2 December 2013

South Africa: SA's Richest Continue to Get Richer - Report

The collective wealth of the 20 richest people in South Africa grew by 8.6 percent compared to last year, the Sunday Times reported.

The mining and manufacturing sectors suffered, while retail, health and media sectors gained in value.

Shoprite magnate Christo Wiese toppled mining businessman Patrice Motsepe as the most wealthy South African.

His assets were deemed close to R27.5 billion at the end of March, compared to a wealth of R15.2 billion at the same time last year.

Last year's third place holder Lakshmi Mittal took a plunge down six places and was replaced by Aspen Pharmacare boss Stephen Saad.

Fourth place went to Assore mining company's Desmond Sacco and the Rembrandt Trust - connected to the Rupert family - came in at fifth place.

ANC deputy president Cyril Ramaphosa came in at number 19 on the list with stakes listed in Bidvest, Mondi, MTN, SABMiller and the Standard Bank Group.

Former national director of public prosecutions Bulelani Ngcuka was placed 137 on the list, former ANC treasurer-general Mathews Phosa was placed at 210 and former environmental and tourism minister Valli Moosa was placed at 236.

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