Gerrit Thomas (GT) Ferreiraby Viv 24/09/2012 13:16:00 0 comments 3067 Views
Net Worth: $460 Million, Source: Banking, Insurance
Citizenship: South Africa , Age: 63
GT Ferreira, the chair of financial services company RMB Holdings, was one of the three founders of Rand Consolidated Investments in 1977; it later became Rand Merchant Bank. In 1998 it took joint control with mining giant Anglo American of the FirstRand Group, which became the holding company for First Rand Bank, Rand Merchant Bank, and insurance companies Momentum and Southern Life. In 2010 RMB Holdings, the vehicle through which the founders held their investment in the group, unbundled its insurance interests into publicly traded Rand Merchant Insurance Holding (RMI), leaving RMBH with a sole interest of 34% in FirstRand. Much of Ferreira's spare cash has been spent on his Tokara vineyard and winemaker. He says wine is all about ROE, or "return on ego" rather than on equity. Tokara has nonetheless been a success with the critics, winning gold medals every year in the decade since it started to produce wine under its own label.