South Africa's Billionaires List Revealed
South Africans were stunned by the list of top 10 billionaires in the country, featuring Patrice Motsepe and President Cyril Ramaphosa as the least wealthy.
President Ramaphosa's net worth is estimated at R7.75 billion, primarily due to his business career before becoming president.
- He founded the Shanduka Group, an investment holding company, after leaving politics in the mid-90s.
- Through the company, he built stakes in several major South African and multinational companies.
- The Phala Phala Game Farm is also a significant contributor to Ramaphosa's wealth.
President Cyril Ramaphosa's billionaire status comes mainly from his business career before becoming president.
Author's summary: SA billionaires list features Ramaphosa as least wealthy.