He was little known outside the borders of South Africa until his predecessor ex-President Jacob Zuma resigned from office over corruption allegations. Mr Zuma had appointed Ramaphosa as his deputy in May 2014 before he took the realms of power from his boss on 15 February 2018, a day after he had resigned. The 65-year-old leader vowed to fight corruption that was rife when Mr Zuma was President. During his campaign trail, Ramaphosa said that his “administration is irrevocably committed to fighting corruption. It will be fought without any fear, favour or prejudice”. The fight against this scourge is still on. That aside, what is the net worth of Cyril Ramaphosa?
How Ramaphosa acquired his vast wealth
The just concluded presidential elections marks another chapter in Ramaphosa illustrious political career. Aged 39, the youthful leader was elected the ruling party African National Congress secretary general and played a crucial role in the talks with the National Party during the transition to democracy. He resigned from his political seat in 1997 and went on to form Shanduka Group. He stepped down in May 2015 as Shanduka chairman when he was appointed deputy president by Zuma to avoid conflicts of interest. He sold his 30% stake in the investment vehicle.
Beneficiary Of ANC
According to on news24.com, Ramaphosa was a beneficiary of ANC empowerment deals. According to the writer of the article titled How Cyril Ramaphosa obtained his wealth, the former secretary general was to donate part of the money to ANC. Part of the article reads:
Cyril Ramaphosa was selected by the ANC to become a major beneficiary in empowerment deals. He was one of a few. These deals where aimed at creating wealth outside of the ANC formal structures. The reason was to firstly entrust selected individuals to gain access to not only substantial wealth but also to ensure that such beneficiaries would donate substantial moneys to the ANC.
The writer further claims that Ramaphosa went on to elected into various Executive and Non-Executive positions on the largest firms listed on the JSE.
Some of these companies include
Chairman
Alexander Forbes South Africa, Black Economic Empowerment Commission, Johnnic Holdings Limited, KreditInform (Pty) Limited, Sasria SOC Limited, Vancut Diamond Works
Deputy Chairman
Rebserve Holdings Limited
Executive Chairman
Millennium Consolidated Investments (Pty) Limited, Shanduka Group
Independent Director
SABMILLER PLC
Independent Non-Executive Director
CAPITAL PROPERTY FUND
Non-executive Chairman
PAN AFRICAN RESOURCES PLC, MTN GROUP LIMITED, THE BIDVEST GROUP LIMITED
Non Executive Director
Alexander Forbes Limited, ASSORE LIMITED, LONMIN PLC, STANDARD BANK GROUP LTD, THE BIDVEST GROUP LIMITED,
Vice Chairman
Commonwealth Business Council
Businesses And Shares
| No | Nature | Nominal value | Name of company |
|---|---|---|---|
| 50 | Sports cars | R50 | Puma Sports Cars |
| 100 | Game farming (loan account) | R120 735 000 | Ntaba Nyoni Estates |
| 7500 | Paper packaging | R2 729 000 | Mondi LTD |
| 100 | Cattle farming (loan account) | R6 070 450 | Ntaba Nyoni Feedlot |
Directorships And Partnerships
| Directorship/Partnership | Type of business |
|---|---|
| Ramburg Properties | Meat abattoir |
| Ntaba Nyoni Estates | Game farming |
| Ntaba Nyoni Feedlot | Cattle farming |
| Puma Sports Cars | Manufactures cars |
| Adopt-a-school Foundation | Schools (NPO) |
| Peaceway Trading | Property company |
| Mulambo Investments | Shelf company (dormant) |
| Musanda Investments | Shelf company (dormant) |
| Main Street 1000 (RF) | Tshivhase Trust |
| Tshivhase Share Dealing | Buy, holds and sells JSE shares |
| Ramburg Beef | Meat abattoir |
| Ramburg Holdings | Meat abattoir |
| Ramburg Investments | Meat abattoir |
Land And Property
| Description | Location | Extent |
|---|---|---|
| Flat | Cape Town | 75 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse (Retirement village) | Johannesburg | 130 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 60 sqm |
| Townhouse | Johannesburg | 60 sqm |
| Flat | Cape Town | 70 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 60 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 50 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
| Townhouse | Johannesburg | 120 sqm |
Trusts
| Name of trusts | Registration number | Trustee/Beneficiary | Details of Benefits |
|---|---|---|---|
| The MCR Trust | IT 1571/11 | Trustee and Beneficiary | Deferred benefit |
| Kruinpark Retirement Village Trust | IT 376/94 | Trustee and Beneficiary | Deferred benefit |
| Tshivhase Trust | IT 10769/96 | Trustee and Beneficiary | Deferred benefit |
| Cyril Ramaphosa Foundation Trust | IT 42/2003 | Trustee | None |
| Cyril Ramaphosa Education Trust | IT 13782/99 | Trustee | None |
Cyril Ramaphosa Net Worth
As of 2015, Forbes put Ramaphosa net worth at $450M Next
