South Africa’s economy continues to be shaped by a handful of influential families whose wealth has been built and sustained over generations. These families have been instrumental in driving key industries such as mining, finance, retail, and media, skillfully using their resources to preserve and expand their fortunes. Their wealth reflects their business expertise and their capacity to adapt and thrive in a dynamic global market. This list of the top 10 richest South African families in 2024 showcases those who remain at the forefront of the nation’s economic landscape, blending historical legacies with contemporary achievements.
1. The Rupert Family
The Rupert family is one of South Africa’s wealthiest and most influential families, with a legacy deeply intertwined with the country’s business landscape. The family’s fortune was built by Anton Rupert, who founded the tobacco company “Voorbrand,” which later became Rembrandt Group (Remgro) in 1948. Over the years, the Rupert family diversified their interests, establishing themselves as leaders in various industries, including luxury goods, finance, and industrial operations.
Achievements
Anton Rupert’s vision and entrepreneurial spirit laid the foundation for the family’s vast empire. He expanded the Rembrandt Group into a conglomerate with interests in tobacco, wine, and spirits, and later luxury goods through the establishment of Richemont, a holding company that owns prestigious brands such as Cartier, Montblanc, and Dunhill. The Ruperts are also known for their contributions to conservation and philanthropy, particularly in the fields of education, environmental preservation, and social development in South Africa.
Business Ventures
The Rupert family’s extensive business portfolio includes significant holdings in luxury goods, banking, and investment sectors. Richemont, the Swiss-based luxury goods conglomerate, is perhaps the crown jewel of the family’s enterprises, making them key players in the global luxury market. Additionally, they have interests in banking through their stake in the Swiss private bank Rothschild & Co, as well as investments in South African businesses via Remgro, which has stakes in various industries including healthcare, food, and energy.
Net Worth
As of 2024, the Rupert family’s net worth is estimated to be around $9 billion. Their wealth continues to grow, driven by their diversified business interests and their leadership in the global luxury market. The family’s ability to adapt to changing economic landscapes and their strategic investments ensure their continued prominence in both South African and international business circles.
2.The Oppenheimer Family
The Oppenheimer family is one of South Africa’s most prominent and influential dynasties, with a history deeply rooted in the diamond and mining industry. The family’s wealth and influence can be traced back to Sir Ernest Oppenheimer, who founded Anglo American Corporation in 1917 and later took control of De Beers, the world’s largest diamond company. Over the decades, the Oppenheimers became synonymous with the global diamond trade, playing a pivotal role in shaping the industry.
Achievements
Under the leadership of Ernest Oppenheimer and his successors, including his son Harry Oppenheimer and later his grandson Nicky Oppenheimer, the family built a vast empire that dominated the diamond and gold mining sectors. Their stewardship of De Beers helped establish and maintain a global diamond cartel, controlling a significant portion of the world’s diamond production. The Oppenheimers were also known for their philanthropy, contributing to various educational, environmental, and social causes in South Africa and beyond.
Business Ventures
In addition to their mining interests, the Oppenheimers have diversified their investments over the years. They sold their stake in De Beers to Anglo American in 2012 for $5.1 billion, marking a significant shift in their business strategy. The family has since invested in various sectors, including private equity, venture capital, and conservation projects. Nicky Oppenheimer, the current patriarch, has focused on sustainable agriculture through the family’s Tswalu Kalahari Reserve, the largest private game reserve in South Africa.
Net Worth
As of 2024, the Oppenheimer family’s net worth is estimated to be around $8 billion, making them one of the wealthiest families in South Africa and maintaining their status as significant players in the global business landscape. Their legacy in the diamond industry and their strategic investments in other sectors ensure their continued influence and prosperity.
3. The Motsepe Family
The Motsepe family is one of South Africa’s most prominent and wealthy families, led by billionaire Patrice Motsepe. Patrice Motsepe made history as South Africa’s first Black billionaire, a testament to his entrepreneurial success and significant impact on the country’s economy. The family’s wealth was primarily built through mining, a sector that has long been central to South Africa’s economy.
Achievements
Patrice Motsepe founded African Rainbow Minerals (ARM) in 1997, a diversified mining company with interests in gold, platinum, coal, iron, and other minerals. His business acumen and strategic investments quickly propelled ARM to become a major player in the mining industry. Motsepe’s success has earned him numerous accolades, including being named South Africa’s Business Leader of the Year and one of the 100 Greatest Living Business Minds by Forbes.
Beyond business, the Motsepe family is also known for their philanthropy. In 2013, Patrice Motsepe and his wife, Dr. Precious Moloi-Motsepe, joined The Giving Pledge, committing to donate at least half of their wealth to charitable causes. The Motsepe Foundation, established by the family, focuses on education, health, and social development in South Africa, making significant contributions to improving the lives of disadvantaged communities.
Business Ventures
The Motsepe family’s business interests are diverse, with ARM being the cornerstone of their wealth. Additionally, they have investments in financial services through African Rainbow Capital (ARC), a private equity firm with stakes in various sectors, including telecommunications, insurance, and agriculture. Dr. Precious Moloi-Motsepe, a renowned businesswoman and philanthropist in her own right, also plays a crucial role in the family’s business and philanthropic activities, particularly in the fashion and healthcare industries.
Net Worth
As of 2024, the Motsepe family’s net worth is estimated to be around $3 billion. Their wealth continues to grow, driven by their mining ventures and strategic investments across various sectors. The Motsepe family’s influence extends beyond business, as they are also key figures in philanthropy and social development in South Africa.
4. The Bekker Family
The Bekker family is associated with one of South Africa’s most influential business figures, Koos Bekker. Koos Bekker is known for his transformative leadership of Naspers, a global consumer internet company that has its roots in South Africa. His strategic vision and entrepreneurial spirit have significantly contributed to the Bekker family’s wealth and influence in the media and technology sectors.
Achievements
Koos Bekker’s most notable achievement is his role in transforming Naspers from a local media company into a global technology giant. Under his leadership as CEO, Naspers made a groundbreaking investment in Tencent, the Chinese tech conglomerate, in 2001. This investment is often cited as one of the most successful in corporate history, as it led to exponential growth in Naspers’ value and established the company as a major global player in the tech industry.
In addition to Tencent, Naspers broadened its portfolio by investing in a range of global internet companies, including OLX, Mail.ru, and others. Bekker’s strategic choices not only boosted the company’s market value but also cemented his standing as one of South Africa’s most successful business leaders.
Business Ventures
The Bekker family’s wealth is primarily tied to their stake in Naspers, which has diversified interests across media, technology, and e-commerce. Koos Bekker played a critical role in steering Naspers into the digital age, with investments in some of the most prominent internet and media companies globally. Even after stepping down as CEO, Bekker remained influential, serving as chairman of the board and continuing to shape the company’s strategic direction.
Net Worth
As of 2024, the Bekker family’s net worth is estimated to be around $2.5 billion. This wealth is largely derived from their holdings in Naspers, which remains one of the most valuable companies in Africa. The Bekker family’s fortune is a testament to their strategic foresight and ability to capitalize on emerging global opportunities, making them one of South Africa’s wealthiest and most respected families.
5. The Wiese Family
The Wiese family is one of South Africa’s most prominent and wealthy families, known for their extensive influence in the retail sector. The family’s patriarch, Christo Wiese, is a self-made billionaire who built his fortune through various business ventures, particularly in retail. Christo Wiese was born in 1941 in Upington, South Africa. He studied law at Stellenbosch University before moving into business. Wiese’s career took off when he became involved with Pepkor, a discount clothing retailer, where he eventually became the controlling shareholder.
Achievements
Under Wiese’s leadership, Pepkor grew into one of Africa’s largest retail companies. The family expanded their business interests by acquiring and controlling other major retail brands, including Shoprite, Africa’s largest supermarket chain, and the luxury goods retailer, Brait SE. Wiese was also instrumental in the acquisition of UK-based New Look and the Virgin Active health clubs, further diversifying the family’s business portfolio.
Business Ventures
The Wiese family’s business empire is primarily centered on retail, but they have also invested in real estate, agriculture, and financial services. The family’s key assets include significant stakes in Shoprite, Pepkor, and Brait SE. Despite facing challenges, including the Steinhoff International scandal, where Wiese lost billions, the family remains one of the wealthiest in South Africa.
Net Worth
As of 2024, the Wiese family’s net worth is estimated to be around $1.3 billion. Despite financial setbacks, they continue to hold substantial assets and maintain a significant presence in South Africa’s business landscape.
6. The Moti Family
The Moti family is a prominent South African business family known for their significant presence in the automotive and transport industries. The Moti family, originally from the Indian community in South Africa, has established a substantial business empire over the years. Their success story is marked by their entrepreneurial spirit and strategic investments.
Achievements
The family’s business journey began with Moti Group, a leading player in the automotive sector. They expanded their influence into various sectors, including logistics, real estate, and investment. The Moti Group’s success in the automotive industry, particularly in vehicle distribution and sales, has been a cornerstone of the family’s wealth. They are also known for their philanthropic efforts and contributions to various charitable causes in South Africa.
Business Ventures
The Moti family controls several key businesses under the Moti Group, including interests in automotive distribution, vehicle servicing, and logistics. Their investments extend to real estate development and other sectors, reflecting a diversified portfolio. The family’s business operations are focused on both national and international markets, contributing to their substantial wealth.
Net Worth
As of 2024, the Moti family’s net worth is estimated to be around $750 million. Their wealth is attributed to their successful ventures in the automotive and logistics industries, as well as their strategic investments in real estate and other sectors. The family continues to be influential in South Africa’s business landscape, with ongoing expansion and development.
7. The Sacco Family
The Sacco family is a notable South African family recognized for their substantial contributions to various industries, including finance, real estate, and manufacturing. The Sacco family, originally involved in local businesses, gained prominence through their diversified investment strategies and successful ventures across multiple sectors. Their rise to prominence in the South African business community is a testament to their strategic foresight and entrepreneurial spirit.
Achievements
The family’s notable achievements include establishing a strong presence in the financial sector, with investments in banking and financial services. They have also made significant strides in real estate, with major developments in both residential and commercial properties. The Saccos are known for their contributions to economic development and their role in various philanthropic activities, supporting education, health, and community development projects.
Business Ventures
The Sacco family operates a diverse range of businesses. Their financial services include investments in banking institutions and asset management firms. In real estate, they have developed a portfolio of high-value properties and commercial spaces. Additionally, they have investments in manufacturing and other sectors, demonstrating their business versatility and strategic growth.
Net Worth
As of 2024, the Sacco family’s net worth is estimated to be approximately $600 million. Their wealth is derived from their successful investments and business operations in finance, real estate, and manufacturing. The family’s ongoing investments and strategic growth continue to solidify their position among South Africa’s wealthiest families.
8. The Ramaphosa Family
The Ramaphosa family is well-known in South Africa for its significant contributions to both the political and business arenas. Cyril Ramaphosa, the most prominent member of the family, is a seasoned politician and businessman. Born in Soweto, Johannesburg, Ramaphosa rose to prominence as a key figure in the anti-apartheid movement and has since held various influential positions, including President of South Africa. His family’s influence extends through his successful business career and public service.
Achievements
Cyril Ramaphosa played a crucial role in the anti-apartheid movement, first leading the South African Students’ Organisation and later as a prominent trade union leader. He was instrumental in the transition from apartheid to democracy, serving as the chief negotiator for the ANC. Elected Deputy President of South Africa in 2014, he became President in 2018. Ramaphosa has built a diverse investment portfolio through the Ramaphosa Foundation and Cyrus Investments, focusing on sectors such as mining, real estate, and agriculture. He also founded the Cyril Ramaphosa Foundation, which supports initiatives in education, health, and socio-economic development across South Africa.
The Ramaphosa family’s investments span mining, real estate, and hospitality, reflecting their significant impact on South Africa’s economy. Through Cyril Ramaphosa’s leadership and the foundation, the family has contributed to various social and educational programs, enhancing opportunities for underprivileged communities. Their public service contributions, especially through Cyril’s presidency, have shaped South Africa’s political and economic landscape. Overall, the Ramaphosa family’s achievements highlight their considerable influence in both business and public service, marking them as key figures in South Africa’s contemporary history.
Business Ventures
Cyril Ramaphosa’s charitable foundation supports educational and socio-economic initiatives across South Africa. The Ramaphosa family has interests in various sectors, including mining, real estate, and hospitality. Founded by Cyril Ramaphosa, this investment company holds shares in several prominent South African firms.
Net Worth
As of 2024, Cyril Ramaphosa’s net worth is estimated to be approximately $450 million. His wealth stems from his successful business ventures and investments in addition to his salary and earnings from his political career. The Ramaphosa family’s financial standing is a reflection of their diverse business interests and Cyril Ramaphosa’s prominence in South African public life.
9. The Sexwale Family
The Sexwale family is renowned in South Africa for its influential roles in politics, business, and philanthropy. Tokyo Sexwale, a key figure, has played a pivotal role in South African politics and business. Born in Soweto, Tokyo Sexwale became an influential anti-apartheid activist and a prominent public figure in post-apartheid South Africa.
Achievements
Tokyo Sexwale was an active member of the ANC and held significant roles during South Africa’s transition from apartheid. He served as a member of the South African Parliament and as a Minister of Human Settlements. After his political career, Sexwale transitioned into business. He founded the Mvelaphanda Group, which invests in various sectors, including mining and finance. Tokyo has been involved in various charitable activities and public service initiatives, particularly focusing on social development and economic empowerment.
Business Ventures
Tokyo Sexwale established this diversified investment firm, which has interests in mining, property, and financial services. The family’s business interests extend to various sectors, reflecting their broad impact on South Africa’s economic landscape.
Net Worth
As of 2024, the Sexwale family’s net worth is estimated to be in the hundreds of millions of dollars, reflecting their significant business ventures and investments. Tokyo Sexwale’s wealth comes from his successful business enterprises and his influential role in South Africa’s economic and political arenas.
10. The Mkhize Family
The Mkhize family is a prominent name in South Africa, particularly recognized for their influence in politics, business, and public service. Dr. Zweli Mkhize is the most notable member of the family, having held significant roles in government and healthcare. Born in KwaZulu-Natal, Dr. Mkhize’s career spans medicine, politics, and business.
Achievements
Dr. Zweli Mkhize served as the Minister of Health from 2019 to 2021, where he played a critical role in managing South Africa’s response to the COVID-19 pandemic. He has also been involved in various leadership positions within the ANC and served as the Premier of KwaZulu-Natal from 2004 to 2011. Mkhize’s tenure as Minister of Health included significant contributions to public health policy and the management of healthcare resources during the pandemic. Beyond politics, Dr. Mkhize has been involved in several business ventures, including investments in the healthcare and education sectors.
Business Ownership
The Mkhize family has interests in various sectors, including healthcare and education, reflecting their commitment to improving social services and community development.
Net Worth
As of 2024, the Mkhize family’s net worth is estimated to be in the millions of dollars. The Mkhize family’s net worth is not publicly detailed with exact figures, but it is known to be substantial, reflecting their involvement in various sectors. Dr. Zweli Mkhize’s career in politics and business, along with the family’s investments in healthcare and education, contributes to their financial standing. Estimates suggest the family’s net worth could be in the range of several million dollars, though specific figures are not widely reported.
