Gus Attridge as its Deputy Chief Executive, and serves on its Board of Directors. In 2011, he was worth US$640 million, getting to be noticeably one of Africa’s 40 wealthiest people.  His stock portfolio went up 75% in 2013. He is presently worth US$1.4 billion.

Furthermore, he seats the Sharks, a rugby union club in Durban. He likewise sits on the Board of Trustees of his institute of matriculation, the Durban High School. In 2014, he was granted a privileged doctorate from Nelson Mandela Metropolitan University for the positive part of Aspen in the city of Port Elizabeth

4. John Whittaker – R15.87 billion

John Whittaker
Although publicity-shy, he has been named as one of the most influential business leaders for Greater Manchester and the North West by the Manchester Evening News and was named the most influential northerner by Big Issue magazine in 2010 thanks to his large investments in North West England and wider afield in Northern England. Whittaker was born to John and May Whittaker in Bury, Lancashire in 1942.

5. Laurie Dippenaar – R12.86 billion

Laurie Dippenaar

Lauritz Laurie Dippenaar is a South African self made millionaire businessman,investor & banker who is the Chairman of FirstRand financial Group.

 

6. Bruno Steinhoff – R12.56 billion

Bruno Steinhoff rang the chime at the Frankfurt Stock Exchange in December 2015, celebrating as the furniture maker he established in 1964 come back to Germany following 17 years on the Johannesburg Stock Exchange. Steinhoff International Holdings is presently Europe’s second biggest furniture retailer, behind Ikea. Steinhoff first began his furniture dissemination business in 1964, in Westerstede, Germany. He moved into assembling in 1971, and in the 1980s began gaining various littler organizations. An inhabitant of Johannesburg, Steinhoff was administrator of the organization until September 2008 yet at the same time fills in as the non-official chief. In late 2014 Steinhoff International reported it was paying $5.7 billion for 92% of markdown South African retailer Pepkor; the arrangement shut in mid 2015. In 2016, it procured Mattress Firm, the biggest sleeping cushion retailer in the U.S., for $3.8 billion.

7. Atul Gupta – R10.69 billion

The Gupta family is an Indian-South African business family whose most notable members are the brothers Ajay, Atul, Rajesh “Tony” Gupta as well as Atul Gupta’s nephew Varun Gupta. They are controversial for their close relationship with South African president Jacob Zuma. The Gupta family owns a business empire spanning computer equipment, media and mining. In 2016 Atul Gupta became the 7th wealthiest person in South Africa with an estimated net worth of R10.7 billion (US$773.47 million), based on JSE-listed holdings. The family migrated from the Indian state of Uttar Pradesh to South Africa in 1993, shortly before the country’s first democratic elections, to establish Sahara Computers.

8. Johann Rupert & Family – R10.61 billion

He dropped out of the university to pursue a career in business, however, in 2004, the university awarded him an honorary doctorate in Economics. In 2008, he was awarded an honorary doctorate in Commerce from Nelson Mandela Metropolitan University. Described as “reclusive” by the Financial Times and Barron’s, Rupert rarely gives interviews and shuns public events.

9. Jannie Mouton – R9.7 billion


Known as “Buddha Buffett,” Mouton is the author and administrator of PSG Group, a recorded venture holding firm.

PSG has premiums in monetary administrations, keeping money, private value, farming and instruction.

Both of his children serve on PSG Group’s board, and his child Piet Mouton is the CEO.

The 2011 book, “And afterward They Fired Me,” subtle elements how Mouton began PSG Group in the wake of getting terminated at age 48.

He had been let go by his kindred accomplices at stockbroking firm Senekal, Mouton and Kitshoff, which he helped to establish.

10. Koos Bekker – R9.63 billion

 Jacobus Petrus “Koos” Bekker (born 14 December 1952) is chairman of leading emerging markets media group Naspers. The company operates in 130 countries and is listed on the London and Johannesburg Stock Exchanges, and has the largest market capitalization of any media company outside the US and China

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