Julius Malema’s net worth is estimated at $3 million (R55 million). The EFF leader owns over four cars which include two Ranger Rovers, a Mercedes C63 AMG, and a Mercedes Benz Viano minibus.
Malema has been in politics since the age of nine, when he joined the African National Congress (ANC). He served as the party’s Youth League president from 2008 to 2012 and was paid monthly for the position. Also, he has been a member of the parliament since 2014. Besides his political career earnings, Julius Malema’s net worth has been boosted by the side ventures.
How Much is Julius Malema’s Net Worth?
Julius Malema is said to have a net worth of $3 million (R55 million). He is one of the top politicians in South Africa and has held many positions throughout his political career. While still a member of the ANC, he was the National President of the Congress of South African Students from 1999 to 2002. He later served as ANC Youth League Limpopo Provincial Secretary from 2003 to 2008.
Shortly after, Julius Malema became the President of the African National Congress Youth League. And according to the information he gave to the South African Revenue Service, he earned about R50,000 monthly during such time. He carried out the role for four years (2008-2012) and built his total wealth with his earnings.
Following his expulsion from ANC in April 2012, Malema continued to strive in the political sphere and eventually founded his own political party, the Economic Freedom Fighters (EFF). He is currently serving as the president and commander-in-chief of the political party. He assumed the role on July 26th, 2013, and how much he is being paid as a founding member of the EFF, which ranks as one of the top political parties in South Africa, is yet to be made public.
Julius Malema Earns R1.3 Million Per Annum as an MP
Following successful elections, Julius Malema assumed office as a member of the National Assembly on May 21st, 2014. He has been representing the Limpopo Constituency to date. As a member of parliament, Malema reportedly earns a little over R100,000 as a monthly salary, and it accumulates to R1.3 million annually.
Over the years, he has been appointed to many positions at the National Assembly, including:
- Member of Constitutional Review Committee (joint committee)
- Member of Committee for Section 194 Enquiry (Ad Hoc Committees)
- Member of Ethics and Members’ Interests (joint committees)
- Member of Portfolio Committee on Justice and Correctional Services (National Assembly Committees)
Malema Allegedly Co-owns an Engineering Company
During Malema’s trial for corruption, fraud, racketeering, and money laundering, investigations were carried into his business deals. And it was discovered that he co-owned an engineering company known as On-Point Engineering with Lesiba Gwangwa. His business partner is described as an engineer and a close friend of his.
According to News24, Julius Malema has an indirect shareholding in the company through the Ratanang Family Trust, which belongs to his family, and is named after his first son, Ratanang Malema. Also, Malema is said to be a stakeholder in Guilder Group, owned by Lesiba Gwangwa. Interestingly, the Guilder Group owned 100% of On-Point Engineering at the time.
While Julius Malema was being probed, it was additionally discovered that On-Point Engineering was in charge of the bid evaluation committee, which selected people to be awarded department tenders. Surprisingly, in the year 2009, the engineering company was awarded an R50 million tender by the Limpopo Department of Roads and Transport to cater for a project management unit for the department.
In addition to occupying an executive position at On-Point, Julius Malema has worked as the director of several companies such as:
- SGL Engineering Projects
- Blue Nightingale Trading 61
- Ever Roaring Investments
- 101 Junjus Trading CC
Julius Malema’s Cars
It’s no secret that Julius Malema has an exquisite taste when it comes to cars. Little wonder he owns mostly exotic cars. The former ANCYL president owns two Ranger Rovers, a Mercedes Benz Viano minibus, and a Mercedes Benz C63 AMG. Also, he is reported to have Aston Martin in his car collection.
While cruising in expensive rides, Malema ensures that a few of his close friends experience such luxury and comfort. Hence, in November 2021, he purchased an R1.8 million Mercedes Benz GLE Coupe SUV and gifted it to AbaThembu King Buyelekhaya. He apparently has a soft spot for Mercedes-Benz products, as he already owns two.
Mercedes Benz C63 AMG (R1 million+)
With a retail price of over R1 million, the Mercedes Benz C63 AMG is a high-performance sedan car owned by Malema. He was first spotted with the car in the late 2000s. And the sports sedan is one of the variants of Mercedes’ luxury C-class sedan.
- Twin-turbo 4.0 liter V-8 engine
- Rear wheel drive
- Automatic climate control
- 7-speed automatic transmission
- Child safety rear door locks
Mercedes Benz Viano Minibus (R900,000+)
In August 2011, Malema’s business partner, Lesiba Gwangwa, purchased a black Mercedes Benz Viano minibus at almost R1 million and gave it to him as a gift. The car is also maintained by him.
- Fuel type: Diesel
- V-4 engine type
- Five seating capacity
- Automatic transmission
- Fuel tank capacity: 70 liters
Range Rover Sport (R1.2 million)
Julius Malema owns two Range Rover cars. In April 2010, he was involved in a car crash with the first car, which had serious damage. After some months, he was presented with a brand new Range Rover Sport worth R1.2 million by Matome Hlabioa – MPPJ Property Development boss. The car registration was done in MPPJ’s name.
- SUV body type
- V-6 engine type
- Top speed: 234 kmph
- Acceleration: 0-100 kmph in 5.9 seconds
- LED tail lamps
Aston Martin (R2 million+)
In 2010, Julius Malema was reported to have an Aston Martin in his car collection. The luxurious vehicle has a starting retail price of R2 million. Among its amazing features is a convertible body type.
- Anti-lock braking system
- Power steering
- Twin-turbocharged V-8 engine
- Top speed: 300 kmph
- Two-zone automatic climate control
Does Julius Malema Have a House?
It’s still uncertain whether Julius Malema owns a house in SA, as he has maintained that his current place of residence is a rental. He lives in a multi-million rand mansion located in the suburb of Hyde Park in Johannesburg. Malema claims that the house rent is paid by his wife, Mantwa, from her pocket and family wealth.
The house rent for rentals in the leafy suburb area range from R10,500 to over R50,000. With Malema having an affiliation with Adriano Mazzotti – the owner of the four houses in the high-security estate, it’s speculated that he might actually be the owner of the house.
The EFF Leader Lost Two of His Houses in 2013
Malema suffered a huge loss in the year 2013 as his two houses, a farm, and household goods were auctioned off by the South African Revenue Service in an attempt to recoup the R16 million he owed in tax debt at that time. He purchased a home in Sandton in 2009 for R3.6 million.
After the purchase, he flattened the former structure and started building from scratch, and the estimated construction cost was between R7 million and R16 million. Unfortunately, the half-built house was sold for R5.9 million to a mysterious millionaire businessman during an auction. As suspicion was raised about the unknown buyer, Julius Malema denied having any kind of relationship with him.
More so, his second house, which was located in Polokwane, was sold by the revenue service for R1.4 million to town planner Emmanuel Makhokha in July 2013. Meanwhile, Malema’s farm, known as Schuiikraal Farm in Limpopo, was also auctioned in the previous month and fetched R2.5 million.
Julius Malema’s Lavish Lifestyle is Allegedly Sponsored
While being probed for corruption and money laundering, it was uncovered that Julius Malema’s extravagant lifestyle was being sponsored by his close friend and business partner, Lesiba Gwangwa. It was also alleged that the money Gwangwa was spending on the South African politician was allegedly coming from Limpopo’s public coffers.
In 2019, News24 listed all the purported benefits Julius Malema had received from Gwangwa in the past years, and they include the following:
- Payment for Julius Malema’s bodyguards from February 2011
- Full usage of a petrol card registered to On-Point by the EFF leader and his bodyguards
- Payment for the construction costs of Malema’s Sandton mansion as of February 2011
- Purchase of Ford Focus and Polo Vivo used by Malema’s bodyguards in Polokwane and Johannesburg, respectively
- Payment of salaries of Malema’s housekeeper and gardener
- Chartering a private jet for Julius Malema in July 2011 at the cost of R88,000
- Payment for holiday accommodation in Zimbali and other accommodation costs for various other travels
- Purchase of designer clothing valued at R100,000 for Malema at a boutique store, Vigano
- Payment of Schuilkraal Farms’ electricity bill
- Purchase of furniture valued at R135,000 for Malema’s home in January 2011
- Purchase of new tires for Julius Malema’s Mercedes Benz C63 AMG on October 17th, 2011
- Renting of vehicles from Badiredi Travel for Malema’s bodyguards as and when needed