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Wage Slaves in a Different League

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Wage Slaves in a Different League Business Business, 16-Sep-2012-Page 1, Cyan Business, 16-Sep-2012- Page 1, Magenta Business, 16-Sep-2012-Page 1, Yellow Business, 16-Sep-2012- Page 1, Black B-1 JDCP | *KIEAII6EAI 5-26-*-4 $ *751-55 *)+ Sunday Times Rich still in pound seats 5K @=O 6EAI 4E?D EIJ IDMI & CHMJD E MA=JD )) )4)15 TOP MONEY-SPINNERS Wage slaves in a HE wealth of South Africa’s 20 richest peo- 6 ple, worth R134-billion different league altogether, rose a mere 8% over the past year as the sluggish global economy 1 2415 weighed heavily on steel and TOP EARNERS mining share prices. *02 *EEJ ’I JA= B E E C Patrice Motsepe, heading the ANA?KJELAI MAHA JDA >EC A=H Rich List for the second year AHI =IJ OA=H =?? H@E C J JDA running, steel magnate Laksh- 4E?D EIJ >A=JE C 1 LAIJA?’I mi Mittal, ranking third, and > IIAI MD =HA HA M A@ B H mining heir Nicky Oppen- A=H E C A H KI > KIAI heimer in fourth place were . KH *02 *EEJ >ECMECI the big losers in the top 20. MAHA = C JDA J F The exception in the top four A=H AHI E 5 KJD )BHE?= MEJD was second-ranked retail *02 FAJH AK +-) *E?D=A mogul Christo Wiese, who got ;A=CAH J FFE C JDA EIJ >O a lot richer. CAJJE C 4" 'EE E JDA Motsepe, worth R20.07-bil- BE = ?E= OA=H R115 -million lion, had to contend with his 6DA E E C CE= J’I +-) Michael Yeager fortune shrinking 13%. Mittal’s *=HEKI 0 FFAHI M=I E JDA R13-billion stake in ArcelorMit- K>AH JDHAA F IEJE MEJD tal was 38% lower than last J J= HAK AH=JE B 4&& ' year. Oppenheimer’s 2.3% stake EE in Anglo American, worth R9- . H > JD A IJ B JDAEH billion, was 19% lower. A=H E CI ?=A BH ANAH?EI Despite their investments on R15 -billion E C ID=HA FJE I ;A=CAH A the JSE taking a hammering, Christo Wiese 2 OA@ ID=HA C=E I B 4' E these three were still worth E = FAHB H= ?A > KI B more than a third of the com- => KJ 4EE = @ = bined wealth of the top 20. I==HO B 2KIJ LAH 4'EE Each of the top 20 is worth 0 FFAHI M=I F=E@ 4# "& more than R2-billion. The top EE E I==HO HA?AELA@ = 30 are all worth more than R1- FAHB H= ?A > KI B 4% R90 -million billion, based on disclosed in- EE = @ CA AH=JA@ 4"' " Grant Pattison vestments in JSE-listed compa- EE BH ID=HA C=E I nies at the end of March. )KJC E C *02 *EEJ ?DEAB BE = ?E= BBE?AH )AN They are all 8= IA M C J 4 $ " & E E =7E C DE JDA BEBJDDECDAIJ probably a lot richer A=H AH *02 *EEJ BAHH KI = @ ? = +-) *=H?KI 4= as the valuations do @ FD M=I E JD =BJAH CAJJE C 4#! #!EE B H JDA OA=H not include unlisted =I =E O CA AH=JA@ BH ID=HAFHE?A C=E I investments, 1 O 0 FFAHI BH R89-million JDA *02 *EEJ JA= M=I property or cash ? K JA@ =I A B 5 KJD Marius Kloppers )BHE?=’I J F A=H AHI 1 LAIJA? ANA?KJELAI M = 7A @ )KIJH=E= E?7A =IIAJI They are all probably a lot =M=O MEJD DKCA FAHB H= ?A 1 LAIJA?’I > =H@ ?KJ 0 IABB’I richer as valuations do not R13 -billion > KIAI ? FA I=JE >O &% =BJAH EJI include unlisted investments, R20-billion ... Patrice Motsepe Lakshmi Mittal 6DHAA B JDA >= 7’IA NA ? K FH BEJ @H FFA@ = @ HAJKH I DEJ property or cash. JELAI MAHA E ?K@A@ E JDA J F = HA? H@ M @KHE C EJI Oppenheimer, who sold the A=H AHI 1 LAIJA? )IIAJ BE = ?E= OA=H 0 IABB 0= J H f a m i ly ’s 40% stake in De Beers *= =CAA J +-) 0A @HE7 @K = @ *KHCAH ME J HA?AELA to Anglo late last year, is esti- ments worth R208-million. FirstRand-related entities. 22nd, and his colleague Zweli 6 EJ A=@I JDA JA= =I JDA FAHB H= ?A > KIAI E JDA mated by Forbes to be worth A handful of billionaires — Wiese, who holds stakes in Mntambo, worth R1.1-billion, is ? K JH O’I IENJDDECDAIJ A=H AH BE = ?E= OA=H $6.8-billion (R57.7-billion), mak- the Ruperts, Oppenheimers Shoprite, Brait, PSG, Invicta ranked 30th. =BJAH DA HA?AELA@ = FAHB H 5D FHEJA +-) 9DEJAO *=I ing him the 139th-richest per- and manganese heir Des Sac- Holdings and Tradehold, Saki Macozoma ranks 39th = ?A > KI B 4"% #EE I MD M=I JDA >AIJ F=E@ son in the world and the rich- co, who has a stake in Assore enjoyed 42% growth in his list- with investments worth R634- = @ A=H A@ = J J= B 4#% % JDA EIJ HA?AELA@ JDA est South African. — inherited family empires. ed investments to R15-billion. million. Lazarus Zim is 68th EE >ECCAIJ I==HO AN?K@E C ID=HA Forbes puts Motsepe’s For others, notably Motsepe The taxman should be with investments worth R419.6- 1 LAIJA? +-) 5JAFDA C=E I H > KIAI =IJ OA=H =J wealth at $2.7-billion, ranking and Cyril Ramaphosa, black pleased. Wiese, who was found million in Sanlam and 0 IABB MD M=I ?HEJE?EIA@ B H 4! EE 0 MALAH DA M=I him fourth in South Africa economic empowerment legis- carrying £674 920 in cash at Northam Platinum. >AE C DA=LEO LAHF=E@ MDEA O JDA JDDECDAIJ A=H AH behind Oppenheimer, Johann lation opened a few doors. London City Airport in 2009, al- Robert Gumede ranks 82nd JDA >= 7 M=I JDA M HIJ FAH E Rupert and family, whose The Royal Bafokeng Consor- legedly faces an outstanding with his Gijima stake worth B HAH E JDA ? K JHO J 7 6DA JM J F A =J *=II wealth is estimated at $3.1-bil- tium, with stakes in c o mp a n i e s tax bill from the South African R334.4-million. D A = FAHB H= ?A > KI B =HJ =@A EJ J 5 KJD lion, and Wiese, who is worth like Vodacom and Rand Mer- Revenue Service of R2-billion. Human Settlements M i n i st e r 4!& #EE @KHE C )BHE?=’I J F A=H AHI EIJ B H an estimated $3.1-billion. chant Bank Holdings, ranked Ninth-ranked Stephen Saad’s Tokyo Sexwale is not included = @ DEI J J= HAK AH=JE JDA BEHIJ JEA *=II=HJ +-) India-born Mittal, who lives fifth, with assets valued at fortune from Aspen Pharma- in this year’s ranking as his ?=A J 4## #EE 1 /H= J 2=JJEI M=I IA? @ in London, has a global steel nearly R8.2-billion, built on the care grew 51% to R6.4-billion. listed investments were moved LAIJA? *, *AH =H@ 0= J H = @ ?DEAB FAH=JE C BBE?AH empire worth an estimated foundations of its p l at i n u m - His colleague Gus Attridge to blind trusts when he was = @ BE = ?E= @EHA?J H /O /KO 0=OM=H@ B KHJD 6DAEH $20.7-billion, ranking him 21st rich land in the North West. ranked 21st and is worth near- appointed to the cabinet in *KHCAH MAHA =I =M=H@A@ F=?7=CAI MAHA =E O BH on Forbes’s list of billionaires. While fortunes of some bil- ly R2.2-billion. The duo started 2009. His worth was put at > KIAI B HA JD= 4! ID=HAFHE?A C=E I The Sunday Times Rich List lionaires dwindled over the Aspen in 1997, building a multi- R1.95-billion on the 2010 Rich EE 6DA 4E?D EIJ HAIA=H?D shows most of South Africa’s past year, many more of them billion-dollar business in just List, which would have placed 0 MALAH = @EBBE?KJ ID MI JD=J HA JD= % richest people are self-made have reason to pop some vin- 15 years. him 23rd on this year’s list. JH=@E C OA=H ME FKJ = A @ J FA FA F ?7AJA@ E AN?AII B men. Sixteen of the top 20 are tage Dom Perignon. Ramaphosa also had a prof- The only new entrant to this >EC ANA?KJELA > KIAI MEJD 4EE A=?D =IJ OA=H entrepreneurs who built their Media magnate Koos itable year — his worth ye a r ’s top 20 is UK business- J F = =CAA J B > JD *02 * HA JD= " FA FA A=H A@ empires after spotting a gap in Bekker, CEO of Naspers, saw jumped 39% to R3.1-billion. man John Whittaker, whose *EEJ = @ 1 LAIJA? B HBAEJE C HA JD= 4#EE the market. his fortune jump 117% to R3.7- This includes his investments 20% stake in Capital Shopping JDAEH > KIAI B H JDA BEI ,AIFEJA JDA A? E? Jannie Mouton, known as billion, placing him in 14th in Assore, Bidvest, Mondi, Centres Group (CSC), formerly ?= OA=H @ M JKH ' B JDA J F the “Boere Buffett” after US position. MTN, SABMiller and Standard known as Liberty Internation- 1 JDA BE = ?E= OA=H A=H AHI HA?AELA@ DABJO FAHB H investment guru Warren Buf- Laurie Dippenaar, GT Bank, which totalled R3.1-bil- al, is worth R6.9-billion.
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