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27 Of The Richest People In South Africa

Here are 27 of South Africa’s richest people, but how did they achieve this level of wealth? Find out here.

Nicole Crampton

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Giovanni Ravazzotti

italtile

  • Net worth: R4.73 billion
  • Age: 73
  • Industry: Furniture Retailing
  • Source of wealth: Self-made

Giovanni Ravazzotti, an immigrant to Johannesburg from Italy, saw a gap in the market in 1969 for affordable tiles and ceramic products in an increasingly urban South Africa. He began importing and retailing them through a company he founded, Italtile.

Ten years later, with the first hints that there would be trade sanctions against South Africa, he pivoted his business and began manufacturing ceramic tiles domestically.

In 1992, his retail company Italtile and manufacturer Ceramic Industries were listed on the Johannesburg Stock Exchange.

Related: 15 Ways To Save Now So You’re Rich Later

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Nicole Crampton is an online writer for Entrepreneur Magazine. She has studied a BA Journalism at Monash South Africa. Nicole has also completed several courses in writing and online marketing.

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