Before becoming the President of South Africa, Cyril Ramaphosa was a formidable businessman, whose wealth and influence grew significantly from his early days as a labor leader to one of the wealthiest individuals in the country. His financial success is a result of strategic business decisions, investments, and ownership in key sectors of the economy.
From Political Activist to Business Mogul
Born in Soweto in 1952, Ramaphosa’s political career began during the anti-apartheid movement, where he gained national attention as the Secretary-General of the National Union of Mineworkers.
His role in negotiating an end to apartheid and leading the transition to democracy set the stage for his future. However, his true financial success came after the end of apartheid.
In the 1990s, Ramaphosa began investing heavily in businesses across various sectors. He co-founded Shanduka Group, a diversified investment holding company with interests in mining, telecommunications, and energy. In particular, his investments in McDonald’s South Africa and MTN Group proved to be incredibly lucrative.
Cyril Ramaphosa’s Net Worth Today
As of 2024, Cyril Ramaphosa’s estimated net worth is $450 million (approximately R8.3 billion). While a significant portion of his wealth was earned through his investments in Gauteng, the province that includes Johannesburg, his portfolio has expanded internationally, with interests in other African countries and abroad. Ramaphosa’s financial achievements, combined with his role as the country’s president, have made him a prominent figure in South Africa’s political and business landscape.
His wealth also comes from his extensive property holdings.
In Johannesburg, where he resides, he owns several high-value properties, and his luxury home in Waterkloof is often featured in the media. Despite his fortune, Ramaphosa is also known for his philanthropic work, focusing on education, poverty alleviation, and business empowerment.
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