Duduzane Zuma’s net worth has been so much of a talking point among South Africans for a very long time now. Although he is estimated to be worth over $15 million, some feel he probably has more because of all the businesses he has been involved in over the years, while others believe he is probably miles away from reaching such a lofty net worth since he only rose in the shadows of his father, who has a net worth of $20 million.
Although he has first gained fame as the son of former South African president Jacob Zuma, Duduzane is now a businessman who has been linked to close to 10 businesses, including some in the country and others in the United Arab Emirates. While many of the businesses are said to be his, others were claimed to be owned by the Gupta family. From the controversy he has courted through the years to how he made his wealth, and even his involvement in philanthropic gestures, here’s a look at Duduzane Zuma’s net worth and how it came about.
Quick Profile of Duduzane Zuma
- Date of birth: 1984
- Parents: Jacob Zuma and Kate Mantsho
- Profession: Businessman
- Net Worth: $15 million
- Education: University of Pretoria
Duduzane Zuma’s Net Worth Is Much, But He is Below His Father
As stated, the younger Zuma has a net worth estimated at $15 million, which still places him at $5 million below his father, who boasts $20 million.
While the younger Zuma’s fortune was built through his businesses, some of which were controversial, his father’s fortune has been through his involvement in politics, which has enabled him to rise to become the number one citizen of the country, after he was once the number 2 citizen.
Jacob Zuma is also into various businesses. Like his son, some of his businesses have not been free of controversies that continue to trail him, even after leaving office.
He Accrued His Wealth Through His Many Businesses
The young Duduzane Zuma made a bigger part of his net worth from the many businesses he has been involved in through the years, as previously stated. The University of Pretoria graduate has been in the mining business for a very long time, and that is one of the major things that has made him a rich man.
The young man, who once described himself as a businessman in his rights, was involved in various black economic empowerment deals. He used to have stakes in many South African companies, including ArcelorMittal SA and several other companies owned by the Gupta family.
In 2010, he revealed that his Mabengela Empowerment Trust was worth over R1 billion, and he was offering a share to widows and widowers, as well as orphans and those depending on police personnel that died in the line of duty.
Duduzane Has Also Been Involved In A Controversial Business Deal With The Guptas
His name was previously mentioned in some of the companies owned by the controversial Guptas, such as Shiva Uranium Ltd, a mining company that was put up for sale in 2019, and then Oakbay Group. He was claimed to have received shares from different companies for free and rose to the ranks of a senior executive in a manner that was not clear.
According to Jacob Zuma, his son’s business relationship with the controversial family was not out of the ordinary, as they only came through for him when he was looking for an IT firm for his internship. On the contrary, there was an assertion that the rise of Duduzane did not start until his father won ANC’s 2007 Polokwane convention. The very next year, he became a director at Mabengela investment and was offered many shares.
Less than three years later, he rose to occupy positions in more than 10 other companies belonging to the family, with shares across the companies. Following the dust that his involvement with the Guptas raised in 2016, he decided to leave some of the companies, including Oakbay Group, a conglomerate of various companies majorly controlled by the family.
He has made millions from the companies, including R100 million in 2016, while his shares rose significantly until he left the company.
He Has Business Dealings in The UAE
Even after he severed ties with the Gupta brothers, the young and promising Zuma claimed that his accounts were frozen in the country as investigations continued over his past deals with the family. He said it was tough for him to continue his business in the country, which was why he decided to move over to the United Arab Emirates and set up his business in Dubai.
Before moving to Dubai, he had already bought an apartment at the iconic skyscraper Burj Khalifa building. He was said to have paid close to R18 million for the property, which is about 175.40 square meters; the apartment was allegedly bought with the Gupta family’s help before leaving the company.
On the exact nature of the business he does in the UAE, the former president’s son has refused to give any information, continuing to keep people speculating. However, what is now clear is that he is doing well for himself in the UAE.
Duduzane Zuma Has Not Revealed Any Political Plans
Considering that he was born in 1982, many expected that if the younger Zuma had an interest in active politics, he would have started showing active interest by now. However, Duduzane has not indicated that he would like to follow in the footsteps of his father.
Nonetheless, he had got people to start speculations that he might, after all, be interested in the trade of his father when in 2020, he came out all blazing in criticizing President Cyril Ramaphosa for what he described as failing to step up to give South Africa a sense of direction. The young Zuma stated that he was a provincial member of the African National Congress (ANC) and might throw himself in the rings for the 2024 national and provincial general elections. He stated that although he might get involved as everyone should be, his involvement would have to be determined by the people.
It is no secret that he has built a strong following in the country, where he is loved for many things, including being himself. The stylish former first son is the one behind the famous #DuduzaneZumaChallenge, which has generated buzz both within South Africa and in other parts of the world. On the grounds of his followership, he revealed he believes he has a good fan base in the country willing to support him.