Top 10 Richest Black Men In South Africa 2020

A list of the current richest black Men in South Africa. South Africa is a combination of whites and blacks. At the end of the country’s nightmare of the past, peaceful coexistence was established between blacks and whites and since then, South Africa has welcomed immense contributions from significant sectors including mining and telecommunications.

So, Who Is The Richest Black Man In South Africa? 

Undoubtedly, the wealthiest South African is a white man but this doesn’t mean black South Africans have lagged behind or failed to climber on the country’s wealth ladder. To substantiate the fact that a pretty amount of black South Africans make up the country’s wealth ladder.


1. Patrice Motsepe

    • Net Worth: R27.72 billion
    • Date of Birth: January 28th, 1962

Patrice Motsepe is the first and only black man among South Africa’s dollar billionaires. He was brought up in the South African region of Soweto. During South Africa’s era of apartheid, Patrice Motsepe encountered some business setbacks which predicted that the future might not augur well for his business. Nevertheless, Motsepe’s intense commitment to survive and his shrewd business strategies contributed to his emergence as South Africa’s first and only black billionaire.

His fame and reputation extend beyond his business bounds and this is why he is widely regarded as one of the living philanthropists in South Africa. His generosity towards the needy urged him to sign Warren Buffet and Bill Gates’ Giving Pledge. This marks a great deed of generosity, making Patrice Motsepe the first African to endorse the Giving Pledge.

Patrice Motsepe

Currently, Patrice Motsepe’s net worth is estimated at R27.72 billion and this huge wealth is mainly attributed to his role as the Executive Chairman of African Rainbow Minerals –one of the biggest mining companies in Africa. With his massive net worth, it is evident that Patrice Motsepe is South Africa’s wealthiest black man.

2. Cyril Ramaphosa

    • Net Worth: R5.67 billion
    • Date Of Birth: November 17th, 1952

The current president of South Africa, Cyril Ramaphosa commands great acclaim not only as a wealthy man but also for his reputable roles as a strategist and negotiator. He was part of the great South Africans who strove ceaselessly to ensure South Africa’s era of apartheid was abolished. His contributions as a shrewd negotiator had a hand in the peaceful manner in which apartheid was brought to a halt. Cyril Ramaphosa is a learned man who has received education from a number of universities including the University of South Africa, University of Port Elizabeth, University of Massachusetts, University of the North, and few others. With the estimated net worth of R5.67 billion, Cyril Ramaphosa –who serves under Jacob Zuma as South Africa’s Deputy President –is the second richest black man in South Africa.

3. Tokyo Sexwale

    • Net Worth: R2.14 billion
    • Date Of Birth: March 5th, 1953

Tokyo Sexwale is a prominent black South African who has contributed immensely to South Africa’s private and public sectors. In previous times, he served as the Minister of Human Settlements and even a political prisoner. Some people see Tokyo Sexwale as a serious-minded businessman but from a broader perspective, he is regarded as an anti-apartheid activist cum politician. He is one of the South Africans who graduated from the University of Swaziland. Also, he received education from other universities including UK-based University of Nottingham and the University of Botswana. Currently, he serves in Mvelaphanda Holdings as the non-executive chairman and his net worth hovers around R2.14 billion.

Sipho Nkosi Among The Black Billionaires in South Africa

4. Sipho Nkosi

    • Net Worth: R1.7 billion
    • Date Of Birth: June 13th, 1981

Sipho Nkosi is an experienced South African to partner within the country’s business line. He is largely seen as a prominent figure in the mining sector with over 20 years of service. Over and above that, he is a learned personality who graduated from US-based Massachusetts University with an MBA degree. At the moment, Sipho Nkosi serves as the president of a mining company –Chamber of Mines South Africa –with the estimated net worth of R1.7 billion.

5. Phuthuma Nhleko

    • Net Worth: R Billion
    • Date Of Birth: April 7th, 1960

Phuthuma merits appearance on this list for having transformed MTN’s great mission to strengthen the objectives of black economic empowerment. Phuthuma is a notable black South African who graduated from US-based Ohio State University with a B Sc degree in Civil Engineering. He has served in various giant companies but his most reputable position was working as MTN’s CEO. At the moment, Phuthuma Nhleko holds high positions in a number of companies but the most notable of this is his role as a co-founder and chairman of Worldwide African Invest.

6. Vincent Mntambo

    • Net Worth: R1.01 billion
    • Date Of Birth: 1959

Vincent Mnthambo is one of the black South Africans who has made their marks in the business sphere. He graduated from UK-based Yale University and currently serves as the chairperson of ASG Consulting Solutions. Besides this, Vincent Mnthambo has held reputable positions in top companies such as Independent Mediation Services of South Africa (where he served as Executive Director), Commission for Conciliation Mediation (where he served as Non-Executive Chair) and Aveng (where he served as Non-Executive Director). Currently, his net worth is estimated at R1.01 billion.

7. Leonard Sowazi

    • Net Worth: R726 million
    • Date Of Birth: April 1963

Leonard Sowazi merits the appearance on this list of richest black South Africans for having participated in top sectors including finance, infrastructure, and mining. Meanwhile, he is best known for his high-profile role as an investment manager with more than 15-years of experience. Besides being the chairman of Kagiso Tiso Holdings, Leonard Sowazi is a board member of several reputable South African companies and his net worth is presently valued at R726 million.

8. Mike Teke

    • Net Worth: R682 million
    • Date Of Birth: August 15th, 1964

While he was a youth, Mike Teke had no parents to cater for his needs. Consequently, his grandmother filled the void left by his parents and brought him up in a motherly manner. Mike Teke received great advice from his grandmother and always makes it known that her words had a hand in his success. Currently, he serves at Optimum Coal Holdings as the CEO with the net worth of R682 million.

9. Saki Macozoma

    • Net Worth: R565 million
    • Date Of Birth: May 12th, 1957

With the net worth of R565 million, Saki Macozoma Among The Richest Man In South Africa, he serves in Safika Holdings as the Non-Executive Chairman and he is considered one of the prominent black South Africans in the business sector. He graduated from the duo of US-based Boston University and the University of South Africa. To a vast number of South Africans, Macozoma is an epitome of diligence and morality who earned great acclaim for his struggles during South Africa’s era of apartheid.

10. Dalikhaya Zihlangu

    • Net Worth: R533 million

Dalikhaya spent ample time to learn the ins and outs of mining. Having acquired the great expertise of mining, he persisted in the mining business with vigorous activities on the mines. Fortunately, this yielded him huge wealth which distinguishes him as one of the richest black millionaires in South Africa. At the moment, he is a top member and director of Exxaro Resources with the estimated net worth of R533 million.

That’s all on the Top 10 Richest Black Men In South Africa.


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