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26 Of The Richest People in South Africa
In a world with growing entrepreneurship success stories, victory is often measured in terms of money. The feat of achieving a place on this list is, however, years of hard work, determination and persistence.
From the individuals that made the 27 of the richest people in South Africa list, actual entrepreneurs and self-made business people dominate the list; while those who inherited their fortunes have gone on to do even bigger and better things with their wealth.
Over the years, some have slipped off the list, while others continue to climb higher and higher each year. She walked away from the sale with R1 billion. Wapnick is one of the top 5 shareholders in each company, and her shares are estimated to be worth R million, according to Forbes. In October , she became the non-executive chairman of Octodec, taking over from her father. Wapnick is also a partner at TWB Attorneys, a prominent commercial law firm.
Bridgette Radebe is the first black female South African deep-level-hard rock mining entrepreneur. She has more than a decade of experience in contract mining, mining construction, and mergers and acquisitions. She went on to found Mmakau mining, which is a significantly successful mining operation with assets including platinum, gold, uranium, coal and chrome.
Irene Charnley is a former trade unionist who made her first mark as a shrewd negotiator for the National Union of Mineworkers. Wendy Ackerman started out as a teacher at the English Academy in Soweto, where she taught night school. Harris was the chief executive of the FirstRand group from to Additionally, he recently started lecturing on business at Stellenbosch University.
Wendy Appelbaum inherited a large portion of her fortune from her father SA billionaire Donald Gordon. Appelbaum was a director at Liberty Investors, the previously listed holding company of the Liberty Group, which is the insurance and real estate concern her father founded, says Forbes. She sold off her stake in the company, becoming cash-rich. At the age of 22, Mark Shuttleworth founded Thawte, a digital certificate and Internet security company.
He founded HBD Capital, an emerging markets investment fund. HBD has made a series of successful exits including Fundamo, a mobile financial services company which was acquired by Visa for USD million in ; and csense, which was acquired by GE Intelligent Platforms.
But, Shuttleworth is probably most famous for founding Ubuntu, a computer operating system that distributed as free open source software. He is also founder of the Shuttleworth Foundation, which funds social entrepreneurs and multiplies their money by a factor of ten or more.
Desmond Sacco, chairman and managing director of Assore Group, experienced a halving of his net worth in because of the drop of price in iron ore, according to Forbes. Giovanni Ravazzotti, an immigrant to Johannesburg from Italy, saw a gap in the market in for affordable tiles and ceramic products in an increasingly urban South Africa. He began importing and retailing them through a company he founded, Italtile. Ten years later, with the first hints that there would be trade sanctions against South Africa, he pivoted his business and began manufacturing ceramic tiles domestically.
In , his retail company Italtile and manufacturer Ceramic Industries were listed on the Johannesburg Stock Exchange. According to Forbes, Jooste joined Steinhoff in after engineering the sale of a South African retail chain to Steinhoff's German owners. Aspen now manufactures drugs in factories around the world, including in Australia, Brazil, Mexico, Germany, South Africa and Tanzania.
Gerrit Thomas Ferreira co-founded of one of the largest financial services groups in South Africa. After a series of successful mergers and acquisitions, FirstRand was formed in the The business now has operations across South Africa and India. Ferreira is still a non-executive chairman. Adrian Gore is founder and CEO of Discovery Holdings, which provides health insurance for more than companies and close to two million people.
In , Adrian Gore raised seed funding from Laurie Dippenaar to found the medical insurer after years of working with Liberty Life. He used his severance pay to acquire four retail outlets that were trading as Pick n Pay. Ackerman stepped down as Executive Chairman in , handing over the reins to his son, Gareth. He continues to be a dedicated philanthropist through the Ackerman Family Educational Trust; he supports about 60 students through university.
Today, his bank has expanded to branches, 6. While working for Boland Bank, Le Roux already started to shake things up. Lauritz Dippenaar is a qualified chartered accountant who built a financial services empire over the last few decades. PSG has interests in financial services, banking, private equity, agriculture and education, according to Forbes. Aspen markets generic medicines in 10 countries. In , he became the chairman of The Sharks rugby team. Motsepe also has a stake in Sanlam, and is the president and owner of the Mamelodi Sundowns Football Club.
He was the first black partner at law firm Bowman Gilfillan, and then started a contracting business doing mine scut work. Forbes says that in , he bought low-producing gold mine shafts and turned them profitable.
In , Gray announced that he will eventually donate the bulk of his wealth to charity. Koos Bekker is revered as an astute executive who transformed newspaper publisher Naspers into a digital media powerhouse, says Forbes.
He was compensated for his work with stock option grants that vested over time. Ivan Glasenberg holds the largest private stake in Glencore 8. He got his professional start with the legendary oil trader Marc Rich, working as a marketer.
By the time, management bought it out and re-branded it as Glencore in , Glasenberg had risen to the post of worldwide director. Christoffel Wiese built a retail empire by capitalising on bargain prices, and has expanded its geographic footprint. This firm is best known for brands including Cartier and Montblanc. Nicky Oppenheimer, arguably the world's most successful diamond purveyor, inherited his fortune from his grandfather who founded Anglo American.
Here are 26 of South Africa's richest people, but how did they achieve this level of wealth? Find out here. Next Article -- shares Add to Queue. Image credit: Bigstock. Nicole Crampton. Entrepreneur Staff. March 12, 14 min read.
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Rich South African Men Interested in Friendship
In a world with growing entrepreneurship success stories, victory is often measured in terms of money. The feat of achieving a place on this list is, however, years of hard work, determination and persistence. From the individuals that made the 27 of the richest people in South Africa list, actual entrepreneurs and self-made business people dominate the list; while those who inherited their fortunes have gone on to do even bigger and better things with their wealth. Over the years, some have slipped off the list, while others continue to climb higher and higher each year. She walked away from the sale with R1 billion.
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