Cyril Ramaphosa

by 24/09/2012 13:40:00 0 comments 7591 Views
Cyril Ramaphosa

Net Worth: $275 Million, Source: Investments

Citizenship: South Africa , Age: 59

Former union activist, lawyer and politician Cyril Ramaphosa created the Shanduka Group in 2000 as an African black owned investment holding group, and is now one of South Africa's leading businessmen. Shanduka's investments include stakes in mining company Assore, trading company Bidvest, Standard Bank, and a joint venture with CocaCola called CocaCola Shanduka, plus holdings in real estate, insurance and telecom.

Ramaphosa owns slightly more than 30% of the privately held group through a family trust. He first came to prominence in the 1980s as founder and promoter of the National Union of Mineworkers, created to improve the rights of black African workers. In 1991, at age 39, he was elected secretary general of the African National Congress and was the main negotiator with the National Party during the transition to democracy. After less than three years in parliament Ramaphosa resigned in 1997, first joining New Africa Investments and then starting the Shanduka Group. His wife Tshepo is the sister of fellow South African tycoon Patrice Motsepe.