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Top 10 Richest People in South Africa 2020

10 of the Richest People in South Africa
Hello Displorers, welcome and thanks for watching. In todays video, we will move down to the southern part of Africa to admire those who control the real papers. You know we are talking about money right, hence we will be looking at the top 10 richest people in south Africa.
Looking at the many names that have made the Forbes List of the world’s wealthiest people, it is quite clear that South Africa is the home of many rich people. According to a Mail & Guardian article about the widening gap between the rich and the poor in the country, “two-thirds of South Africa’s wealth is held by the top 1%, and about 90% is held by the top 10%.” The publication further reported that the number of billionaires in Africa has risen from 8 billionaires in 2010 to 25 billionaires in 2017. It’s been said that finding South Africa’s richest people is tricky as some of these millionaires and billionaires have made their fortune overseas hence, they sometimes go unnoticed in these millionaire/billionaire lists. But dear displorers, you know curious individuals like us were bound to sort them out with time. There is a recently updated list that has incorporated data from internationally reliable sources such as Forbes, UK’s Sunday Times Rich List and Entrepreneur Mag that has given us a detailed list of South Africa’s billionaires.
Given how much wealth fluctuates especially invested wealth stay turned to the end of the video to see who lost their position at the top and who takes their spot.
The following forbes list of south African billionaires is based on annual assessment of wealth and assets compiled and published by forbes magazine as of the time this video was made.

10. Paul Harris (Approximately R3.4 billion)
Within a short time after the Rand Consolidated investments was founded, Paul Harris became a part of it. Later in the year 1992 he held the position of its CEO just when the Rand Merchant Bank and RCI merged together. Then he became as CEO in the year 1992 and again in the year 1998 after it got merged with the very first National Bank that became FirstRand. From the year 2005 to 2009 Harris became the CEO of FirstRand group. He also converted Ellerman House in the suburbs of Cape Town to one of the finest luxurious and elegant boutique hotels in South Africa. In addition to all his works he also lately began providing lectures on business and entrepreneurship at the Stellenbosch University. His total net worth is estimated at R3.4 billion.

9. Stephen Saad (Approximately R14.7 billion)
Stephen Saad is the brainchild behind Aspen Pharmacare and is among the richest people in South Africa. Back in the year 1997, he was holding a total net worth of around R14.7 billion. Later in the age of 29, he became a millionaire. Saad became the head and chief executive of the Aspen’s board. Later he received the honor of getting awarded as the award of Entrepreneur of the year back in the year 2016 among various other awards that he bagged throughout his financial career. One more interesting thing about Stephen Saad is he also served as chairman of rugby team of The Sharks in Durban, back in the year 2012.
8. Christo Wiese (Approximately R15.1 billion)
The famous South African business and one of the richest in South Africa, Christo Wiese is noted for having a total net worth of R15.1 billion. A large part of his wealth is available from consumer retail as the main source. Guided by the leadership of Christo Wiese, Shoprite began expanding as total chain of eight supermarkets in Cape Town Then the supermarket brand also became multi-billion dollar business after it got sold for a total value of R1 million because of its diversification across South Africa. Upon turning into franchise brand Shoprite gradually expanded strategically all around across major towns in South Africa and also in various countries of the African continent.
7. Michiel le Roux (Approximately R16.5 billion)