Africa’s 3 richest people hold more wealth than half the continent’s combined population

Talk about wealth inequality – Africa’s top three wealthiest people combined have more wealth than around 650-million people on the continent.

It is scary to think that Africa is rapidly becoming the epicentre of global poverty with 413-million people surviving on less than $1.90 a day.  It is estimated that by 2030, should the current trend continue, Africa will hold 87% of the world’s extremely poor.

The bottom 50% of Africa’s population hold $22.98-billion, while according to Forbes 2019 billionaire list, Nigeria’s Aliko Dangote has $16.2-billion, South Africa’s Nicky Oppenheimer has $7.1-billion and Johann Rupert has $7-billion, resulting in approximately $30,83-billion combined wealth.

With 20 billionaires in Africa, it is said that the richest 0.0001% own 40% of the continent’s entire wealth.

If asked Johann Rupert will help President Cyril Ramaphosa

While speaking to investigative journalist Pieter du Toit for his Stellenbosch Mafia book, South Africa’s second richest man voiced concerns about the future of South Africa and said that should President Cyril Ramaphosa ask, he would assist with economic reform.

In a report by the Executive Director of Oxfam International, Winnie Byanyima, she said Africa will only rise once it’s leaders have the courage to back an economy which caters to the masses rather than to the few super-rich.

Rupert could soon take the lead as SA’s wealthiest billionaire

South Africa’s two richest men both have investment portfolios and property but  rumours are that the luxury watchmaker owner, Rupert could soon be taking first place as South Africa’s richest billionaire with the heir of the De Beers mining fortune will drop down to second place.

In January Rupert’s net worth and businesses were valued at $5,8-billion, however, as at Tuesday, October 1, his net worth was $6.82-billion (R103,8-billion), hot on the tail of Nicky Oppenheimer who was valued at $6.93-billion (R105.5-billion).

Rupert has however suggested that he might not remain in the country due to the negative perception he and his family have received after being portrayed as the face of the white monopoly capital, as well as the threat that David Mabuza could become president.

The newest member of SA’s dollar-billionaire club

Following the top two leaders in the ‘club’ are Patrice Motsepe who is the owner of Mamelodi Sundowns and is valued at around $2,3-billion, and the chairman of Nasperes and owner of Babylonstoren Estate in Stellenbosch, Koos Bekker who in January was estimated at a worth of $2,4-billion.

The newest member is Michiel le Roux who founded Capitec Bank in 2001 and owns 11% in the business was recently valued at $1,2-billion.