Naspers boss among Africa's 40 richest

2012-11-21 14:59

Cape Town - Two South African tycoons have made it onto Forbes’ second annual list of Africa’s 40 richest.

They are Naspers [JSE:NPN] CEO Koos Bekker and mining mogul Desmond Sacco, who is also the richest newcomer, with a net worth of $1.4bn. The two have claimed the number 15 and 36 spots, taking the number of South Africans on the top 40 Africa rich list to 12.

According to Forbes, rising stock prices helped to shake up the ranks of the Africa rich list, with a quarter of the list members this year being newcomers.

For the first time two women - Folorunsho Alakija of Nigeria and Isabel dos Santos of Angola - are also included in the newcomer list.

Bekker, known as the Rupert Murdoch of South Africa, has turned Naspers into a global media powerhouse, with investments in China’s instant messaging giant Tencent Holdings and Russia’s internet player

As the CEO, Bekker has overseen a rise in the market capitalisation of Naspers from about $600m in 1997 to a recent $25bn – all the while drawing no salary, bonus or benefits.

His $450m net worth lies mostly in the value of vested options in Naspers.

Sacco chairs JSE-traded mining firm Assore [JSE:ASR], whose shares have soared more than 60% over the past year despite the recent labour strife in the mining sector.

According to Forbes, Alakija started as a secretary at an investment bank in the 1970s, launched a fashion label for upscale clientele in the 1980s and was awarded an oil prospecting licence for her Famfa Oil company in 1993. Alakija’s fortune is estimated at $600m.

Dos Santos, with a net worth estimated at $500m, is an entrepreneur, investor and daughter of Angola’s President Jose Eduardo dos Santos. Her first business venture was an eatery in Luanda called Miami Beach Club. Current assets include investments in Portuguese banks and Portuguese TV and internet company Zon Multimedia.

Making up the top 10 are:

  • Property baron Sudhir Ruparelia of Uganda with a net worth estimated at $900m;
  • Salim Bakhresa, the first African from Tanzania to make the Forbes list with an estimated net worth of $520m;
  • Morocco's Moulay Hafid Elalamy with a net worth of $500m;
  • Oil magnate OB Lulu-Briggs of Nigeria, with a net worth of $500m;
  • Sani Bello of Nigeria, who owns a slice of MTN Nigeria, with a fortune estimated at $425m; and
  • Naushad Merali, the only Kenyan on this year’s list, with an estimated net worth of $410m.
Other South Africans making up more than a quarter of Africa's 40 richest are:

2. Nicky Oppenheimer & family ($6.4bn);
3. Johann Rupert & family ($5.7bn);
6. Christoffel Wiese ($3.7bn);
8. Patrice Motsepe ($2.65bn);
17. Stephen Saad ($975m);
21. Cyril Ramaphosa ($675m);
23. Lauritz (Laurie) Dippenaar ($625m);
27. Raymond Ackerman ($550m);
35. Gerrit Thomas (GT) Ferreira ($480m); and
38. Jannie Mouton ($415m).

According to Forbes, Africa seems to be getting too small for the continent’s richest man. Nigerian Aliko Dangote, with an estimated net worth of $12bn, is planning to expand his cement operations to Myanmar and Iraq.

His flagship company, Dangote Cement, is Africa's largest cement manufacturer with operations in 14 African countries. Last month he sold his controlling stake in Dangote Flour Mills to consumer goods firm Tiger Brands [JSE:TBS] for $190m.

*Fin24 is a Naspers publication.

  • theMichaelHawthorne - 2012-11-21 15:16

    And the rest of the world are left with scaps brilliant!

      leon.mare.7 - 2012-11-21 15:27

      At leaste these people earned their riches working hard and legally

      priyal.pillay - 2012-11-21 15:49

      Ha Leon! How naïve. How do you know this? Whats that quote..."behind every great fortune, there is a crime."

      hamish.drake1 - 2012-11-21 15:55

      Really Leon? This is Africa. How many started with family / political connections? Don't get me wrong, if you are self made through hard work and sweat, then good luck to you. But all to often that is not the case. Ramaphosa, Motsepe and Dos Santos are all politically connected. And those are just the ones mentioned in the article.

      rodger.synclair - 2012-11-21 19:39

      Let's not forget that Harry Oppenheimer was a member of parliament during the apartheid regime.... And his mining institutions were considered "National Key Points".... But, I am not going to assume that the wealth is entirely innocent.

      marilyn.pride.16 - 2012-11-22 09:37

      @ leon: I strongly doubt that any of the above mentioned people have ever shed a drop of sweat doing anything of significance! Behind all those 'impressive figures' above are the sweat, tears and blood of millions of "insects" (for that is how the ordinary laborer is treated)!

      neil.frandsen - 2012-11-22 11:20

      The biggest problem with SA is that we are so busy trying to figure out how to get someone out of their luxury car, instead of figuring out how we can get into our own! Focus on what will change your life. I cant imagine that you can make $100 million dollars or more by accident, trust me that takes a lot of blood sweat and tears. For those of you who think the little people made the money for them, the answer is yes, however in return for their services and skill level they were compensated according to the employment agreement that they wilfully engaged in.

      louwhan.hoffmann - 2012-11-22 14:34

      @Leon - especially Isa dos Santos. She worked her fingers to the bone.

      marilyn.pride.16 - 2012-11-22 16:07

      @ neil: things are not that simple. First you comply with the following standards. 1) rich, influential family or exceptionally good luck 2) food in your stomach and a safe roof over your head 3) good education 4) a degree 5) a fighting spirit (meaning you would do everything/everyone it takes to get what you want) Working hard alone brings you NOWHERE!!

      karel.dutoit.50 - 2012-11-27 09:17

      @marlin.Pride Rubish if that is what you believe so be it. It takes one good idea to make money. Only one no matter what your background education or money status is.

  • gary.desousa.7 - 2012-11-21 15:25

    Good luck to them all ,well done and also Im sure most do plenty of good works too.

  • ronnie.duplessis.7 - 2012-11-21 15:26

    At least some of them worked for their money. Not like our corupt polititians

      litha.luzipo - 2012-11-21 15:33

      how do you know that?

  • norman.depluhm - 2012-11-21 15:28

    "As the CEO, Bekker has overseen a rise in the market capitalisation of Naspers from about $600m in 1997 to a recent $25bn – all the while drawing no salary, bonus or benefits." Put that in your pipe and smoke it all you parastatal parasites! As opposed to, for example; "Dos Santos, with a net worth estimated at $500m, is an entrepreneur, investor and daughter of Angola’s President Jose Eduardo dos Santos." Hmmmm.....

      sintjohn.witbooi - 2012-11-22 09:05

      Bekker not connected? Ton Vosloo, the Broeder who ran Afrikaans newspapers at the height of Apartheid, took Kosie under his wing and got the M-Net licence from Pik Botha, foreign affairs minister in the Apartheid cabinet, in 1984.

      willem.wulfse - 2012-11-22 15:06

      Between Beeld and MultiChoice Naspers is costing me almost R800 per month. As sintjohn.witbooi was saying, I definitely don't have multiple choices. A historical goldmine.

  • gordon.trevat - 2012-11-21 15:34

    If there is so much wealth in Africa, why are we dependent on foreign aid to sort out our issues? Why do we have people starving across the continent?

      priyal.pillay - 2012-11-21 16:08

      The issue is not a shortage of food. More than 60% of investments in agricultural land by foreign investors between 2000 and 2010 were in developing countries. However two-thirds of those investors plan to export everything they produce on the land.. A balance needs to be struck..

      sheda.habib - 2012-11-21 16:50

      @GordonT....because we have - so much wealth so little brains. All the people have to do is vote for the right politicians and Africa will be fine.

  • DuToitCoetzee - 2012-11-21 16:36

    All I can say is well done oom Koos. May you have many highs waves to ride/enjoy.

  • Sunday Tunde Thomas - 2012-11-21 17:25

    can somebody please have d decency to find out the true source of how dis so called African Rich get dere wealth;i bet u 100% of it is either stolen or gotten from respective country resources like oil,minerals and other;

  • Sunday Tunde Thomas - 2012-11-21 17:31

    if truly Africa has wealthy men and women den i wonder why most Africans still suffer from lack of good health,food,housing and other good things of life enjoyed by pple in first world country;damn all dere ill-gotten wealth

      smith.celeste - 2012-11-22 08:53

      because the politicians steal it before it can get to the people

  • Tinus - 2012-11-21 21:13

    Koos Bekker Eet lekker Wie van ons kan dit nog sê? Wie sou nie sy geld wou hê? Die Broeders het sy naam getrek Die dat sy plat hand so ver strek Jaloesie sal jou en my nie baat Net dié baas se baas kan praat

      sintjohn.witbooi - 2012-11-22 08:42

      Skitterend Tinus! Dig tog nog.

      selma.botha.9 - 2012-11-28 11:03

      Wie nie waag nie, wen nie. Toe Koos Bekker Mnet geloots het, het die doemprofete dit afgelag. Kyk wie lag nou. Koos Bekker was nog altyd sy tyd vooruit.

  • austine.chimex.58 - 2012-11-21 23:36

    I trust naija. Very ,very industrious people

  • carl.lotter.3 - 2012-11-22 06:32

    Very powerful and successful but run by an Afrikaner dictatorship and a fortress untouchable and immunized by cash to retain short term prestige. is there a succession plan - who will take Naspers to 2020 - ? Is this the kind of global company the world needs.

      marilyn.pride.16 - 2012-11-22 10:04

      what does afrikaners have to do with anything? where the objective is success, everyone (black, white and coloured) is stripped of all sense and sensibility.

  • bongohead.sipho - 2012-11-22 13:36

    Well done to all of them. No corruption or bribery at all. Is the government listning

  • len.murozvi - 2012-11-22 14:22

    Leon, what are you smoking. Where did Ramaphosa earn his billions?

  • selma.botha.9 - 2012-11-28 10:48

    NASPERS is making waves - will be bought by the Chinese or Americans.

  • selma.botha.9 - 2012-11-28 10:57

    Dankie vir Mnet en DSTV. Geniet die lietsjies.

  • Andile Nobhula Nomlala - 2013-04-18 16:39

    Kuyatyiwa apha phandle silibele yindlala nje thina..... this is serious eating.....irrespective of where one got the food but the bottom line they are eating even if its on our

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