Cyril Ramaphosa is a renowned South African politician, businessman, and philanthropist. He has been the President of South Africa since 2018 and is a prominent figure in the African National Congress (ANC). However, many people are curious about how Cyril Ramaphosa made his fortune.
Cyril Ramaphosa was born on 17 November 1952 in Soweto, South Africa. He grew up in a humble background and attended local schools before enrolling at the University of South Africa, where he studied law. After graduation, Ramaphosa worked as a clerk for a Johannesburg law firm before moving on to become a legal advisor for the National Union of Mineworkers (NUM).
It was during his tenure as a legal advisor that Ramaphosa first gained prominence. The NUM was at the forefront of the anti-apartheid struggle, and Ramaphosa was instrumental in negotiating better working conditions for miners. He quickly rose through the ranks of the union and eventually became its Secretary-General in 1982.
Ramaphosa’s success in the labor movement led to his involvement in the negotiations that led to the end of apartheid. He was one of the key negotiators in the transition from white minority rule to a democratic government in the early 1990s.
After the fall of apartheid, Ramaphosa entered politics and was elected to the South African parliament. He served as the chairman of the Constitutional Assembly, which drafted the country’s new constitution. Ramaphosa was also the deputy president of the ANC, the ruling party in South Africa.
While Ramaphosa’s political career was taking off, he was also making a name for himself in business. In 1997, he founded the Shanduka Group, a black-owned investment company that focused on mining, energy, and telecommunications. The company was hugely successful, and by 2011, it had grown to become one of the largest black-owned companies in South Africa.
Ramaphosa’s success in business continued with his involvement in the MTN Group, a multinational telecommunications company based in South Africa. Ramaphosa joined the board of MTN in 2001 and served as its chairman from 2002 to 2005. During his tenure, the company grew rapidly and expanded its operations to other parts of Africa and the Middle East.
In addition to his involvement in business and politics, Ramaphosa is also known for his philanthropic work. He is the founder of the Cyril Ramaphosa Foundation, which focuses on education, healthcare, and youth development in South Africa. The foundation has supported numerous initiatives aimed at improving the lives of disadvantaged South Africans.
In 2018, Cyril Ramaphosa was elected as the President of South Africa, following the resignation of Jacob Zuma. His presidency has been marked by a focus on economic growth and job creation, as well as efforts to combat corruption in government and the private sector.
While Cyril Ramaphosa’s wealth is difficult to estimate, it is widely believed to be in the region of $500 million. His success in business has undoubtedly played a significant role in his wealth accumulation. However, it is worth noting that his wealth is also due in part to his extensive political and social networks.
Some have criticized Ramaphosa for his wealth, arguing that it is incompatible with his status as a champion of the poor and marginalized in South Africa. However, others point out that his success in business has given him the platform to make a positive impact on the country and its people.
In conclusion, Cyril Ramaphosa is one of South Africa’s most prominent and successful politicians, businessmen, and philanthropists. He has made his fortune through a combination of his involvement in the labor movement, his success in business, and his extensive political and social networks. While his wealth