Amid financial scarcity and growing gap between the rich and the poor, a new rich South African billionaire has been given birth to, his name is Jannie Mouton, according to Forbes billionaire list 2017.
Mouton, who is the founder and chairman of PSG Group, was named by Forbes as one of South Africa’s newest billionaire in the annual Billionaire List for 2017.
PSG is an investment holding company with investments in a wide variety of sectors, including financial services, banking, private equity, agriculture and education.
The leading fianncial investment group regulated by the Guernsey Financial Services with close to 200 offices throughout South Africa and two in Windhoek.
The group, according to Businesstech, has a 30.7% stake in the hugely successful Capitec Bank, with a majority shareholding in private education group, Curro (56.4%) – two companies which have recorded outstanding performances over the past few years.
The new mogul, Jannie Mouton known as the “Boere Buffett” for his successes on the stock market, founded PSG Group in 1995 and has seen it grow into one of the country’s biggest business success stories.
Forbes said his success came after he was fired by his partners at a stockbroking firm he co-founded, Senekal, Mouton & Kitshoff. He started PSG Group, and has now turned it into a R61.8 billion family business.
Today, he joins as one of the rich individuals in South Africa. He was listed alongside seven other South Africans on the dollar billionaires.
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Following Forbes billionaire list 2017, Nicky Oppenheimer, heir of the Oppenheimer diamond legacy, is ranked the richest man in South Africa.
Oppenheimer moved to the top place ahead of retail investor, Christo Wiese, who held the title in 2016’s official ranking.
Wiese has slipped to the third place of the richest in the country having seen his net worth drop from $7 billion in 2016, to $5.6 billion in 2017. Johann Rupert is ranked second, with a net worth of $6.1 billion.
Meanwhile, Forbes noted that seventy-six new billionaires came from China, more than from any other country. One of them was Lucy Peng, cofounder of ecommerce giant Alibaba Group. She has an estimated 2% stake in the company’s financial services arm, Ant Financial, which raised funds at a reported $60 billion valuation last year.
The richest of the newcomer women were three American sisters – Amy Goldman Fowler, Jane Goldman and Diane Kemper- who have estimated fortunes of $3 billion each inherited their father’s stakes in Solil Management, a New York real estate firm.
The youngest of the new bunch were Irish brothers John and Patrick Collison, who cofounded Stripe, a payment processing firm. At age 26 and 28, respectively, they each have an estimated fortune of $1.1 billion thanks to their firm raising money at a $9.2 billion valuation last year, says Forbes Billionaire List 2017.
Bill Gates remains the number one on the list of richest people in the world for the fourth year in a row, and the richest person in the world for 18 out of the past 23 years. He has a fortune of $86 billion, up from $75 billion last year.
He is followed by Warren Buffett whose $14.8 billion jump in the past 12 months was enough for him to grab back the second spot.