South Africa's Billionaires List Revealed
South Africans were stunned to see the top 10 billionaires in the country, including Patrice Motsepe and President Cyril Ramaphosa as the least wealthy.
President Ramaphosa came in last place with a net worth of R7.75 billion, primarily due to his business career before becoming president.
- He founded the 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.
His billionaire status comes mainly from his business career before becoming president.
Author's summary: SA billionaires list includes Ramaphosa.