Ten richest black men
The value of these top dogs is based on the value of JSE-listed company shareholdings of listed directors based on the March 31 2011 share price, writes Mpho Sibanyoni.
1. Patrice Motsepe
Number 1 on the overall list of the richest individuals and companies in South Africa, Motsepe is worth at least R23 billion.
This qualified attorney also owns a stake in mining firm African Rainbow Minerals and Sanlam. Motsepe is a former president of the National Federated Chamber of Commerce and Industry.
This week he was elected as chairperson of a steering committee comprising presidents of national black organisations and black business stalwarts that will lead an organisation that broke away from Business Unity South Africa.
2. Cyril Ramaphosa
Politician and businessman Ramaphosa’s wealth sits
at R2.2 billion.
He has stakes in Assore, Bidvest, Mondi, MTN,
SABMiller and Standard Bank. Ramaphosa is a qualified attorney who also
used to be legal adviser for the National Council of Trade Unions. He
bought a stake in the McDonald’s franchise in South Africa this year.
» Ranked 13th on the overall list.
3. Sipho Nkosi
Exxaro chief executive Nkosi’s wealth is R1.6 billion.
He also owns a stake in Sanlam. He was a founder and chief executive of
Eyesizwe Coal, one of SA’s largest coal producers.
Prior to founding
Eyesizwe in 2001 he spent three years with Asea Brown Boveri Sub Sahara
Africa and Alstom SA, initially as managing director of ABB Power
Generation (SA) and then as country manager of ABB/Alstom Power until
From 1993 to 1997 he was marketing manager for Billiton
» Ranked 22nd on the overall list.
4. Vincent Mntambo
Exxaro director Mntambo is worth R914.9 million.
is also chairperson of ASG Consulting Solutions. He is a former
lecturer at the University of Natal, executive director of the
Independent Mediation Services of South Africa and director-general in
the Gauteng provincial government.
He is also the chairperson of
Metrobus Limited, director of Eyesizwe Mining and a non-executive
director of SA Tourism.
» Ranked 29th on the overall list.
5. Leonard Sowazi
Exxaro director Sowazi is worth 622.8 million.
also owns stakes in Emira Property Fund and Litha Healthcare Group.
Sowazi is executive chairperson of the Tiso Group.
He serves as a member
of the investment committee of Tiso Private Equity Fund II and Tiso
Private Equity Fund I. He is also the chairperson of Idwala Industrial
Holdings, Home Loan Guarantee Company and the Financial Markets Trust.
He is a non-executive director of African Explosives Limited of AECI
» Ranked 35th on the overall list.
6. Mike Teke
Optimum Coal chief executive Teke’s wealth stands
at R608 million.
Before joining Optimum he was human resources director
at Impala Platinum. He previously worked in human resources at Bayer and
Samancor and was vice-president of human resources at Ingwe Collieries.
He has a Bachelor of Education degree from the University of Limpopo, a
Bachelor of Arts degree from the University of Johannesburg and a
Master of Business Administration degree from the University of South
Africa’s School of Business Leadership.
» Ranked 36th on the overall list.
7. Sakumzi Macozoma
Macozoma owns stakes in the Standard Bank Group
worth R513 million.
He is the chairperson of investment manager Stanlib
and Liberty Life. Stanlib is wholly owned by the Liberty Group.
also serves as deputy chairperson of Standard Bank SA and is director
of the Liberty Group and Volkswagen SA. Macozoma is a significant
shareholder in Safika Holdings.
» Ranked 39th on the overall list.
8. Dalikhaya Zihlangu
Exxaro director Zihlangu’s assets hover at R466.36 million.
He is chief executive
of Eyabantu Capital Consortium. Between 1989 and 1994 he was a
developer and shift boss at Vaal Reefs Gold Mining Company.
until 2002 he was shift boss, mine overseer, operations manager and mine
manager at Impala Platinum Limited. He was later chief executive of
Alexkor. He is a non-executive director of the South African National
Oil and Gas Company, chair of its human capital committee and on its
business strategy committee.
» Ranked 44th on the overall list.
9. Dr Mlungisi Kwini
Optimum Coal’s non-executive director, Kwini’s
wealth is worth at least R432.6 million.
Optimum Coal is the
sixth-largest coal producer in South Africa. Kwini chairs Kwini Mining
Investments, Ilitha Resources and Lukhanyo Transport and Logistics, a
family-owned business that provides transportation and logistics
solutions to the industrial mining and petrochemical sectors. Kwini
holds a doctorate in chemistry from the University of California in the
» Ranked 53rd on the overall list.
10. Eliphus Monkoe
Monkoe is worth R425.6 million and owns a stake in
Optimum Coal Holdings.
He is a former chief operating officer at Becsa
and Ingwe Collieries, BHP Billiton’s wholly-owned energy-coal business
in South Africa. He also owns Monkoe Coal Investments.
» Ranked 39th on the overall list.
Sources: Who Owns Whom and Who’s Who SA