Money. Geld. Chelete. Nyuku. Zaka. Cold drink. Goes by many names – we all want it, work hard for it, some even gamble for it. But who are the real money makers in South Africa? The people who can purchase Lamborghinis on a whim or order bespoke gold plated analog watches for their opulent homes? Individuals whose money many of us can only dream about? Let’s take an exploratory journey into the pockets of Mzansi’s top 5 billionaires.
A prominent store on the South African landscape, Shoprite is very distinct in its color choices and is a favorite for its affordable prices. Have you ever wondered in whose pockets your money goes when you purchase your groceries at Shoprite? Enter Christo Wiese. He does not make our list of top 5 billionaires in Mzansi, but with a net worth of $1.1 billion, he is a very important man.
- Elon Musk – Net worth $165.5 billion
Mr. Musk was born in Pretoria in 1971. He immigrated to Canada at 17 years old and from there transferred to the University of Pennsylvania. How did he make his money? Well, Mr. Musk was the co-founder of the online payment system, Paypal. He is the founder, CEO, and lead designer of SpaceX, co-founder of Tesla Inc, co-founder and CEO of Neuralink, and the founder of The Boring Company.
- Nicky Oppenheimer – Net worth $8 billion
Mr. Oppenheimer was born in South Africa in 1945. He is not a self-made billionaire, he inherited his family fortune and sold a 40% stake in diamond firm DeBeers to mining group Anglo American for $5.1 billion. Mr. Oppenheimer owns a 1% stake in Anglo American.
- Johann Rupert – Net worth $7.5 billion
Mr. Rupert was born in Stellenbosch in 1950. He dropped out of University but was later awarded an honorary doctorate in Economics by the same University. After leaving university, he went to New York where he did his business apprenticeship and after several years returned to South Africa. On his return, Mr Rupert founded his own company, Rand Merchant Bank where he served as CEO. He is the Chairman of Compagnie Financiere Richemont, a Swiss luxury goods firm.
- Patrick Soon-Shiong – Net worth $7 billion
Mr. Shiong was born in 1952 in Port Elizabeth where his Japanese parents immigrated during the Japanese occupation. He earned his fortunes in Pharmaceuticals after he invented a very effective pancreatic cancer drug, Abraxane. He later sold it to drug companies Abraxis and American Pharmaceutical Partners, both for $9.1 billion. He also owns NantHealth and NantWorks, a network of health startups. Shiong also owns the Los Angeles Times and the San Diego Tribune, he bought both for $500 million.
- Jacobus Petrus “Koos” Bekke – Net worth $2,4 billion
Koos was born in 1952 in Potchefstroom. He is the chairman of the media group Naspers. The company operates in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange. It has the largest market capitalization of any media company outside the U.S., China and India. Koos is revered for transforming South African newspaper publisher Naspers into an e-commerce investor and cable TV powerhouse. He led Naspers to invest in Chinese Internet and media firm Tencent in 2001 – by far the most profitable of the bets he made on companies elsewhere. In 2019, Naspers put some assets into two publicly-traded companies, entertainment firm MultiChoice Group and Prosus, which contains the Tencent stake.
While you and I may cringe at the frequent price increases, the gentlemen mentioned above hardly feel the pinch of the economy at the rate that we do. Mzansi is a land rich with opportunities, where the wealthy have thrived at admirable rates. What can we do to *maybe* feel a semblance of what they do? Possibly dare to shop without looking too hard at prices. Dare to get to the till without a predetermined calculation. Wing it like these guys here.