Ivan Glasenberg. File Image
Ivan Glasenberg. File Image

SA's top 50 richest people are worth R323 billion

By Staff Reporter Time of article published Aug 1, 2018

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DURBAN - South Africa's top 50 richest people are worth a combined R323 billion according to the City Press Wealth Index. 

The inaugural index from the City Press was compiled from company documents, announcemen ts and share registers that were published between and 2006 to 2018 as well as from the disclosed remuneration of directors of JSE-listed companies for the 2017 financial year, including bonuses and severance packages. 

The collective worth of the top 50 is around the same as the 2017 GDP of Mozambique and Namibia put together. 

The index has revealed that former Steinhoff executives Markus Jooste and Andries la Grange were some of the best-paid executives. 

Jooste had salaries and bonuses that totalled R202 million while la Grange made R105,18 million. 

Magda Wierzycka, the chief executive of Sygnia was the only the female that featured on the male-dominated index. With the average age on the index is 61. 

So who is the richest of the rich in South Africa? 

Ivan Glasenberg took the top spot on the index followed by Christo Wiese who maintained his position even after the fallout of Steinhoff. 

Glasenberg takes the number one spot because of his 8,3% stake in Glencore. In June his Glencore shares fell from R84 billion to R66 billion. 

Below is a look at the top five executives according to the City Press Wealth Index:

Rank Name Company Total value of
Net Worth
1. Ivan Glasenberg Glencore R71,76 million $5,7 billion
2. Christo Wiese Shoprite Holdings, Brait,
Invicta Holdings and Pallinghurst
R32,78 million $1,1 billion
3. Patrice Motsepe African Rainbow Minerals and
R22,75 million $2 billion
4. Laurie Dippenaar First Rand, RMB Investment Holdings
and RMB Holdings.
R15, 78 million $650 million
5. Ivan Saltzman Dischem Pharmacies R15,62 million -

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