Fin24

Motsepe is SA's richest man

2011-09-04 11:44

Johannesburg - Mining magnate Patrice Motsepe has topped the annual Sunday Times Rich List for the first time, the newspaper reported on Sunday.

Motsepe, the chairperson of African Rainbow Minerals [JSE:ARM], was now worth R22.99bn.

Indian steel magnate Lakshmi Mittal, who had been number one for several years, dropped to second with R20.87bn, according to the Sunday Times.

The list was compiled by Who Owns Whom.

Researchers analysed the holdings of directors of all JSE Ltd [JSE:JSE] listed companies. It was based on publicly available information.

According to the report there are now 28 billionaires in South Africa compared to 31 last year.

Others who made the list were: Shoprite Holdings [JSE:SHP] CEO Whitey Basson, non-executive director at Octodec Investments, Sharon Wapnick, who was the only woman among the 100 richest people, Transnet's former acting CEO Chris Wells, Nicky Oppenheimer, South African-born Marius Kloppers, CEO of mining group BHP Billiton [JSE:BIL], and Bernard Kantor, the managing director of Investec [JSE:INL].

 

Comments
  • Lyndatjie - 2011-09-04 12:20

    Nationalise everything he owns... Right Julius?

  • motsokwi - 2011-09-04 12:27

    That is why he has the nerve to say nationalization of the mines will never work. He want to maintain being on the top of the list.Those monies should be counted in the coffers of the Nation.

  • vishal.massallia - 2011-09-04 12:35

    I think you have your facts wrong Lakshmi Mittal is not South African and he's worth more than R20.87bn. He is the fifth richest man in the world

      brown_bread - 2011-09-04 15:10

      I think they know, just reporting about his assets here I would assume.

      Gerald - 2011-09-06 13:33

      There was some report i read on one of the finance mags that said assetwise on the jse, foreigner mittal had the mo$t aggrgtd. Also said motsepe had mega billions in financial stocks too like sanlam and what not. So you know whose caviar your ripoff car ins premiums are buying. While on the car, the metals that made it you bought from who for a fortune?? All that times millions of people literally... It all figures.

  • Lembede - 2011-09-04 12:38

    Why Lakshmi Mittal on the SA richest list? Just curious.

      amos - 2011-09-04 15:13

      Besides his global assets maybe because he owns south africa's old ISCOR. What happened to Anglo American group that during the Apartheid era owned nearly 80% of all south african equity? How many of these socalled rich are in fact owing Anglo /

  • Limpopoist - 2011-09-04 12:42

    Where can i see the list....

      Tolerant - 2011-09-05 16:26

      I would like to see who is off the list, 3 less than last year.

  • Succubus - 2011-09-04 12:48

    Brilliant! I've always been a fan of Patrice Motsepe. I hope there are ANCYL supporters reading this article. And I hope that after they read the article, that they attempt to mature and choose to follow the likes of Motsepe and others like him, as apposed to the economic fools who are currently leading the ANCYL and its followers into economic failure. Well done Mr Motsepe!

      Dmitri - 2011-09-04 14:32

      ANCYL supporters cannot read

  • Cobus Lubbe - 2011-09-04 12:57

    Wow some seriously rich people out there!!!!

  • Cobus Lubbe - 2011-09-04 12:57

    Wow some seriously rich people out there!!!!

  • gcr - 2011-09-04 12:57

    You have to ask the question how does a person move from a lawyer in the early 1990's to the richest man in SA? Just asking

      zaatheist - 2011-09-04 14:03

      Bribery, corruption, fiddled tenders, kickbacks, ANC friends .........

      johan - 2011-09-04 14:08

      ZUMA AND HIS ANC CRONIES MUST HAVE SOMETHING TO DO WITH IT.

      Nuck Choris - 2011-09-04 14:50

      And not only that, but his wealth surpasses some families that have taken centuries to build their holdings.

      Denise - 2011-09-04 17:41

      Justice Minister Jeff Radebe’s wife, mining tycoon Bridgette Radebe, the country’s richest & most powerful woman who owns Mmakau Mining & was put in charge of the state owned Alexkor when it “Privatised”...BEE style..that means state assets that were robbed by ANC, BEE moguls. She is also the sister of Patrice Motsepe, reportedly the richest man in SA, who owns African Rainbow Minerals. The mother of Bridgette & Patrice is Magaret Keneilwe, a Tswana Princess, so they do not come from a “Previously Disadvantaged” background, rather a super rich elite background. Bridgette is also the sister in law of another BEE mogul Cyril Ramaphosa. Her & Patrice’s other sister, Tsepiso Ramaphosa is the wife of Cyril Ramaphosa. These super rich Black Miners & arch communists are all supporting Nationalization of the mines. They are the ones behind Julias Malema and his Nationalisation rhetoric. “Power to the people”, they profess whilst concentrating more power to an ever smaller & super rich elite of BEE thieves. Robbing & raping the mineral wealth of South Africa. Never forget that in the lexicon of the Communist, “The people” means the Communist elite and the Communist inner circle. Follow the money and you will see who that inner circle is. If they have such high socialist ideals why do they not sell all their assets and give their wealth to the poor blacks?

      Tolerant - 2011-09-05 16:27

      The new SA probably helped.

      Atoombom - 2011-09-05 18:36

      @ Denise - you are spot on with the whole family raping the mining industry up the @ss. Stealing is not the word for these thieves

      litha.luzipo - 2012-11-21 15:26

      thats one person who is not politically connected. Feel free to investigate him.

      Zothani Deludela Dludla - 2013-11-06 16:34

      Nothing is Impossible

  • Cobus Lubbe - 2011-09-04 12:58

    Wow some seriously rich people out there!!!!

  • Proefleser - 2011-09-04 13:29

    Haha, love the piggyback story - Motsepe: Nationalisation does not work.

  • X-Ray - 2011-09-04 13:39

    Excellent! A good start for Nationalization. Malema, where are you?

  • letsee - 2011-09-04 13:49

    WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!! WoW!!!! We have a world record !!!!!!!!!!!!!

  • mark13077 - 2011-09-04 14:16

    mm

  • BBBoy - 2011-09-04 14:20

    BBoy @ vishal yes mittal is nt south african but he owns a stake in a jse listed company...the list is made up of people with most money who get their money from jse listed companies.

  • thozi - 2011-09-04 17:08

    Mr Motsepe has always displayed a type of a normal human being with dignity, intelligence, humanity, politeness, non-arrogance, generosity and kindness. Together with his equally warm and beautiful wife, I fully believe they deserve to be right up there at the top. My sincere congratulations to him.

      Nox - 2011-09-05 18:43

      Why don't you start being kind & all the nice characters you have given Mr Motsepe & check if you too can be rich.I bet you won't be rich by being nice.Even if you don't congratulate him;he will stil be rich.He doesn't need your bledsings.

  • Wayne - 2011-09-04 17:14

    Oh boy....BEE is so awesome..

  • Happygas - 2011-09-04 18:07

    to rich to soon??????bee/anc??????

  • 50something - 2011-09-05 18:51

    How can a parastatal's boss be amongst the richest? For the record - that's Shoprite shopping for me - R624 mil???? Guess P'nP's bosses are not far behind - Shame on you, making money on food that everyone needs ..., just like these medical aids

      paul - 2011-09-06 13:25

      Why don't you start your own Shoprite. Then you can sell food at cost and not draw any salary... That's the free market for you.

  • Charmaine McBride - 2011-09-06 10:04

    He should be greatly taxed. The fact that he has not proposed it himself and the fact that his name does not come up when talking about inequality shows the double standards and racist attitude of certain groups.

  • vusitenza.tenza - 2012-09-24 14:02

    Sundowns boss kabuyello

  • zetzingane - 2012-11-21 15:24

    comments bellow show a problem we faced with in south africa umona and greed

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