What is South African businessman Cyril Ramaphosa Net Worth?

Cyril Ramaphosa Net Worth: South African businessman and politician Matamela Cyril Ramaphosa (born 17 November 1952) has served as head of the African National Congress (ANC) since 18 December 2017 and as president of South Africa since 18 February 2018. The former anti-apartheid activist, trade union leader, and successful businessman, Cyril Ramaphosa, has held the positions of secretary general to ANC president Nelson Mandela, deputy president to President Jacob Zuma and chairman of the National Planning Commission between the years 2014 and 2018.

As the ANC’s top negotiator, Ramaphosa oversaw South Africa’s peaceful transition to democracy. Ramaphosa strengthened the National Organization of Mineworkers, the largest and most influential labor union in the country (NUM).

In the discussions that led to the peaceful end of apartheid and the country’s first fully democratic elections in April 1994, he played a vital role alongside Roelf Meyer of the National Party. Nelson Mandela endorsed Cyril Ramaphosa as South Africa’s next president. Starting in 1997, Ramaphosa established himself as a successful businessman, serving on the boards of McDonald’s South Africa, MTN, and Lonmin.

Cyril Ramaphosa Net Worth

A politician in South Africa, Cyril Ramaphosa has a net worth of $450 million. He became wealthy as the head of the investment firm Shanduka Group, but he is better recognized as the President of South Africa. In the past, Shanduka had a wide range of expertise before being acquired by a rival company. This included mining, finance, Coca-Cola bottling plants, and even McDonald’s franchises. He has often been listed as one of the top 10 wealthiest people in South Africa.

Cyril Ramaphosa entered this world in 1952, in Soweto, Transvaal Province, South Africa. He identifies with the African National Congress as a political organization. From March 1991 to December 1997, Ramaphosa was the African National Congress’ Secretary General.

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He was the Vice President of the African National Congress from December 2012 till December 2017. From May 2014 to February 2018, Cyril Ramaphosa was South Africa’s 7th Deputy President. In December 2017, he was elected president of the African National Congress.

In February 2018, Cyril Ramaphosa took office as the 5th President of South Africa, and in February 2020, he will assume the role of Chairperson of the African Union. He established the National Union of Mineworkers as South Africa’s preeminent labor organization.

Ramaphosa’s Early Life

Cyril Ramaphosa Early Life
Cyril Ramaphosa Early Life

Ramaphosa was born to Venda’s parents on November 17th, 1952, in the Soweto neighborhood of Johannesburg.

He is the middle child of Erdmuth and the former police officer, Samuel Ramaphosa. Educated in Soweto, he went to Tshilidzi Primary School and then Sekano Ntoane High School. He graduated from Mphaphuli High School in 1971 and was elected president of the Student Christian Movement at the school in Sibasa, Venda. In 1972, he enrolled at the University of the North (Turfloop) in Limpopo Province to pursue a law degree.

Ramaphosa’s Labor Activism

Ramaphosa joined the Council of Unions of South Africa (CUSA) as a legal advisor after he completed his legal education and earned his degree. CUSA asked Ramaphosa to organize a union for mine workers in 1982, and he did so under the name National Union of Mineworkers (NUM). The local court in Namakgale had outlawed the gathering from which Ramaphosa was arrested, so he was apprehended in Lebowa on suspicion of organizing or planning to participate in the meeting.

CUSA decided to create the National Union of Mineworkers (NUM) in August 1982, and by December of the same year, Ramaphosa had been elected as its first secretary. Ramaphosa was the driving force behind the Congress of the South African Trade Union, which he helped organize (COSATU). At Cosatu’s December 1985 opening rally in Durban, he spoke as the rally’s main speaker. In March of 1986, he was a part of the COSATU team that traveled to Lusaka, Zambia, to meet with the African National Congress.

Ramaphosa’s Careers in Business

Cyril Ramaphosa Career
Cyril Ramaphosa Career

Ramaphosa stepped away from politics and into business, where he has found a supportive climate thanks to the country’s new Black Economic Empowerment (BEE) legislation. Among his many roles, he served as executive chairman of the firm he co-founded, Shanduka Group, which has holdings in mineral resources, energy, real estate, banking, insurance, and telecommunications (SEACOM).

More than R20 billion had been invested in Shanduka by the Tshivhase Trust, which is controlled by the Ramaphosa family, by 2014. From March 2007 onward, Ramaphosa presided over the worldwide paper and packaging conglomerate Mondi, where he had previously served as chairman of rival companies Bidvest and MTN.

In addition to Standard Bank, Anglo American, and Macsteel Holdings, he served as a non-executive director for Alexander Forbes, SABMiller, Lonmin and Standard Bank. Ramaphosa acquired a 20-year master franchise agreement to manage 145 McDonald’s locations in South Africa in 2011. Both the Unilever Africa Advisory Council and the Coca-Cola Company International Advisory Board counted him as a member.

Circumstances of one’s own existence

Ramaphosa has a son from his marriage to Hope Ramaphosa, which lasted from 1978 to 1989; he was also married to the late businesswoman Nomazizi Mtshotshisa, who passed away in 1993. He married Dr. Tshepo Motsepe, sister of South African mining magnate Patrice Motsepe, in 1996. It is speculated that he is the father of five kids.

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At the base of Lion’s Head in Cape Town sits his mansion, one of thirty he owns. His fortune was estimated to be R6.4 billion ($450 million) by Investing.com in 2018. He is a man of many languages, and his speeches are often delivered in a number of different South African tongues.

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