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South Africa’s Richest Black Businessmen

richest black south african businessmen

In Post Apartheid South Africa there has been a tremendous rise of successful black businessmen, some of which have pass the billionaire mark, yes the USD billionaire mark! Forbes has been taking notice of some of them, listing them in their annual rich list. Here are some of the richest black people in South Africa.

Number 1 on that list is Patrice Motsepe who has steadily held that spot for a number of years now. He is currently $1.59 billion according to Forbes. His vast wealth is primarily from his mining business ventures.

Cyril Ramaphosa is South Africa’s Deputy President and is one of the contenders of becoming South Africa’s President after Jacob Zuma’s term expires. Forbes lists his net wealth around the $450 – 500 million mark. He has a number of investments through his Shanduka Group that includes McDonald’s franchises, mining among others.

Tokyo Sexwale is one of the wealthiest black businessman in the country and has a number of investments that cross through a number of sectors. He is listed by Forbes to be around the $200 – 250 million mark and is currently the chairman of Mvelaphanda Group. He is reported to have purchased a $70 million private island in 2013.

 Sipho Nkosi is CEO of Exxaro Resources which is a diversified group with interests in mining and energy markets. His 2.7% stake in the company is reportedly worth around $180 – 210 million.