South Africa Rand Billionaire Numbers Rise, Business Times Says

The number of people with shareholdings in publicly traded South African companies worth more than 1 billion rand ($145 million) rose to 31 this year, up from 16 individuals in 2009, as markets rebounded, a study commissioned by the Business Times newspaper shows.

ArcelorMittal SA Chairman Lakshmi Mittal’s share of the steelmaker’s South African unit was worth 21.5 billion rand at the end of March, placing him at the top of the country’s super- wealthy list, according to the study carried out by research organization Who Owns Whom.

Patrice Motsepe, the chairman of African Rainbow Minerals Ltd., ranked second, with listed shares worth 19.9 billion rand, while Nicky Oppenheimer, the chairman of diamond company De Beers, was third with stakes worth 10.7 million rand, the Johannesburg-based Business Times cited the study as saying.

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net.

To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

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