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richest executives in South Africa

The City Press Wealth Index, compiled by Who Owns Whom, is a list reflecting the 50 wealthiest South African directors of JSE-listed companies according to the shares they owned at the end of March. Importantly, no other assets, such as shares, bonds, and debt, are taken into consideration in this ranking. Altogether, the 50 executives on this list are worth a cumulative R323 billion!

 

Here are the top 15 JSE-listed executives in South Africa:

Name

Age

Company

Worth

Ivan Glasenberg

61

Glencore

R71.8 billion

Christo Wiese

76

Shoprite, Brait, Steinhoff and Tradehold

R32.8 billion

Patrice Motsepe

56

African Rainbow Minerals and Sanlam

R22.8 billion

Laurie Dippenaar

69

FirstRand

R15.8 billion

Ivan Saltzman

68

Dischem

 R15.6 billion

 

Stephen Saad

54

Aspen

R14.4 billion

Koos Bekker

65

Naspers

R13.6 billion

Johann Rupert

68

Reinet, Remgro and Richemont

R13.2 billion

John Whittaker

76

Intu Properties

R12.9 billion

Michiel le Roux

69

Capitec

R11.6 billion

Desmond Sacco

77

Assore

R9.8 billion

Jannie Mouton

72

PSG

R9.3 billion

Adrian Gore

54

Discovery

R8.5 billion

Giovanni Ravazzotti

75

Italtile

R5.2 billion

Gus Attridge

57

Aspen

R4.9 billion

 

Reflections on the Wealth Index:

The list speaks highly of the current wealth gap in South Africa. Of the top 50, only 5 executives are black. A decade ago, there were 13 black executives on the list.

Coming in at the 40th spot, Sygnia chief executive Magda Wierzycka is the only woman to make the list.

The average age of the top 50 execs is 61.

The assets underpinning the top 50’s fortunes have shifted decisively away from mining with the spectacular rise of financial services companies and the appearance in South Africa of frequently speculative property investment vehicles, real estate investment trusts, pioneered in the US. While Wendy Appelbaum is estimated to be the richest woman in South Africa, she is not on the list because she has no current JSE-directorship.

What do you think? Let us know in the comments below!


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