Top 10 Richest Politicians In South Africa

South Africa, a country known for its complex political history and stark economic disparities, is home to a select group of politicians who have risen to prominence and amassed substantial wealth. In this article, we delve into the lives and fortunes of the top 10 richest politicians in South Africa, shedding light on their backgrounds, sources of wealth, and their overall impact on the country's political and economic landscape.

Politics and wealth often intersect, and South Africa is no exception. These politicians have not only played pivotal roles in shaping the country's governance and policies but have also ventured into various industries, leveraging their connections and expertise to build prosperous business empires.

From Cyril Ramaphosa, the current President of South Africa, to Tokyo Sexwale, a prominent anti-apartheid activist turned businessman, these individuals have demonstrated a unique ability to navigate the realms of politics and entrepreneurship. They have harnessed their positions of power to forge lucrative business alliances, investing in sectors such as mining, telecommunications, construction, energy, and finance.

While their immense wealth has undoubtedly contributed to their influence, it is important to recognize the broader impact they have had on the nation. Many of these politicians have actively engaged in philanthropic endeavors, focusing on education, healthcare, and housing initiatives, aiming to address the social inequalities that persist in South Africa.

Through this exploration of their wealth and influence, we gain insights into the intricate relationship between politics and money in South Africa, and the role these politicians play in shaping the country's economic trajectory.

Top 10 richest politicians in South Africa 2023

1. Cyril Ramaphos

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President Cyril Ramaphosa is the highest paid politician at the moment, with an annual salary of $265 020, which is about R4.2 million, according to Buzz South Africa. R4.2m/year is the salary put aside for the highest political office in the country. But, that’s not why President Ramaphosa tops this list. Cyril Ramaphosa was a millionaire long before his election at the head of state.

In 1999, Ramaphosa lost the ANC presidency election to Thabo Mbeki and he quit the ruling party to venture into the business sector. Cyril Ramaphosa has achieved success not only in politics but in his businesses as well. The SA head is worth an estimated R6.4 billion ($450 million) as of 2018. He made his impressive nett worth through properties and previous ownership in companies, including McDonald’s and businesses he founded.

2. Tokyo Sexwale

Tokyo Sexwale is a prominent South African politician and businessman. With a diverse portfolio of business interests, including mining, construction, and energy, Sexwale has accumulated considerable wealth. He was a former anti-apartheid activist and political prisoner alongside Nelson Mandela and later served as a government minister.

3. Patrice Motsepe 

Patrice Motsepe is one of the most well-known billionaires in South Africa. He made his fortune through various business ventures, primarily in the mining industry. Motsepe is the founder of African Rainbow Minerals, a leading mining company in South Africa. As an influential figure, he has also been involved in philanthropic initiatives, particularly in the areas of education and healthcare.

In 2012, Motsepe was named South Africa's richest man, topping the Sunday Times' annual Rich List with an estimated fortune of R20.07 billion ($1 billion). Almost a decade later in 2020, Motsepe was ranked as the 1,307th-wealthiest person in the world by Forbes, with a reported fortune of US$2.1 billion.

4. Sipho Nkosi

Sipho Nkosi is a renowned figure in South Africa's mining industry. He served as the CEO of Exxaro Resources, one of the largest diversified mining companies in South Africa. Under his leadership, the company experienced substantial growth and success, contributing to Nkosi's personal wealth.

5. Mosima Gabriel

Mosima Gabriel is a South African businessman, politician, anti-apartheid activist, and former political prisoner. Sexwale was imprisoned on Robben Island for his anti-apartheid activities, alongside figures such as Nelson Mandela. After the 1994 general electionthe first fully democratic election in South Africa Sexwale became the Premier of Gauteng Province. He served in the government of South Africa as Minister of Human Settlements from 2009 to 2013. He is number 2 of the top 10 richest politicians in South Africa.

6. Vincent Mntambo

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Zwelibanzi Vincent Mntambo is a South African businessman whose contribution to the country’s development sector is beyond measure. So much mystery hovers around Vincent, given the fact that he keeps a private life. He tends to keep a low profile, having his family away from the ever-wandering eyes of the public. Vincent Mntambo net worth is estimated at $69.5 million making him one of the top 10 richest politicians in South Africa.

7. Mike Tete

Mike Teke is set to become one of the major players in South Africa’s domestic and export coal markets as he believes that this rather unpopular commodity still has a future, and is crucial to GDP development. He is one of the richest politicians in South Africa.

He was born in 1964 in Kwa Thema, Springs, in South Africa. He holds a post-graduate sciences degree from Limpopo University. He was awarded the honors degree from the Rand Afrikaans University plus other business and human resource-related courses. Read more: https://briefly.co.za/61141-mike-teke-bio-age-son-wife-qualifications-seriti-cars-house-net-worth-contacts.html

8. F. W. de Klerk

Among the wealthiest politicians in South Africa is former President F.W De Klerk. He served as State President of South Africa from 1989 to 1994 and as Deputy President from 1994 to 1996. As South Africa’s last head of state from the era of white-minority rule, he and his government dismantled the apartheid system and introduced universal suffrage. Ideologically a conservative and an economic liberal, he led the National Party from 1989 to 1997.

9. Saki Macozoma

Saki Macozoma is prominent South African politician and a business man.

Macozoma is Deputy Chairman of Volkswagen South Africa, lead independent non-executive director of Vodacom South Africa, Chairman of Credit Suisse Standard Security and Lliso Consulting.  

From 2007 to December 2013, Macozoma was chairman of Liberty Holdings. He resigned to concentrate on his Safika business interests. Before joining Standard Bank he was chief executive of New Africa Investments Limited (Nail), a publicly listed investment company with a broad portfolio that included radio stations, outdoor media and the Hertz car rental company. Macozoma net worth is $38.8 million making him one of the top 10 richest politicians in South Africa.

10. Jacob Zuma

Jacob Zuma served as the fourth President of South Africa from the 2009 general election until his resignation on 14 February 2018.

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Shortly after his resignation on 16 March 2018, the National Prosecuting Authority announced that Zuma faced prosecution on corruption charges relating to the 1999 Arms Deal. He pleaded not guilty on 26 May 2021, but the trial was not scheduled to take place until early 2023. In July 2021, Zuma was imprisoned in Estcourt, KwaZulu-Natal, for contempt of court for a separate legal matter. After testifying for less than three days at the Zondo Commission on state capture allegations, he refused to return, violating summons and a Constitutional Court order compelling his testimony. On 29 June 2021, the Constitutional Court sentenced him to fifteen months imprisonment. He was arrested on 7 July and released on medical parole two months later on 5 September. The high court rescinded his parole on 15 December. The parole was declared unlawful by the Supreme Court of Appeal, but it allowed the Department of Correctional Services to consider whether to deduct the time spent under it from his sentence.