Five ultra-rich black South Africans

Patrice Motsepe
Patrice Tlhopane Motsepe is a South African mining magnate. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. Motsepe’s net worth is put at $1.1 billion (R18 billion) ranking him 847th in the world, and 22nd in Africa in 2015. However, Forbes reported earlier this month that since its last report, a mere two months ago, Motsepe has seen his fortune slip by as much as $200 million because of a softer currency and falling stock prices.

Cyril Ramaphosa
Ramaphosa has stepped back from his business pursuits since being appointed deputy president of South Africa in May 2014. He stepped down as chairman of investment firm Shanduka Group in May 2015 and a year later completed the process of selling his 30% stake in the company. Forbes puts his fortune at $450 million (R7.4 billion) – 42nd richest in Africa.

Tokyo Sexwale
Tokyo Sexwale is one of five candidates put forward to be the new FIFA president. Sexwale has a rich political background, having spent many years on Robben Island, alongside the late Nelson Mandela, during apartheid. Upon his release, he worked his way up to a position where he campaigned for a leadership position within the ANC. The once Gauteng premier was appointed by President Jacob Zuma as Minister of Human Settlements in 2009. Upon leaving the public sector, Sexwale founded Mvelaphanda Holdings – a company of which he is still executive chairman. In 2009, Sexwale declared his wealth to be approximately $2 billion rand His net worth is put at $200 million (R3.27 billion). In 2013, it was reported that Sexwale had bought his own personal tropical island in the Indian Ocean for $70 million.

Sipho Nkosi
Sipho Nkosi is the CEO of Exxaro Resources, a diversified group with interests in the coal, titanium dioxide, ferrous and energy markets. Nkosi is set to retire as CEO in March after seven years on the job – having joined Exxaro in November 2007, one year after the company listed on the JSE. Exxaro’s share price has taken a beating in recent years, and particularly in 2015, along with other resource stocks. However, its share price was up nearly 6% in trade on Wednesday (27 January) to R53.77, having hit a low of R37.69 in 2015 – and from R29 in 2007. In 2014, Nkosi was paid a salary of R16.84 million by the company, including R5.5 million in gains on management share schemes. The Sunday Times rich list, published in late 2015, stated that Nkosi’s holding in Exxaro Resources was 2.7%. The company has a market cap of R19.26 billion. His net worth is put at around R2.7 billion.

Phuthuma Nhleko
A former CEO at Africa’s largest mobile operator MTN, Phuthuma Nhleko was re-appointed as executive chairman of the company late last year to deal with a multi-billion dollar fine issued by the Nigerian government. Nhleko has a 2.49% holding in MTN’s broad-based black economic empowerment scheme, MTN Zakhele, which made its debut on the JSE in November 2015. Nhleko is the chairman and co-founder of the Pembani Group, which recently merged with Shanduka Group which has stakes in 29 businesses, creating a business with a portfolio value in excess of R9 billion. According to reports, Nhleko has assets amounting to R1.74 billion.

The above still have a way to catch up with Africa’s richest black capitalist. Nigerian cement mogul Aliko Dangote has a net worth of $14.3 billion, according to Wealth-X, as reported by Business Insider.

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