How SA's richest could help us all

06 December 2015 - 02:00 By LUTHO MTONGANA

South Africa has 52 billionaires whose combined wealth of R334-billion could solve several of the country's money problems. Think of Eskom's R237-billion deficit and the #FeesMustFall higher education funding shortfall of R2.3-billion. Even if they covered the basic and higher education budget of R265-billion, these super-rich individuals would each be left with a cool R1.4-billion.story_article_left1Topping the Sunday Times Rich List this year is businessman Christo Wiese, whose investment holdings wealth has ballooned by almost 200% over the past year to R104.8-billion.Second place goes to Glencore's Ivan Glasenberg with R24.9-billion, down from R61.4-billion last year.Intu Properties' John Whittaker manoeuvres into third spot with R23.4-billion, followed by Aspen's Stephen Saad at R17.3-billion and Bruno Steinhoff at R16.4-billion.Discovery's Adrian Gore came in at No12 with R7.2-billion and mining mogul Patrice Motsepe came in 18th with R3.8-billion - down from last year's R11.8-billion. Motsepe is two notches above Johann Rupert, who has R3.5-billion.Shoprite's Whitey Basson is ranked 35th with R1.2-billion and trade unionists-turned-businessmen Marcel Golding and John Copelyn came in at 44 and 45 respectively with R1.1-billion each.story_article_right2While not yet in the exclusive billionaires' club, Sharon Wapnick, who has R665-million, and Woolworths Holdings' Zyda Rylands, with R331-million, cracked the overall Rich List at 74 and 118 respectively.Many of the rich do give to the needy. Motsepe helps to address the educational needs of the poor through the Motsepe Foundation.Chris Gilmour, an analyst at Absa Investments, said: "Individuals ... do a lot [but] the private sector is driven by the profit motive."Asked if the rich could help solve some of the country's money crises, He said: "Just throwing money ... isn't necessarily going to [help]."mtonganal@sundaytimes.co.za..

There’s never been a more important time to support independent media.

From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.

For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.

Already subscribed? Sign in below.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.