All of South Africa’s dollar-billionaires have climbed the world’s richest list in 2024—and almost every single one of them studied a law degree. As of August 2024, South Africa’s elite group of billionaires continues to dominate the country’s wealth landscape. Leading the charge is luxury goods titan Johann Rupert, whose net worth has soared to $12 billion (R214 billion).
Rupert, chairman of Swiss-based Richemont, the luxury conglomerate behind iconic brands like Cartier, Dunhill, and Montblanc, holds a commanding 51% voting power in the company. He also chairs Stellenbosch-based Remgro, an investment holding company with interests spanning healthcare, food, sports, and media. Rupert remains South Africa’s richest individual and is currently the wealthiest person in Africa, with Nigeria’s Aliko Dangote trailing by four spots and $100 million (R1.
7 billion). Rupert climbed 21 places on the world’s richest list to secure the 174th spot, making him the only South African in the top 200 wealthiest people worldwide. Former diamond magnate Nicky Oppenheimer has also made strides, increasing his global rank by 23 places to land at 282, with a fortune of $9.
5 billion (R169 billion). His legacy in the diamond industry continues to shine, and he is one of the world’s top 300 billionaires. Meanwhile, Patrice Motsepe, Africa’s first black billionaire, has crossed the $3 billion (R53 billion) threshold, propelled by the growth of TymeBank, which now serves 12.
4 million customers across South Africa and the Philippines. His 40.37% stake in African Rainbow Minerals (ARM) also contributed to his wealth, placing him at 1,139 on the global billionaire ranking.
Media mogul Koos Bekker, Capitec founder Michiel Le Roux, and retail tycoon Christoffel Wiese have seen significant boosts in their net worth and rankings. Collectively, they have jumped 966 spots, solidifying their positions in the global billionaire club. South Africa’s wealthiest individuals share more than just their billionaire status—many also pursued similar academic paths, with a particular fondness for law degrees.
Of the country’s six billionaires, four attended the prestigious Stellenbosch University in the Western Cape, suggesting this institution played a key role in shaping some of South Africa’s top financial minds. Leading the pack is Johann Rupert, the luxury goods tycoon and chairman of Compagnie Financière Richemont, whose fortune exceeds $11 billion (approximately R202 billion). Rupert initially enrolled in a degree in Economics and Company Law at Stellenbosch University but left before completing his studies to dive into the world of business.
His contributions to the global luxury market earned him an honorary doctorate in Economics from Stellenbosch in 2004, followed by another in Commerce from Nelson Mandela Metropolitan University in 2008. To top it off, Scotland’s University of St. Andrews awarded him an honorary Doctor of Laws.
Mining mogul Nicky Oppenheimer, former chairman of De Beers Consolidated Mines, studied Philosophy, Politics, and Economics at the University of Oxford. With a net worth of $9.5 billion (approximately R174.
5 billion), Oppenheimer’s academic and professional achievements were further recognised when the University of Johannesburg awarded him a Doctorate in Technology in 2003. Patrice Motsepe, founder and chairman of African Rainbow Minerals, pursued a Bachelor of Law at the University of the Witwatersrand after earning a Bachelor of Arts from the University of Swaziland. His diverse mining interests have pushed his net worth to $2.
9 billion (about R53.3 billion). Koos Bekker, former CEO of Naspers, studied Literature and Law at Stellenbosch before obtaining his MBA from Columbia University in the U.
S., while Capitec Bank co-founder Michiel Le Roux and retail giant Christoffel Wiese, both Stellenbosch alumni, have also made their marks in business and banking. This impressive list of academic credentials and ventures reflects the intellectual foundations that helped build these billion-dollar empires.
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