Do you ever stop to think about what our leaders mean to us? Well, it’s true that some politicians have amassed considerable wealth through entrepreneurial endeavours and wise financial decisions.
Most politicians have made it to the top of their parties thanks to their wits and financial backing.
We’d all like to think that no one gets into politics for the money. Despite this, many of the country’s politicians have amassed huge fortunes for themselves.
While many politicians enjoy substantial salaries and privileges as a result of their public service, the majority of them become wealthy through other means.
Despite the fact that the majority of these politicians have long since departed parliament, some of them are still active and retain crucial positions in government. The ten wealthiest politicians in the country are detailed here, along with the means through which they became so wealthy.
10. Thabo Mbeki─ R150 million
Age: 79 years old
Source: Politics
Ex-president Mbeki has the highest personal wealth on the list, at $10 million.
The 79-year-old is one of the best political leaders to guide South Africa after apartheid. Mbeki, in contrast to the vast majority of his fellow politicians on this list, amassed his fortune mostly through political rather than commercial endeavours.
9. Jacob Zuma─ R300 million
Age: 79 years
Source: Politics & Investments
South Africa’s fourth president, Jacob Zuma (commonly known as JZ or by his clan name, Msholozi), served as head of state from 2009 to 2018.
His political career and investments are expected to contribute heavily to his projected $20 million net worth as of the year 2021.
8. Saki Macozoma─ R795 million
Age: 64 years
Source: Business
Macozoma, a former South African political prisoner, was imprisoned on Robben Island for five years with Nelson Mandela.
The 64-year-old man left politics to focus solely on his business. It was a smart move, considering his $53 million fortune.
7. Mike Teke─ R960 million
Age: 56 years
Source: Minning
Teke, a South African, is one of the industry’s most sophisticated and well-informed chief executive officers. He is the head of the Masimong group and a major stakeholder, and he also serves on the board of the University of Johannesburg.
He has a remarkable resume in the coal business, having served as president of both Ric
hards Bay Coal Terminal (RBCT) and the Chamber of Mines.
6. Vincent Mntambo─ R1.13 billion
Age: 62 years
Source: Business
Mntambo entered politics at a relatively early age.
He represented his peers at the Soweto Students’ Representative Council during the student uprisings of 1976 in Soweto.
avoiders of the press Mntambo is the brains behind the Sediba Accord and the Sediba Consulting business. Mntambo is quite private.
5. Herman Mashaba─ R1.5 billion
Age: 62 years
Source: Politics & Business
Entrepreneurial and political, Mashaba launched the ActionSA party on August 29, 2020. As mayor of Johannesburg from 2016 to 2019, he will step down in 2019.
His commercial success is the primary source of his fortune. The Black Like Me hair care line he founded was named after him.
4. Sipho Nkosi─ R1.8 billion
Age: 67 years
Source: Business
Nkosi, a renowned businessman and corporate leader, has been on the boards of directors at several of South Africa’s most successful companies, including Ford SA, sasol, and sanlam.
Nkosi’s private life is a mystery, and that’s the extent to which we know about him.
3. Phuthuma Nhleko─ R1.8 billion
Age: 61 years
Source: Business
Former MTN Group executive chairman and CEO Phuthuma Nhleko comes in at number three. At the dawn of our democracy in 1994, Nhleko formed Worldwide African Investment Holdings, a holding company with investments in the energy, telecommunications, and information technology sectors.
2. Tokyo Sexwale─ R3 billion
Age: 68 years
Source: Politics, Investments & Business
Sexwale has an impressive political pedigree thanks to his time spent on apartheid-era Robben Island with Nelson Mandela.
After his release, he quickly advanced through the ranks of the ANC.
He founded Mvelaphanda Holdings, a conglomerate with stakes in the mining and oil industries.
1. Cyril Ramaphosa─ R6.75 billion
Age: 69 years
Source: Politics, Investments & Business
First place goes to Cyril Ramaphosa, the current president and a business tycoon who is worth an estimated $450 million.
Ramaphosa established Shanduka Group in 2001 as a black-owned investment holding firm and has since expanded its holdings to include both publicly traded and privately held companies.
Financial news outlets including Forbes Africa and Bloomberg have profiled Ramaphosa.
Reputable sources:
https://www.glusea.com/top-10-richest-politicians-in-south-africa/#Saki_Macozoma_-388_million
https://wallmine.com/otc/vdmcy/officer/2061487/sakumzi-macozoma
https://briefly.co.za/61143-saki-macozoma-bio-age-children-wife-vodacom-saa-cars-house-net-worth-contacts.html
https://briefly.co.za/61141-mike-teke-bio-age-son-wife-qualifications-seriti-cars-house-net-worth-contacts.html
https://ilearnhow.co.za/top-10-richest-politicians-in-south-africa-2021/
https://www.news24.com/fin24/companies/jse-appoints-phuthuma-nhleko-to-its-board-20210510
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