Fin24

SA billionaires double in 2010

2010-12-05 11:57

Johannesburg - A survey compiled on behalf of Business Times by Who Owns Whom, shows that the number of billionaires in SA increased from 16 in 2009 to 31 this year.

The statistics are based on the holdings of all JSE-listed companies.

While Indian-born Lakshmi Mittal, the fifth wealthiest man on the planet, tops the list of billionaires invested in the JSE thanks to his stake in ArcelorMittal SA [JSE:ACL], the richest South African is Patrice Motsepe.

According to the Business Times survey, he is worth R19.9bn thanks to his holdings in African Rainbow Minerals [JSE:ARM] and Sanlam [JSE:SLM]. However, this is still down from estimated holdings worth R22bn in 2008.

De Beers chairperson, Nicky Oppenheimer, and Shoprite Holdings [JSE:SHP] chairperson, Christo Wiese, complete the top four rankings.

The survey shows that the top twenty billionaires enjoyed a 45% jump in their wealth this year to almost R103bn.

"Of the 31 billionaires on this year's list, 23 were entrepreneurs," the newspaper stated.

"Six were empowerment players, four inherited their wealth, and four made their fortunes through their jobs as executives."

Comments
  • Jakes - 2010-12-05 12:59

    Deel bietjie uit, toe man...

  • Neso - 2010-12-05 18:40

    Nobody can make that sort of money legally,ethically or morally in a short 16+ years - or am I just biased because I'm inherently honest?

  • stefanie - 2010-12-05 22:10

    So only four actually worked for their money. Wanna release some names?

  • Notbee - 2010-12-06 07:27

    To those that have done it on their own, good on you.

  • Ryan - 2010-12-06 08:02

    People who are tight with their money usually end up being rich.

  • Afrika - 2010-12-06 10:48

    "so what" it's only what they will say to the poor...sies man...they @ times disgusting .

  • viparo - 2010-12-06 12:28

    @ Stefanie "So only four actually worked for their money." Are you suggesting that the rest (bar those that inherited) IE the entrepreneurs, didn't work for their money? What a stupid thing to say.

  • Tebza - 2010-12-06 12:31

    Nkalakatha, what does your comment have to do with the article? do you work for Servcon? Have you got a personal problem with the two guys in question? Funny how you know what cars they drive. if you work for Servcon, raise your issues with the Board, this is not the right platform to air personal vendettas I am afraid

  • el - 2010-12-06 13:03

    To those that made it honestly, well done, maybe you could give us plebs some tips...

  • @neso - 2010-12-06 13:16

    No I don't think you are biased. I think that you are stupid. A lot of people make a lot of money becuase they create products and services that are worth lots of money. It is not always about dishonesty. Some people just add a lot of value to society!! Stop bitching cos you are too thick to make it

  • Al - 2010-12-06 14:16

    I think it's time to 'Nationalise the billionaires wealth' and distribute it amongst the poor...cos no one person should have more than 999 million Rand!

  • steve - 2010-12-06 14:43

    and i thought we were in a recession with unemployment climbing uncontrollably. It certainly helps being politically connected and how did BEE help the unemployed masses? This really stinks!

  • Tisso - 2010-12-06 15:30

    What does it help though, because if you do accumulate 2c it's far too tied up and it never is like you thought it was.The little you can use, the same apples, chicken, briefcase, etc is given a 1000% margin to make you feel it's different. Surprising how little money matters in life.

  • Jeepers Creepers - 2010-12-06 15:43

    @Al. Let's nationalise so that everybody can have about R2100.00

  • Colin - 2010-12-06 15:49

    Isn't this like a replay of the 1930s, when the rich got richer during the Great Depression?

  • HD - 2010-12-06 15:57

    Be interesting to see these in dollar terms - no doubt a few will fall off the list. Not sure Mittal qualifies as a 'billionaire in SA'? An Indian citizen and UK resident. Should be based on individuals residing in SA Based not JSE listings.

  • robyn - 2010-12-06 15:58

    i think a person like Patrice should give most that away because he he was not black he would never have given those opportunities in the 1st place and i thought BEE was not supposed to make 1 person rich but benefit a whole lot of people

  • AJL- neighbour - 2010-12-06 22:40

    There is the line about Patrice's defn of Broader BEE as being when he includes his sister in on the deal. How many cars does the guy own "Downs 1- 99?." I wish he would pay for some of the pot-holes just in his own neighbourhood...and I would forgive him for BBEE.

  • Nasdaq7 - 2010-12-07 05:38

    Most of these people made their money from shares. I hope the rest take note: it is the stock market that gives a person such tremendous wealth in such a short time. It should be the business plan of every business owner to get to the ALX & JSE A.S.A.P.

  • Dr... - 2010-12-07 09:32

    no wonder you guys will never be rich, you are full of jealous. aggg sis

  • golan - 2010-12-08 07:40

    and of corse....... thenk to the american govrement....that saved all the billioners in the world in 2008.....the jse should have been on ...8000 point today. thenx bernankie.

  • Fred - 2010-12-08 10:59

    @Nasdaq7...the stocka market has rallied by nearly 40% since the start of the year! Thats explains why their wealth increased. Its a function of the global equity markets....try explaining that to Patrick Craven

  • e zase afro - 2011-02-15 12:46

    Nkalakatha u clearly don't know anything about Mr Mpambani,how he acquired his vehicles is non of ur business.There is no law in SA that says CEO'S can't drive big machines.Mr Mpambaniis a well educated man a qualified Chartered Accountant if u will,something u will never even dream of because of ur lack of ambition.U R IRRELEVANT.....

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