South Africa's richest men: How 7 tycoons built their fortunes
In South Africa, a select group of businessmen has proven this adage true, using generational wealth, bold decisions, and smart investing to amass fortunes that stretch into the billions.
From mining and media to finance and fashion, these seven South African billionaires have built and grown empires that span industries and continents.
Collectively, they hold an astonishing $36.9 billion (R659 billion) in wealth, according to Forbes' real-time billionaire list.
South Africa's wealthiest individuals highlight the power of compound wealth, strategic investing, and often, privileged starting points.
While some leveraged family businesses, others capitalised on market shifts and global opportunities to build their empires.
Though controversial to some, their financial influence is undeniable – not just in South Africa, but on the global stage.
As the saying goes, 'the rich get richer.' And in this case, they're doing so with style, strategy, and staggering numbers.
Meanwhile, in terms of the overall world list, South Africa-born Elon Musk remains the world's richest person with a reported $410.3 billion.
Below, the list of the top seven richest South Africans in the world as of 28 July 2025. Rank Name Last week This week Source 197 Johann Rupert & family $14.5bn $13.5bn Luxury goods 279 Nicky Oppenheimer & family $10.5bn $10.4bn Diamonds 1 034 Koos Bekker $3.6bn $3.7bn Media, investments 1 166 Patrice Motsepe $3.3bn $3.4bn Mining 1 528 Michiel Le Roux $2.6bn $2.5bn Banking 2 052 Jannie Mouton & family $1.8bn $1.8bn Retail 2 207 Christo Wiese $1.7bn $1.6bn Financial services TOTAL $38bn $36.9bn
Net Worth: $13.5 billion
Industry: Luxury Goods, Finance
At the top of the list is Johann Rupert, chair of Compagnie Financière Richemont, the Swiss luxury goods group behind brands like Cartier, Montblanc, and Dunhill. With significant holdings in financial services and investments, Rupert has masterfully expanded his wealth while maintaining a relatively low public profile.
Net Worth: $10.4 billion
Industry: Diamonds, Investment
The former chairman of De Beers, Nicky Oppenheimer sold the family's 40% stake in the diamond giant to Anglo American for $5.1 billion in 2012. Since then, he has grown his fortune through private equity investments and conservation initiatives across Africa.
Net Worth: $3.7 billion
Industry: Media, Technology
Known for turning Naspers into a global tech giant, Koos Bekker made headlines by investing early in China's Tencent. That decision alone brought in tens of billions for Naspers. Bekker's strategic leadership transformed the company from a local media firm into a global player.
Net Worth: $3.4 billion
Industry: Mining, Finance
Patrice Motsepe made his fortune through African Rainbow Minerals, becoming South Africa's first black billionaire. A key figure in Black Economic Empowerment, he also holds a stake in financial services firm Sanlam and is a noted philanthropist and investor in sports.
Net Worth: $2.5 billion
Industry: Banking
Founder of Capitec Bank, Michiel Le Roux revolutionised South Africa's banking landscape by creating a low-cost, accessible banking model. The bank's growth and profitability have made it a darling on the JSE and a consistent driver of Le Roux's wealth.
Net Worth: $1.8 billion
Industry: Investments
The founder of PSG Group, Jannie Mouton earned the nickname 'Boere Buffett' for his savvy investment strategy. PSG has stakes in Capitec, Curro (education), and various agricultural and financial firms, making Mouton a quiet force in South African business.
Net Worth: $1.6 billion
Industry: Retail
Despite setbacks with the collapse of Steinhoff, Christo Wiese remains a retail titan with interests in Shoprite and other ventures. Once South Africa's richest man, Wiese is rebuilding and diversifying his portfolio.
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
29 minutes ago
- IOL News
A call to action: Portfolio committee can address accountability in South African football
One of the primary challenges facing the game lies within the South African Football Association (SAFA), which has been notably reluctant to take responsibility for the ongoing turmoil. This lack of accountability has not only stalled reform initiatives but has also contributed to a climate of distrust among stakeholders, particularly the corporate sector. The Portfolio Committee on Sport, Arts and Culture holds a critical key to unlocking the transformation needed in this beloved sport, provided its members engage thoroughly with the issues at hand and make informed decisions. While the potential for greatness exists within the country's talent and passionate supporters, deep-seated issues continue to hinder progress. As the appointed overseers of the Department of Sport, Arts and Culture, they are tasked with holding vital discussions on budget allocations, policy scrutiny, and performance evaluations, aiming to ensure that the department meets its mandate effectively and is held accountable for its actions. The Portfolio Committee on Sport, Arts and Culture can play a crucial role in revitalising South African football, and it must not be overlooked. To effect meaningful change, members of the Portfolio Committee must undertake diligent research on the myriad of issues plaguing South African football. They have the opportunity to engage with stakeholders from various levels to create a holistic understanding of the problems faced by the sport. This comprehensive engagement is vital; informed commentary and relevant questions can guide discussions in a direction that fosters responsibility and improvement. Their engagement must not merely scratch the surface. There is an urgent need to dissect the intricacies of governance structures within SAFA, demand transparency in operations, and call for a strategy that reinvigorates the passion of South African fans. Engagement must extend into addressing youth development, grassroots initiatives, and infrastructural support – elements that will secure the future of football in South Africa. Significantly, it's the corporate world's participation that could rejuvenate the sport financially and operationally. However, sponsors and investors are unlikely to commit funds so long as there is a perception of inefficiency and a lack of accountability within SAFA. A revitalised football association, one that embraces reform and responsibility, would pave the way for constructive partnerships that could elevate South African football to new heights. The Portfolio Committee can play a transformative role, provided it approaches its mandate with the seriousness and diligence it deserves. A recent parliamentary session raised a host of concerns surrounding SAFA's choices and salaries in coaching appointments across national teams. The South African Football Association (SAFA) finds itself navigating turbulent waters, facing heightened scrutiny over its financial constraints and coaching appointments amid a recent parliamentary session. Issues surrounding operational efficacy and personnel decisions are at the forefront of discussions, particularly concerning coaching roles across national teams. On several occasions, SAFA proudly announced that all coaching positions for the national female teams have been filled exclusively by South African women. SAFA President Danny Jordaan said parliament was highly pleased by this, asserting that the decisions reflect a commitment to empowering local talent. It would seem that the committee was rubber-stamping SAFA's act of prioritising nationality over coaching pedigree, and that undermined the potential for optimal performance. The coaches of female national teams are there firstly because they are women. This focus on gender may undermine teams' competitive edge. As SAFA continues to address its financial pressures, the path forward will undoubtedly require vigilance and a fine-tuned strategy that prioritises both inclusivity and high standards of coaching capability. The committee members should have asked whether these appointments are truly merit-based. Proponents of meritocracy contend that an ideal coaching situation requires a careful balance of nationality and qualifications to ensure optimal performance on the international stage. The fear among various stakeholders is that female coaches are being appointed primarily for their gender rather than their coaching acumen.
The Citizen
29 minutes ago
- The Citizen
Employed South Africans working hard for financial freedom
South Africans are known for their resilience which is confirmed by a survey that shows they still work hard for their financial freedom. Employed South Africans are working hard for their financial freedom according to a new survey that shows their resilience and renewed sense of optimism despite the persistent pressures of a challenging economic climate. According to the 2025 Old Mutual Savings & Investment Monitor (OMSIM), many consumers are not only hopeful about the future but are also taking deliberate steps to improve their financial wellbeing. The OMSIM is an annual study that tracks the financial attitudes, behaviours and priorities of working South Africans earning a minimum of R8 000 per month. It serves as a barometer for the country's financial health, capturing the lived experiences and evolving behaviours of the middle-income market. The 2025 findings tell a story of adaptation, resourcefulness and a steady shift from crisis management to more forward-looking financial behaviour. ALSO READ: South Africans experiencing less financial stress, but still under pressure — survey Finances still difficult for working South Africans despite progress Vuyokazi Mabude, head of knowledge and insights at Old Mutual, says this year's report is a reflection of a turning point. 'The results show that while life is still difficult for many people, working South Africans are making tangible progress. 'There is a notable increase in income, confidence and an entrepreneurial spirit, particularly among the youth. People are taking control of their finances, seeking out additional income sources, managing their debt more intentionally and placing greater importance on saving,' she says. One of the standout findings is the marked improvement in financial sentiment, Mabude points out. A remarkable 75% of respondents believe their personal financial situation will improve in the next six months, the highest recorded since the Covid-19 pandemic in 2020. 'This level of optimism is most pronounced among the Gen Z market, with 89% anticipating improvement in their finances. Confidence in South Africa's economic direction is also improving, although consumers are still cautious. 'The number of people who expressed confidence in the economy has grown to 42%, building on the slow but consistent recovery seen since 2023.' ALSO READ: Survey shows how economic distress erodes South Africans' savings culture Income of working South Africans improving as well She says alongside improving sentiment, income growth is becoming more evident, where 44% of respondents reported earning more than they did a year ago, with income increases especially common among the youth (55%) and those in higher income brackets (57%). It is clear from the survey that South Africans are not simply working one job anymore, with 'poly-jobbing' the new normal now. The report shows that side hustling and entrepreneurship have become deeply embedded in the financial lives of working South Africans. The number of 'poly-jobbers', who earn income from multiple sources, remains high at 57%, rising to 75% among the youth between the ages of 18 and 29. In fact, Mabude says, the report shows that almost half of working South Africans (48%) now own or part-own a business. 'This entrepreneurial spirit is not just a trend. It is proving to be a vital coping mechanism and a source of financial empowerment. People are using their skills and passions to diversify their income streams, often out of necessity, but increasingly also as a means to build wealth.' ALSO READ: Tips on how to build your savings and become financially resilient Working South Africans struggle with debt and gambling However, with all the good news there is bound to be bad news. South Africans are struggling with debt and gambling. Debt continues to feature prominently in household financial management, but it is encouraging that 57% of respondents say they reduced their debt compared to a year ago. A growing number (32%) proactively engaged with creditors to renegotiate repayment terms. However, there are areas of concern, Mabude says, pointing out that 52% of working South Africans reported that they gamble, with 40% admitting they do so in hope of covering expenses or repaying debt. 'This trend suggests that while some are making proactive choices, others remain vulnerable and are turning to risky behaviour to bridge financial gaps.' The report also shows some lag when it comes to long-term savings. Although South Africans continue to show strong short-term saving habits with an average of 22% of household income being allocated to savings, retirement planning remains on the downside. While 96% agree that saving for retirement is important, only 28% made it a top priority. 'It is also encouraging to note that fewer people are prematurely accessing investments or retirement funds, while informal savings vehicles, such as stokvels remain popular and trusted,' Mabude says. ALSO READ: Only 8% of women are confident about retirement – are you one of them? Optimism for the future She says the report tells a story of progress, empowerment and possibility. 'While challenges remain, mainly due to the cost of living, OMSIM 2025 shows a trajectory of optimism looking into the future. 'The report shows that South Africans are not passively waiting for change, but instead are actively creating it by embracing entrepreneurship, making smarter money decisions and seeking out alternative ways to achieve some level of financial freedom. 'Every year, OMSIM gives us deep insight into how people are coping and adapting when it comes to their finances. This year, more than ever, we see an encouraging collective step forward,' Mabude says.
The South African
an hour ago
- The South African
AGENCY quietly increases 2025 SASSA asset and means limits
2025 SASSA asset and means limits all depend on the grant you're applying for. The agency's 'core' grants, like Older Person, Disability and War Veterans tend to be the highest. While other social welfares, like Childcare and SRD, only have a means test and no asset portion. Interestingly, an increase to nearly all 2025 SASSA asset and means limits this year has gone by largely undetected. This new eligibility criteria came into being back in April 2025, at the same time above-inflation increases were initiated for 'core' SASSA grants. It's now that bit harder to qualify for a SASSA grant in South Africa. Image: File Nevertheless, what are the South African Social Security Agency's new 2025 SASSA asset and means limits? Below, we will list all the eligibility requirements at the beginning of the year versus what they are today, starting with Old-Age Grants in August 2025: GRANT INCOME BEFORE INCOME NOW Older Person, Disability and War Veterans R101 640 (single) R107 800 (single) R203 380 (married) R215 760 (married) Child Support R63 600 (single) R67 200 (single) R127 200 (married) R134 300 (married) Child Care Dependency (Disability for u/18s) R261 800 (household) R277 200 (household) Social Relief of Distress (SRD) R624 unchanged *figures are annually, so divide by 12 for a per-month figure * figures represent a 17% increase, which is way above inflation in 2024/2025 A new fourth payment date (typically the first Friday of the month) means those under grant review don't have to wait too long for payment. Image: File Since May 2025, the agency has been tightening its income verification processes. As The South African reported previously, SASSA now cross-references your income with several third-party sources. So, even if you've been getting away with extra income before, you should be careful if you don't declare so to the agency now. If you are one of the quarter of a million SASSA grant recipients who has had their monthly stipend halted, this is how you can rectify the situation: Report in-person to your nearest SASSA branch. Bring along a recent bank statement. Valid work payslip. Copy your ID (plus your child's ID if applicable). Supply your proof of residence (no older than three months). If you have indeed overstepped the 2025 SASSA asset and means limits, you will have three options open to you. You may either pay the money back in full, arrange a debit order that goes off each month from your bank account. Or the agency can setup a payment system for you. However, this will accrue interest and end up costing you more in the long run. Graphic: SASSA Older Person – Tuesday 5 August 2025 Disability & War Veterans – Wednesday 6 August 2025 Childcare – Thursday 8 August 2025 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
