We have taken a look at the five richest black South Africans, in order to see if there is anything to this perception.
As of January this year, these are the richest black South Africans.
Patrice Motsepe – $2.6 billion
Patrice Motsepe of African Rainbow Minerals is a schoolteacher turned businessman. Starting with a modest spaza shop popular with mineworkers, he has become South Africa’s first billionaire.
He earned a bachelor of the arts from the University of Swaziland, and a law degree from the University of the Witwatersrand.
He became the first black partner with the law firm Bowman Gilfillan in 1994.
In 2012 African Rainbow Minerals was the ANC’s largest benefactorat Mangaung.
In December of 2013, City Press reported that he bid R400 000 for a photograph of the ANC NEC top six members taken at the Mangaung Elective Conference, and another R700,000 for a picture of Nelson Mandela framed along with coins minted depicting the faces of past ANC presidents.