In fact, this country has the highest number of multimillionaires on the continent.
The richest people in South Africa have invested in multiple industries and sectors.
Find out their sources of wealth below.
Photo: canva.comSource: Original
This list is strictly based on net worth as of October 2024.
Check the top 22richest peoplein South Africa below.
She is the daughter of Liberty Group founder Donald Gordon.
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Wendy Ackerman - $300 million
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Wendy Ackerman is the widow of the late SA tycoon Raymond Ackerman, who died on 6 September 2023.
She has served as a non-executive Director of the company since 2010.
Successful businesswoman Wendy Appelbaum is pictured in a striped suit. Photo: Jeremy Glyn/Gallo ImagesSource: Getty Images
He has South African citizenship and resides in the country.
Besides business, he is an avid horse breeder.
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Wendy Ackerman is pictured smiling in a brown outfit. Photo: @PicknpaySource: Facebook
Cyril Ramaphosa - $450 million
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Cyril Ramaphosa has been serving as the fifth and current president of South Africa since 2018.
He has stakes in Coca-Cola and McDonald’s South African subsidiaries.
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He works as a non-executive chairman at the company.Laurie Dippenaar’s net worthis $610 million.
He is the founder and chair of PSG Group.
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The firm invests in banking, financial services, private equity, education, and agriculture industries.
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Dis-Chem sells beauty products, healthy foods, sports supplements, and medications.
Markus Jooste is pictured wearing a suit. Photo: AlmariWesselsSource: Twitter
TheSaltzmans are worthover $1 billion.
His father founded the company, and he joined the firm in 1968.
Mining billionaire Desmond Sacco is married to Angela Bland.
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The couple has two sons, Nicholas and Patrick.Desmond Sacco’s net worthis $1.1 billion.
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Aspen is South Africas largest pharmaceutical manufacturer.
GT Ferreira sitting in his office. Photo: Business Day/Gallo ImagesSource: Getty Images
The company markets generic medicines in 150 countries.
Saad was the first African pharma entrepreneur to claim a billion-dollar fortune.
In 2013, Forbes listed his net worth as $1 billion.
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Presently,Stephen Saad’s net worthis $1.2 billion.
Christoffel Wiese is among the richest people in South Africa, with anet worthof $1.6 billion.
His multi-year legal battle, which ended in a $500 million settlement, made him richer.
President Cyril Ramaphosa attends a press conference after the G20 Compact with Africa conference at the Chancellery in Berlin. Photo: Filip SingerSource: Getty Images
Wiese serves as the chair of Pepkor, a company that retails discount clothes, textiles, and shoes.
He owns around 9% stake in the firm.
He was CEO ofCapitecBank until 2004.
Adrian Gore, chief executive officer of Discovery Ltd., following an interview at the company’s headquarters in the Sandton district of Johannesburg. Photo: Waldo SwiegersSource: Getty Images
He is now its chair and board member.
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The businessman and football administrator has derived his wealth from the mining industry.
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He founded the African Rainbow Minerals, a diversified mining company operating in South Africa and Malaysia.
It deals in gold, ferrous metals, base metals, and platinum.
Motsepe also owns African Rainbow Capital.
Laurie Dippenaar, the former CEO of FirstRand, stands in the garden outside his house in Bryanstown outside Johannesburg. Photo: Per-Anders PetterssonSource: Getty Images
The company invests in different parts of the continent.
Koos Bekker - $3.2 billion
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The company operates in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange.
Chairman of the PSG Group Jannie Mouton in Cape Town. Photo: Michael Hammond/Foto24/Gallo ImagesSource: Getty Images
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Oppenheimer inherited DeBeers from his parents and is the third generation family member to execute the company.
Besides this, he runs Fireblade Aviation in Johannesburg, which offers chartered flights.
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He was the company’s CEO from 2002 to 2021.
He holds the largest individual stake in Glencore.Ivan Glasenberg’s net worthis $11.2 billion.
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Ivan and Lynette Saltzman take a picture together. Photo: @MobileMagzterSource: Twitter
He was the only South African billionaire reported by Forbes to have made financial gains in 2023.
He recorded a $400 million net worth increase in 2023.
Richemont is known for creating luxury brands Montblanc and Cartier.
Desmond Sacco smiling in a black suit and a white shirt. Photo: @BlueBizAfricaSource: Twitter
Elon Musk - $264 billion
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He is the richest man from South Africa and the richest man in the world.
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How many millionaires are in South Africa?
South Africa has the highestnumber of millionairescompared to other African nations.
The country has almost 500,000 millionaires who still call the country home.
Stephen Saad, chief executive officer of Aspen Pharmacare Holdings Ltd, gestures as he speaks during an interview at the company offices in Durban. Photo: Waldo Swiegers/BloombergSource: Getty Images
Who is the richest man in Africa?
Aliko Dangote is therichest man in Africawho resides on the continent.
He is worth around $13.4 billion in 2024.
Christoffel Wiese poses for a photograph following a Bloomberg Television interview at the Pepkor Holdings Pty Ltd. offices in Cape Town. Photo: Waldo SwiegersSource: Getty Images
Who are the top 10 richest people in Africa?
Check out the list of the wealthiest people in South Africa above.
How many billionaires are in SA?
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There are over ten billionaires in South Africa as of 2024.
Check out who they are above.
Who is the black billionaire in South Africa?
Michiel Be Roux smiles at the camera. Photo: @yonela_dikoSource: Twitter
Patrice Motsepe is the only black billionaire in South Africa.
How many billionaires are in Africa?
There are over 20 billionaires on the continent.
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They come from different countries, including SA andNigeria.
Who are the richest people in the world?
What is the top 1% in South Africa?
Patrice Motsepe, founder and chairman of African Rainbow Minerals Ltd., listens during the Milken Institute Global Conference in Beverly Hills, California, U.S. Photo: Patrick T. Fallon/BloombergSource: Getty Images
South Africa’s top 1% includespeople who earnover $109,000 per year.
The richest people in South Africa are billionaires and multimillionaires in US Dollars.
They are all hardworking people who have invested time, money, and effort in their companies and businesses.
Koos Bekker, billionaire and chairman of Naspers Ltd., speaks during an interview at his office in Cape Town. Photo: Halden Krog/BloombergSource: Getty Images
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Briefly.co.za published a list ofSouth African millionaires.
Mzansi has the highest number of millionaires compared to other African nations.
There are over 39,000 South African millionaires.
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Most of them have invested in various businesses.
The country has a favourable business environment and a relatively stable economy.
She graduated from Meru University of Science and Technology with a Bachelor of Technology in Civil Engineering in 2019.
Patrick Soon-Shiong, President of Nantworks, poses during the Ambrosetti International Economic Forum in Como, Italy. Photo: Pier Marco Tacca/Getty ImagesSource: Getty Images
In 2023, Priscillah finished the AFP course on Digital Investigation Techniques.
She has been writing articles on Briefly.co.za since 2019.
She has a Bachelor of Commerce & IT from the University of Nairobi and joined Briefly.co.za in November 2019.
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The writer completed a Google News Initiate Course.
you could email her at perisrodah254@gmail.com.
Nicky Oppenheimer, the Chairman of De Beers, stands in a De Beers boardroom in Gaborone, Botswana. Photo: Per-Anders PetterssonSource: Getty Images
Ivan Glasenberg, billionaire and chief executive officer of Glencore Plc, speaks during a panel debate at the St. Petersburg International Economic Forum (SPIEF). Photo: Chris RatcliffeSource: Getty Images
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Johann Rupert, The CEO and Chairman of The Richemont Group, plays a shot prior to the Alfred Dunhill Championship at Leopard Creek Country Club in Malelane, South Africa. Photo: Luke WalkerSource: Getty Images
SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer Award in Berlin, Germany. Photo: Britta Pedersen-Pool/Getty ImagesSource: Getty Images
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