Land of the rich: 2 South African cities that the richest in the world call home news South Africa
- 2 South African cities have been ranked among the richest in the world
- Johannesburg and Cape Town are home to the richest in Africa, says New World Health
- Both regions have an estimated net worth of $ 130 billion or more
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Johannesburg and Cape Town are among the richest cities in Africa. This is according to a study published by New World Wealth.
The report focuses on wealthy individuals rather than a country’s overall GDP. It includes all of an individual’s assets – including property, cash, stocks, business interests – minus liabilities, Enterprise technology reports.
Johannesburg has turned out to be Africa’s richest city, with the city’s total wealth now estimated at $ 235 billion. Significant wealth is generated in the city through reputable banks and professional services such as law firms.
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In contrast, real estate and fund management fuel the wealth of Cape Town.
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“The total wealth held in the city stands at $ 130 billion[189billionderands]. It is home to Africa’s most exclusive suburbs including Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bishopscourt and Constantia, âthe report says. [R189-trillion)It’shometoAfricaâsmostexclusivesuburbsincludingCliftonBantryBayFresnayeLlandudnoCampsBayBishopscourtandConstantia”thereportstates
The report also noted that the city is home to a number of upscale lifestyle areas, including Steenberg, Silverhurst Estate and Atlantic Beach, Live reports.
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In related news, Brief News previously reported that South Africa could be a developing country, but there is no shortage of super rich people. A handful of people in Mzansi are so rich they are dollar billionaires.
Brief News decided to take a look at the five richest people in South Africa.
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Topping the list are Nicky Oppenheimer and his family.
According to Statista data, Oppenheimer is worth $ 8 billion, which is estimated at R113.6 billion.
Oppenheimer made his billions from the diamond trade.
The richest man in SA began his career with the Anglo American mining company in 1968. He was promoted to director in 1974, before becoming vice president in 1983. His grandfather, Harry Oppenheimer, was the founder of ‘Anglo American. Oppenheimer’s grandfather was the first generation to chair diamond mining company De Beers before also becoming president with its subsidiary Diamond Trading Company.
He resigned from Anglo American in 2001, but continued to act as a non-executive director until 2011.
Oppenheimer was the chairman of De Beers Consolidated Mines Limited before resigning in 2012.
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Johann Rupert is the second richest person in South Africa with a net worth of $ 7.1 billion (Rand 100.8 billion). Rupert has reached the 385th position on the Forbes list of billionaires for 2021.
Financial experts have revealed that Rupert’s fortune has swelled since the start of the pandemic last year, from around $ 4.6 billion to $ 7.1 billion. Statistics from Forbes revealed that Rupert is the fourth richest person in Africa.
Rupert is the president of Rich Goods, located in Switzerland. He also served in the same capacity at a South African company known as Remgro.
He began his business journey in New York City after completing an apprenticeship at Chase Manhattan. He stayed there for two years before moving to Lizard Feres where he stayed for three years. He returned to South Africa in 1976 to found the Rand Merchant Bank, where he served as CEO.
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It was that same year that the same man formed a company called the Small Business Development Corporation which has been responsible for providing over 600,000 jobs so far.
Rupert is arguably one of the country’s most controversial billionaires and he often finds himself a hot topic on social media.
In March 2021, Twitter exploded with backlash after Rupert allegedly gave President Cyril Ramaphosa an ultimatum on Ace Magashule.
Brief News at the time, Rupert reportedly threatened to withdraw his support unless Ramaphosa acted against Magashule and social media users were unimpressed.
EFF chief Julius Malema sharply criticized the incumbent president, saying he had been compromised by the Rupert family, Johann Rupert in particular. interview with SABC News to celebrate the party’s 8th anniversary, Malema issued stern warnings to Ramaphosa about his relationship with the billionaire.
Patrice Motsepe may well be SA’s most beloved billionaire. In June 2022, Motsepe would be worth 41 billion rand ($ 2.9 billion).
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He made most of his wealth through the mining industry. In 1997, gold prices bottomed out and this enabled Motsepe to purchase six gold mine shafts from AngloGold for $ 7.7 million.
As part of the deal, he was able to pay off the mines with the money his company, now called African Rainbow Minerals, earned. African Rainbow Minerals was the first black owned mining company in South Africa.
Even though he leads a life of low-key luxury with his wife, Motsepe also uses his wealth to do good.
In March 2020, Motsepe donated R 1 billion to Covid19 relief efforts. The billionaire announced that he would help finance the fight against the coronavirus pandemic in South Africa.
In a briefing on the current situation, Motsepe said it was a difficult time for the country, but with SA’s history coming together in these difficult times, there is hope. .
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The billionaire said the coronavirus was very serious and praised the state for the efforts it has made to fight the pandemic. However, he believes that more serious measures must be implemented. It is understood that the funds will be used to purchase soap, sanitizer, water and other essentials needed during the lockdown period.
He is also a sports fan and Motsepe’s wealth has enabled him to own a football team, the Mamelodi Sundowns.
He also bought shares of the Bulls rugby team alongside billionaire Johann Rupert.
In 2018, Motsepe paid R45 million to bring the FC Barcelona team to South Africa.
Koos Bekker is there with Patrice Motsepe with a net worth of $ 2.9 billion (Rand 41 billion.)
Bekker is best known for his revered role as chairman of Naspers Media Group. The billionaire crossed borders and managed to build one of the most influential market caps outside of China and the United States.
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Bekker was one of the founding directors of MTN Mobile Communication Company in the early 1990s. He then became CEO of Naspers in 1997. The company was at the time a major investor in the M-Net / Multichoice group. .
Michiel le Roux
Michiel le Roux is the founder of one of Mzansi’s most popular banks, Capitec.
After getting his LLB and deciding the law was not for him, Michiel landed a job with Distillers Corp. He worked as a general manager until the mid-90s.
He then worked for Boland Bank Ltd for several years. In 2001, Michiel founded the Capitec bank. He was chairman of the bank’s board from 2007 to 2016, and still sits on the board.
Today, Michiel only holds an 11% stake in Capitec. However, his success saw him grow to be a very wealthy man. He is one of South Africa’s dollar billionaires. According to Forbes, Michiel is worth $ 1.4 billion, or roughly 19.89 billion rand at the current exchange rate.