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How to spend a R6.5 billion Fortune: 7 expensive things owned by Cyril Ramaphosa

With a net worth of over R6.5 billion, Cyril Ramaphosa is without doubt one of the richest businessmen in South Africa. A look at what he spends his massive fortune on.

Businessman and politician Matamela Cyril Ramaphosa, 68, is from South Africa. He has been the ANC's president since 2017 and the country's fifth president since 2018.

Ramaphosa had already developed a stellar political career dating back to the late 1970s and 1980s before foraying into business.

Notable was his crucial contribution to the 1982 founding of NUM, South Africa's first black mine workers union.

In 1997, after losing the election to Thabo Mbeki for the presidency of South Africa, Ramaphosa stepped down from his political roles and was appointed a director of New Africa Investments Limited.

He founded the Shanduka Group in 2001, an investment holding firm with interests mostly in the mining industry.

Before entering politics again more than ten years later, Ramaphosa had already amassed a sizable wealth through his business ventures.

His estimated net worth as of 2021 is $450 million (R6.5 billion). He has at various points been listed as one of the top 10 wealthiest South Africans.

He uses his billions in the following ways.

Shanduka Group (Resigned) ─ R13 billion

Despite his resignation and subsequent sale of his 30% stake in Shanduka in 2016, the investment groups deserve a mention because that is where he made the most of his money.

Ramaphosa withdrew from the majority of his commercial holdings after being named deputy president in 2014 in order to prevent conflict. Among them was the Shanduka Group.

The organization amalgamated with Pembani Group after Ramaphosa's resignation to create the "Pan African Industrial Holdings Group," which has assets worth $900 million (R13 billion)

Game Farming─ R120 million

Ramaphosa first became interested in the Ankole cattle breed while traveling to Uganda in 2004. Ramaphosa is currently South Africa's largest Ankole grower.

Ankole are raised on the president's 5,100-hectare Ntaba Nyoni farm near the village of eManzana, where they frequently sell for top dollar at auction.

For instance, 10 of Ramaphosa's cattle sold for a total of R2.7 million at an auction earlier this year.

The nominal worth of a debt against the game farm was revealed by Ramaphosa to be over R120 million in 2017 at the Joint Committee on Ethics in parliament.

Cattle Farming─ R6 million

Ramaphosa owns a feedlot at the same land worth about R6 million in addition to breeding the Ankole at his Ntaba Nyoni farm.

Cape Town mansions

-Fresnaye mansion

A Cyril Ramaphosa-owned Fresnaye property was among the rentals that went on the market along Cape Town's Atlantic coastline, according to a TimesLive report from late last year.

The stunning mansion's asking price of R175 000 per month was staggering.

-Lion's Head

Ramaphosa also has a mansion in Cape Town's elite Lions Head mountain, in addition to the one mentioned above.

On two parcels of property that he purchased for R30 million back in 2010, the home is located. This unique mansion's construction took more than three years, from 2015 to 2018.

McDonald’s Restaurants (Dis-invested)

The 145 McDonald's restaurants in South Africa are all operated under a 20-year master franchise agreement that Ramaphosa paid for in 2011.

Ramaphosa declared shortly after the 2014 general election that he will withdraw his investment from Shanduka in order to execute his new duties as Deputy President without the risk of a conflict of interest.

Real Estate portfolio

Ramaphosa has a sizable real estate portfolio that is primarily made up of residential properties, primarily in Johannesburg and Cape Town, in addition to his mansion in Cape Town.

Several of the properties Ramaphosa proclaimed (Source: Businessinsider.co.za)


Ramaphosa actually reported ownership of 31 properties in 2017.


Sources:

https://www.businessinsider.co.za/president-ramaphosa-ankole-cattle-sold-for-r27-million-with-bull-mufasa-voted-best-2021-5

https://businesstech.co.za/news/government/249799/all-the-shares-properties-businesses-and-gifts-declared-by-ramaphosa-maimane-and-malema/

https://www.businesslive.co.za/rdm/politics/2017-02-22-ramaphosa-declares-ownership-of-31-properties/

https://www.forbes.com/profile/cyril-ramaphosa/?sh=28c7e4b6124f

https://www.timeslive.co.za/sunday-times/lifestyle/home-and-gardening/2020-12-27-got-r175k-ramaphosas-fresnaye-mansion-may-be-the-perfect-rental-for-you/

https://www.businessinsider.co.za/cyril-ramaphosa-r30-million-mansion-2018-2

https://www.2oceansvibe.com/2018/02/23/photos-of-cyril-ramaphosas-monster-mansion-in-fresnaye/


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