South Africa's Billionaires List Revealed
South Africans were surprised to see the top 10 billionaires in the country, including Patrice Motsepe and President Cyril Ramaphosa as the least wealthy.
President Ramaphosa's billionaire status comes mainly from his business career before becoming president, with a net worth of R7.75 billion.
- He founded Shanduka Group, an investment holding company, after leaving politics in the mid-90s.
- Through the company, he built stakes in several big South African and multinational companies.
- The Phala Phala Game Farm is also one of Ramaphosa's significant sources of income.
No comment from the president regarding the list.
Author's summary: SA billionaires list includes Ramaphosa.