These are the richest businessmen in South Africa

The Sunday Times has published its rich-list for 2016, showing that South Africa has 53 billionaires – led by Christo Wiese who is worth R81.3 billion.

Wiese holds on to his crown despite a poor year which has seen a drop in the market value of Steinhoff Holdings, of which he is chairman, and Brait SE, in which he has a 34.63% stake.

Overall, Wiese saw his wealth decline by R23.5-billion, from R104.8 billion a year ago, according to the paper.

The richlist was compiled by Who Owns Whom, which extracted the shareholdings of  company executives, using market prices reflected on November 30, 2016.

Ivan Glasenburg, the chief executive of Glencore, is ranked second – boosted by a recovery in the commodities sector. Glencore has seen its share price climb more than 200% in 2016.

Aspen Pharamacare’s Stephen Saad is third on the list, while controversial businessman, Atul Gupta, is seventh.

Top 10 wealthiest businessmen in SA:

#	Billionaire	Main Company	Share holding	Total fortune
1	Christo Wiese	Brait SE	34.63%	R81.2 billion
2	Ivan Glasenberg	Glencore	8.31%	R60 billion
3	Stephen Saad	Aspen Pharmacare	12.13%	R16 billion
4	John Whittaker	Intu Properties	24.83%	R15.9 billion
5	Laurie Dippenaar	First Rand/RMB	1.87%	R12.9 billion
6	Bruno Steinhoff	Steinhoff	4.54%	R12.6 billion
7	Atul Gupta	Oakbay Resources	64%	R10.7 billion
8	Rupert family	Remgro	100%	R10.6 billion
9	Jannie Mouton	PSG Group	21.75%	R9.8 billion
10	Koos Bekker	Naspers	1.07%	R9.6 billion

Patrice Motsepe is 11th on the list, having seen his wealth grow to R9.6 billion, from R3.8 billion in 2015, thanks to a 40.73% holding in African Rainbow Minerals in a year which has seen a recovery in the resources sector.

Johann Rupert dropped to 22nd on the list due to Compagnie Financiere Richemont SA’s struggles in Europe. Rupert serves as the chairman of the Swiss luxury goods firm.