Richest People in South Africa 2025
The billionaires who shaped South Africa's economy and their remarkable stories.
South Africa has produced some remarkable entrepreneurs and business leaders. From mining magnates to tech visionaries, these individuals have built empires worth billions while shaping the country's economic landscape.
Notably, 8 out of 10 of South Africa's richest people are self-made billionaires who built their fortunes from scratch. Their stories offer lessons in entrepreneurship, patience, and spotting opportunities others missed.
What about Elon Musk?
While Elon Musk was born in Pretoria and is technically South African, he emigrated to Canada at age 17 and built his fortune entirely in the United States. Most wealth rankings classify him as American, so we've excluded him from this list. If included, his ~$200 billion net worth would dwarf everyone else combined.
South Africa's Billionaires 2025
Johann Rupert
Luxury goodsRichemont (Cartier, Montblanc)
R200 billion
~$11 billion USD
Inherited tobacco company Rembrandt from his father Anton Rupert, but transformed it into luxury goods giant Richemont, which owns Cartier, Van Cleef & Arpels, and Montblanc.
Age
74 years old
Residence
Cape Town / Switzerland
Wealth Source
Luxury goods
Key Facts
- Controls 10% of global luxury goods market
- Founded Laureus Sport for Good Foundation
- Part-owner of several Stellenbosch wine estates
Nicky Oppenheimer
Diamonds, investmentsDe Beers (former), Oppenheimer Family Trust
R160 billion
~$8.8 billion USD
Third-generation diamond heir who sold the family's 40% stake in De Beers to Anglo American for $5.1 billion in 2012. Now manages family investments through Oppenheimer Generations.
Age
79 years old
Residence
Johannesburg
Wealth Source
Diamonds, investments
Key Facts
- Family controlled De Beers for 85 years
- Major investor in Fireblade Aviation
- Extensive wildlife conservation projects
Patrice Motsepe
Mining Self-MadeAfrican Rainbow Minerals
R70 billion
~$3.8 billion USD
South Africa's first Black billionaire. Started African Rainbow Minerals in 1997, buying gold mines that larger companies considered marginal. Brother-in-law to President Cyril Ramaphosa.
Age
62 years old
Residence
Johannesburg
Wealth Source
Mining
Key Facts
- President of Confederation of African Football (CAF)
- Signed the Giving Pledge to donate half his fortune
- Owner of Mamelodi Sundowns FC
Koos Bekker
Media, technology Self-MadeNaspers / Prosus
R55 billion
~$3 billion USD
Transformed Naspers from a newspaper company into a global tech investment powerhouse. His $34 million investment in Tencent in 2001 became worth over $200 billion.
Age
72 years old
Residence
Cape Town
Wealth Source
Media, technology
Key Facts
- Tencent stake was 175,000x return on investment
- Pioneer of pay-TV in Africa (M-Net, DStv)
- Now chairman of Naspers and Prosus
Michiel Le Roux
Banking Self-MadeCapitec Bank
R35 billion
~$1.9 billion USD
Founded Capitec in 2001, revolutionising retail banking in South Africa with low fees and simple products. The bank now serves over 22 million customers.
Age
75 years old
Residence
Stellenbosch
Wealth Source
Banking
Key Facts
- Capitec is most valuable bank on JSE by market cap
- Started career as accountant
- Major Stellenbosch property developer
Stephen Saad
Pharmaceuticals Self-MadeAspen Pharmacare
R30 billion
~$1.7 billion USD
Co-founded Aspen in 1997 with just R3 million. Built it into Africa's largest pharmaceutical manufacturer and a global generic drugs powerhouse.
Age
61 years old
Residence
Durban
Wealth Source
Pharmaceuticals
Key Facts
- Aspen operates in over 50 countries
- Manufactured COVID-19 vaccines for Africa
- Former Sharks rugby team investor
Christo Wiese
Retail Self-MadeShoprite, Pepkor
R20 billion
~$1.1 billion USD
Built Pepkor into Africa's largest clothing retailer and grew Shoprite into the continent's biggest supermarket chain. Lost billions in the Steinhoff scandal but remains wealthy.
Age
83 years old
Residence
Cape Town
Wealth Source
Retail
Key Facts
- Lost R60 billion in Steinhoff collapse
- Still major Shoprite shareholder
- Owns Lanzerac Wine Estate
Allan Gray
Asset management Self-MadeAllan Gray Limited
R18 billion
~$1 billion USD
Founded Allan Gray Investment Counsel in 1973, pioneering contrarian investing in South Africa. The firm now manages over R700 billion in assets.
Age
86 years old
Residence
Cape Town / Bermuda
Wealth Source
Asset management
Key Facts
- Known as SA's Warren Buffett
- Orbis Investment manages offshore assets
- Major philanthropist through Allan Gray Foundation
Jannie Mouton
Financial services Self-MadePSG Group
R15 billion
~$0.8 billion USD
Founded PSG in 1995 after being fired from SMK. Built it into a diversified financial services group with investments in Capitec, Curro Schools, and more.
Age
78 years old
Residence
Stellenbosch
Wealth Source
Financial services
Key Facts
- Early investor in Capitec Bank
- Founded Curro private schools
- Known for identifying undervalued companies
Douw Steyn
Insurance Self-MadeAuto & General Insurance
R12 billion
~$0.7 billion USD
Built Auto & General into one of South Africa's largest short-term insurers. Known for lavish lifestyle and ownership of The Saxon Hotel where Nelson Mandela stayed.
Age
66 years old
Residence
Johannesburg
Wealth Source
Insurance
Key Facts
- Sold majority stake in Budget Insurance
- Owns The Saxon Hotel & Spa
- Built the 'Palazzo Steyn' mega-mansion
How Did They Make Their Money?
Finance & Banking
4 billionaires made their fortunes in financial services. Michiel Le Roux revolutionised retail banking with Capitec, while Allan Gray pioneered contrarian investing and Jannie Mouton built PSG into a diversified powerhouse.
Mining & Resources
2 billionaires derive wealth from mining. The Oppenheimer family built De Beers into a diamond monopoly, while Patrice Motsepe became SA's first Black billionaire through gold and platinum mining.
Luxury & Retail
2 billionaires come from consumer-facing businesses. Johann Rupert controls luxury brands like Cartier globally, while Christo Wiese built Shoprite and Pepkor into African retail giants.
Tech & Media
1 billionaire - Koos Bekker - made arguably the best investment in SA history when he put $34 million into Tencent in 2001. That stake grew to over $200 billion.
Net Worth Comparison
| Rank | Name | Net Worth (ZAR) |
|---|---|---|
| #1 | Johann Rupert | R200 billion |
| #2 | Nicky Oppenheimer | R160 billion |
| #3 | Patrice Motsepe | R70 billion |
| #4 | Koos Bekker | R55 billion |
| #5 | Michiel Le Roux | R35 billion |
| #6 | Stephen Saad | R30 billion |
| #7 | Christo Wiese | R20 billion |
| #8 | Allan Gray | R18 billion |
| #9 | Jannie Mouton | R15 billion |
| #10 | Douw Steyn | R12 billion |
Lessons from SA's Billionaires
Patience Pays
20+ Years
Most billionaires took decades to build their wealth. Koos Bekker held Tencent for 20+ years. No overnight success stories here.
Spot Undervalued Assets
Contrarian Thinking
Motsepe bought "marginal" gold mines. Le Roux built a bank for the unbanked. They saw value where others saw risk.
Dominate a Niche
Market Leadership
Rupert dominates luxury goods. Wiese dominated African retail. Being the best in one area beats being average in many.
Important Notes
- • Net worth figures are estimates: Actual wealth may vary significantly. Private company valuations and asset prices change constantly.
- • Exchange rate sensitive: Rand-to-dollar conversions use approximate rates. A weakening rand reduces USD values.
- • Survivorship bias: For every billionaire, thousands failed. These stories highlight successes, not the many who lost everything.
- • 2025 estimates: Rankings based on latest available data from Forbes, Bloomberg, and company filings.
Frequently Asked Questions
Who is the richest person in South Africa?
Johann Rupert is South Africa's wealthiest person with an estimated net worth of R200 billion (around $11 billion USD). His fortune comes from Richemont, which owns luxury brands like Cartier and Montblanc.
Who is the richest Black South African?
Patrice Motsepe is South Africa's wealthiest Black citizen with an estimated net worth of R70 billion. He founded African Rainbow Minerals and became the country's first Black billionaire.
Is Elon Musk South African?
Yes, Elon Musk was born in Pretoria in 1971. However, he emigrated at 17 and built his fortune in the United States. Most rankings classify him as American, with a net worth of around $200 billion.
How many billionaires does South Africa have?
South Africa has approximately 5-6 USD billionaires depending on currency fluctuations, plus several more in ZAR terms. The exact number varies with the rand exchange rate and stock market valuations.
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