Did you know South Africa has the highest number of millionaires compared to other African nations?
There are thousands of South African millionaires today.
Most of them have invested in various businesses.
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The country has a favourable business environment and a relatively stable economy.
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There are many self-made South African millionaires in 2024.
Others were born into wealthy families and have invested in industries that pay well.
Dj Zinhle at the Comedy Central Roast Of Khanyi Mbau at the Teatro at Montecasino in Johannesburg, South Africa. Photo: Oupa Bopape/Gallo ImagesSource: Getty Images
Some of thewealthiest peoplein the country are known for their flashy lifestyles.
Top 17 South African millionaires in 2024
Many people dream of becoming wealthy.
As a result, they work hard to achieve millionaire status.
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Discover the top millionaires in contemporary South Africa and the businesses they run.
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Who is the most handsome man in South Africa?
Top 10 list
She has multiple honors and several successful business enterprises to her credit.
Khanyi Mbau attends the African National Congress (ANC) Siyanqoba countdown to victory rally at the Market Theatre in Johannesburg, South Africa. Photo: Frennie Shivambu/Gallo ImagesSource: Getty Images
Zinhle is an author, entrepreneur, record producer, singer, and proud mother in addition to deejaying.
She is a renowned media and television personality, actress, artist, and entrepreneur.
The actress has aline of gincalledI Am Khanyi.
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The brand represents her persona and style.
She has also invested in real estate and runs 2k Business Centres in Sandton.
The actress' assets include luxury cars.
Businessman Duduzane Zuma during second day of his testimony at the commission of inquiry into state capture on October 08, 2019 in Johannesburg, South Africa. Photo: Thulani Mbele/SowetanSource: Getty Images
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15.
Duduzane Zuma - $15 million
Duduzane Zuma is a businessman and philanthropist.
Cassper Nyovest posing for pictures in a black t-shirt and blue tracksuit. Photo: @casspernyovest (modified by author)Source: UGC
Duduzane bought an R18 million apartment in Burj Khalifa, Dubai, in 2015.
Duduzane’s posh rides confirm his reputable financial status.
As of 2024,Duduzane Zuma’s net worthis alleged to be $15 million.
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He is arapper, entrepreneur, songwriter, record producer, and part-time boxer.
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The entrepreneur owns a record label called Family Tree.
Former South African President Jacob Zuma gestures as he delivers a speech during a rally in his support outside the High Court in Durban. Photo: Gianluingi/ AFPSource: Getty Images
His apparel line is also called Family Tree.
He recently launched a tequila beverage called Billiato and signed a Root of Fame sneaker deal with Drip Footwear.
He sits on the board of the firm with other family members.
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He owns multiple assets in different parts of the world, including Dubai and Nkandla.
Most people recognise her from the Mzansi Magic reality seriesKwa Mam’Mkhize.
After completing her studies, she started aconstruction companycalled Zikhulise Group.
MaMkhize posing for pictures in orange and black outfits. Photo: @kwa_mammkhize (modified by author)Source: UGC
She is also the founder of Zikhulise Auto Recoveries, Zikhulise Maintenance and Transport, and Inyanga Trading.
She also owned Royal Eagles FC, a South African football club, but has since sold itS.
Being in the construction industry means she has invested in properties and is amongthe richestproperty moguls in South Africa.
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She is one of the most women South African millionaires.MaMkhize’s net worthis guesstimated to be $21.09 million.
Patrice Motsepe, Nicky Oppenheimer and 3 other South African billionaires with massive bank accounts
11.
He is an advisor to Fortune 500 companies and many blue-chip corporates across the globe.
Vusi Thembekwayo sitting on a blue and white sofa. Photo: @Vusi Thembekwayo (modified by author)Source: UGC
He is also the chief executive officer of Seriti.
Eyesizwe Coal thrived and earned him financial success.
In 2006, Kumba Coal, Kumba Resources Limited, and Eyesizwe Coal merged to formExxaro Resources Limited.
Mike Teke, chief executive officer of Seriti Resources Holdings Ltd., on the opening day of the ‘Investing In Resources And Mining In Africa’ Indaba in Johannesburg. Photo: Waldo Swiegers/BloombergSource: Getty Images
Phuthuma Nhleko - $142 million
Who is Rikkie Leigh Robertson?
He has invested heavily in multiple industries.
In 1994, he founded Worldwide African Investment Holdings.
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The company has interests in IT, petroleum, and telecommunications.
Sipho Abednego Nkosi - $163 million
Sipho Abednego Nkosi owns over 89,000 units ofTronox PLCstock worth.
He is the director of this company and has been engaging in stock trading for years.
Phuthuma Nhleko, chief executive officer of MTN Group Ltd., speaks at the Africa Investment Day conference in Frankfurt, Germany. Photo: Hannelore Foerster/BloombergSource: Getty Images
He is also the chief executive officer of Exxaro Resources.
He also founded Tiso Blackstar Group, a media company.
He is one of the founders of FirstRand Bank, alongside Laurie Dippenaar and Paul Harris.
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He founded Rand Consolidated Investing, which became FirstRand Bank after several mergers and acquisitions.
Cyril Ramaphosa - $450 million
Cyril Ramaphosa is one of the leading black South African millionaires in 2024.
He is the fifth democratically elected president of the Republic of South Africa.
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Since assuming government positions, he stepped back from his business pursuits to avoid conflict of interest.
He is the founder of Shanduka Group, an investment firm with interests in multiple industries.
Due to his position,President Ramaphosais chauffeured in a presidential motorcade.
Tokyo Sexwale gives a press conference during the starting day of the World Economic Forum on Africa at the Cape Town International Convention Centre. Photo: AFP Photo/Gianluigi GuerciaSource: Getty Images
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3.
Adrian Gore - $480 million
Adrian Gore is among the top 10richest menin South Africa in 2024.
GT Ferreira, Chairman of RMB Holdings Limited, during a media interview. Photo: Business Day/Gallo ImagesSource: Getty Images
He is the founder of Discovery Holdings, a leading insurance firm in the country.
His company provides health insurance for at least 200,000 companies and about two million people.
The business mogulenjoys carsand likes the thrill of speed.
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Even so, he thinks cars are a waste of money.
Raymond Ackerman - $500 million
Raymond Ackerman runs his business together with his family.
He is the founder of the Pick N Pay Group supermarket chain.
Cyril Ramaphosa during an interview in his home in Hyde Park in Johannesburg, South Africa. Photo: Gallo Images/Rapport/Deon RaathSource: Getty Images
His venture has over 870 retail stores across Africa, Zimbabwe and Australia.
Where does Cyril Ramaphosa live in 2022?
His advanced age has made him step aside from the business.
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His children are running it.Raymond Ackerman’s net worthis alleged to $500 million.
Lauritz (Laurie) Dippenaar - $610 million
Lauritz (Laurie) Dippenaar has invested in financial services.
In 1977, he co-founded Rand Consolidated Investing.
Adrian Gore, chief executive officer of Discovery Ltd., following an interview at the company’s headquarters in the Sandton district of Johannesburg, South Africa. Photo: Waldo Swiegers/BloombergSource: Getty Images
The businessman, investor, and banker is a multi-millionaire who lives a quiet life.
He has a palatialproperty in Johannesburg.
As of 2024,Laurie Dippenaar’s net worthis estimated to be $610 million.
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Recap of the top 15 South African millionaires in 2024
Who is Wanda Zuma?
South Africa is home to about 39,300 high net worth individuals (HNWIs).
Out of these, 2,080 aremulti-millionaireswith a net wealth of at least $10 million.
Laurie Dippenaar, the former CEO of FirstRand, stands outside his house in Bryanstown outside Johannesburg, South Africa. Photo: Per-Anders Pettersson/Getty ImagesSource: Getty Images
Who is the youngest millionaire in South Africa?
Sandile Shezi is recognised as theyoungest millionairein the country.
He is among the few known South African forex millionaires.
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He was born in 1993 and is the founder and CEO of Global Forex Institute.
The richest man in South Africa is Johann Rupert.
He has aguesstimated net worthof $10.2 billion as of 2024.
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What is Patrice Motsepe’s net worth in 2024?
As of 2024,Patrice Motsepe’s net worthis guesstimated to be $2.5 billion.
He is the founder and chairman of African Rainbow Minerals, and he attained billionaire status in 2008.
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Who is the richest person in the world?
Thewealthiest personin the world is Elon Musk, with a net worth of $255.6 billion.
He is the founder of Tesla and SpaceX.
Who are some South African millionaires who became broke?
Are there black billionaires in South Africa?
Yes, Patrice Motsepe is a black billionaire from South Africa.Patrice Motsepe’s net worthis $2.5 billion.
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There are thousands of South African millionaires in 2024.
The list above shows the top 17 people who acquired wealth by running successful businesses.
Briefly.co.za recently published a list of thecheapest carsin South Africa.
A car has become a necessity rather than a luxury in contemporary South Africa.
One of the biggest factors determining the bang out of car one purchases is the budget.
The cheapest vehicles in the country offer comfort and convenience without emptying your bank account.
Source: Briefly News
Jedidah TabaliaJedi is a journalist with over 5 years working experience in the media industry.
She has a BSc.
She loves traveling and checking out new restaurants.
She holds a Diploma in Mass Communication and a Bachelors degree in Nutrition and Dietetics from Kenyatta University.
Cyprine joined Briefly.co.za in mid-2021, covering multiple topics, including finance, entertainment, sports, and lifestyle.
In 2023, she finished the AFP course on Digital Investigation Techniques.
She received the Writer of the Year awards in 2023 and 2024.
In 2024, she completed the Google News Initiative course.
Email: cyprineapindi@gmail.com
