News24

Mandela family rakes in millions - report

2013-04-29 09:23

Johannesburg - Former president Nelson Mandela's children and grandchildren are currently active in more than 110 companies, according to company information.

Their wealth was held in a network of at least 24 trusts established by Ismail Ayob, the family's former lawyer, Beeld reported on Monday.

Some of the trusts own several expensive properties in Johannesburg's upmarket neighbourhoods.

Makaziwe Mandela's 3 575m² house in Hyde Park, for example, is owned by the Makaziwe M Trust and, according to the latest property valuation, was worth about R13.6m.

However, it was virtually impossible to determine the full extent of the Mandela family's wealth and interests, because of the network of trusts in which the assets were held, as well as the lack of public documentation providing information.

Entrepreneurs

The most recognisable Mandela entrepreneurs were his granddaughters Zaziwe and Zamaswazi (Swati) Dlamini, who had a reality show on TV and had also launched a Mandela clothing range.

Grandson Zondwa Mandela was recently in the news because of his involvement with President Jacob Zuma's nephew Khulubuse Zuma and their association with the controversial Aurora mine.

Company information showed the Mandela children and grandchildren had, over the past two decades, been involved in about 200 companies extending over a wide range of sectors, including real estate, investments, railway engineering, minerals, medical firms, fashion, and entertainment.

Makaziwe, Mandela's eldest daughter, was an active director in 16 companies, including the South African subsidiary of the Swiss multinational food giant Nestle, a shopping centre in Kimberley, two railway engineering companies, and four companies apparently engaged in mineral exploration.

Zenani Dlamini, Mandela's other daughter and currently South Africa's ambassador to Argentina, was an active director of nine companies.

She was previously associate director of a company with Clinton Nassif, who was implicated in the murder of mining magnate Brett Kebble.

Zondwa Mandela, Khulubuse Zuma, and Zuma's lawyer Michael Hulley were co-directors in Labat Africa.

The three were at one stage directors of the Aurora mine, but Hulley had since resigned.

Nandi Mandela, Mandela's granddaughter, was a co-director in a city planning company Linda Masinga & Associates, which according to the company's website, had completed numerous municipal contracts for municipalities in KwaZulu-Natal.

According to Beeld, Nelson Mandela himself did not possess many assets registered in his own name.

The Nelson Mandela Foundation Trust in 2012 paid R2.9m to "The Founder", slightly more than the R2.8m of the previous year.

As a former president Nelson Mandela also receives a lifelong presidential pension.

Comments
  • Commentator Commentator - 2013-04-29 09:35

    The humble altruistic patriarch and his not so humble offspring..

      Patrick Buckley - 2013-04-29 09:50

      Maybe a new word has come into being: NEPOTOCRACY

      Drommedaris Voortrekker - 2013-04-29 18:58

      Very humble at accepting billions maybe trillions, How humble can you get ? South Africa - you are being led down the garden path by a corrupt few who you think are angelic "humble" beings. Awake ! Volkstaat !

      Antie Christen - 2013-04-30 08:32

      Droom lekker DOMmedaris!

      Zohan Steppingstone - 2013-04-30 11:41

      If I steal ten Rand I will be labelled a thief. Those who steal the wealth of a whole country?

  • Sbu Hobololo - 2013-04-29 09:36

    whats the problem?

      DeAndre Sosa - 2013-04-29 10:54

      Sean Wolf As if Masses didnt suffer when the other "Great leaders" were in parlaiment before 1994. It is actually better now. As if they vote something else, South Africa will be better.

      Ollie - 2013-04-29 19:23

      @DeAndre Sosa, So one must be grateful because life is simply better than apartheid, is that the standard you hold your government to!? No wonder this ANC government have a free ride! I see you quoted Sean Wolf as saying "Great leaders" from where did you find this quote?

  • Seanred - 2013-04-29 09:36

    Sickening, I thought Mandela freed SA from apartheid to help the poor.He and the top ANC are only helping themselves.

      TobyMashale - 2013-04-29 10:33

      his offsprings ,not him

      Kobus Oosthuizen - 2013-04-30 10:15

      @DeAndre. Sick because a family regardless of color is enriching them self while they watch the very people who put them in power live in poverty....

  • Franklyn Davies - 2013-04-29 09:41

    What happened to redistribution of wealth amongst the poor ? now that they have it,it seems like they want to keep it !

      Attie Stone - 2013-04-29 18:00

      Will it be fair to say his offspring can[as with many others] now claim to have "benefitted from apartheid"? After all would they be as affluent otherwise?

  • Dee Juice Selepe - 2013-04-29 09:43

    The law of succession will must be strictly applied to curb upcoming tension within Mandela family.

  • Phumi Ntlabati - 2013-04-29 09:45

    As long as they are not involved in destabilizing other countries like Margaret Thatcher’s son Mark.

      Jacqui Daane Van Rensburg - 2013-04-29 10:14

      Phumi Ntlabati. Mark Thatcher is a brainless twit and his mother protected him. Is this the only white idiot you could think of?.

      Nigel Vos - 2013-04-29 10:40

      Jacqui - I agree with you about Mark Thatcher, but I think Margaret was a great lady and leader.

      John Nicholas - 2013-04-29 15:26

      Why do you ANC supporters always settle for something because it's "better than something else"? I see this over and over and over. It's ridiculous. Flu is better than rabies. Do you want flu? Do you? Or are you going to join the rest of us in making things better, no matter what they were like before?

      Sam Jones - 2013-04-30 00:49

      Ha ha ha, Phumi! You crack me up! Check out the other 4 fingers pointing right back at you and your kind... Try again, love.

      Angela Banda - 2013-04-30 08:16

      Mudock , the greatest thioef of all times. Mandela's children desrve the billions . He worked for it . He has the scars to show the world !!!

  • Franco Conte - 2013-04-29 09:46

    In the name of Mandela they became wealthy. On theyr own they will squanderit thats why Bizos is there.

  • David Van Schalkwyk - 2013-04-29 09:47

    I wonder how much off that money was legitimately earned. O wait I know non off it….

      DeAndre Sosa - 2013-04-29 10:58

      really then why dont you go to report them if you have all the proof? and I wonder how many of these wealthy white families earned their money legimately? do you know?

      David Van Schalkwyk - 2013-04-29 13:51

      Do you know what sarcasm stands for?

      Kobus Oosthuizen - 2013-04-30 10:28

      @DeAndre. Your life seems to be based on black and white ? Sad that people like you still exist in South Africa......what happened to embrace the nation ? You want to defend the Mandela family, but yet you do not seem to embrace any of Nelson Mandela's visions for the future. He was able to put the past behind him and wanted to build a better South Africa for all South African. The current government is only concerned about themselves, and that is were it stops.

  • Muffin_man_can - 2013-04-29 09:47

    Thanks to appartheid you are now filthy rich

  • Anna Badenhorst - 2013-04-29 09:48

    And so what does all the anc voters say now,you are not getting any of that money. The root off all evilthat's where mandela's children fund went into his pocket,go and ask if any childrens fund got anything,its sick

      Del Pearson - 2013-04-29 19:02

      deAndreSousa - what connections do you have? some tenders maybe?

      Kobus Oosthuizen - 2013-04-30 10:34

      @DeAndre. Were you alive during the apartheid era ? And here we go again with the black and white.......i suppose two wrongs make one right? You, are a perfect example of what is wrong with this country.

  • Anna Badenhorst - 2013-04-29 09:48

    And so what does all the anc voters say now,you are not getting any of that money. The root off all evilthat's where mandela's children fund went into his pocket,go and ask if any childrens fund got anything,its sick

  • Susan Paul - 2013-04-29 09:49

    All the business is for the Mandela's and Zuma's...

      Thulani Ngomane - 2013-04-29 10:36

      broederbond

      Jim King - 2013-04-29 14:59

      i say let them do business... the former oppressed deserve their time in the sun..dont they ?

      Attie Stone - 2013-04-29 18:05

      No Thulani Xhosa nostra

  • Greg Martin - 2013-04-29 09:49

    As long as individual people and companies want to be associated with Mandela's name his kids will reap the financial benefit for their own gain. It is clear that Madiba vision of uplifting the poor is not in line with their vision. His kids are entitled to have their own businesses etc but like anything else hard work should be the criteria to get to the top, not the potential abuse of a family name.

      Tersia Louw - 2013-04-29 10:47

      Nothing "potential" about the abuse.

      Kobus Oosthuizen - 2013-04-30 10:38

      DeAndre. That's the first thing you have said today that makes any sense.

  • Christopher Douglas - 2013-04-29 09:54

    ka ching ka ching.... you go Mandela's its your time to shine

      Granville Ormerod - 2013-04-29 15:15

      Yep, it is because of idiots like yourself that this country will never come right.....every man for himself seems to be your attitude.

  • Mira Sturmair - 2013-04-29 09:56

    sars

      Stanton Clarke - 2013-04-29 14:37

      The virus or the government agency?

  • Graham Du Toit - 2013-04-29 09:56

    maybe one day when the truth about the arms deal is exposed the kids can pay back what daddy was given?

      Iceberg Standard - 2013-04-29 10:34

      You are spot on Graham. I've heard from a very reliable source that the arms deal benefited everyone in the top structure - from Mandela down to Mbeki, Zuma and the rest of the network. That's why investigations and commissions are stalled all the time. What a shame, I'm so disappointed. And there I was thinking the millions in donor money for the Mandela Children's Fund were for underpriveleged poor African children. Feel so stupid.

  • Mphumzi Sizani - 2013-04-29 09:58

    ripping the country off while millions are suffering...that is what gets to me yazi....at least the old regime looked well after their people..

      Sunel Johanna Bertarelli - 2013-04-29 11:30

      You right Mphumzi but as a white south african I am not so proud of my leaders at the time either, they also did steal but God they could never be as greedy as this goverment now, so sad for the poor people of SA who had voted and put them there in the hope that they will have a better live.

      Sterling Ferguson - 2013-04-29 12:00

      The Mandela's family isn't taking any money from the government. Mandela pen a best seller "Long Walk to Freedom" that was a big seller international that made money for him. The ex-president Clinton in the US has made over twenty million dollars from his speaking engagements since leaving office along with his book sales. M. Jackson's estate has made over a half billion dollars since he passed away.

      Tersia Louw - 2013-04-29 16:12

      Vuyokazi - You've decided Mphumzi has nothing to say? You've decided how he grew up and what his mother earned? Bit racist, wouldn't you say, deciding all that because of his name? His race? What? You're right about "its our time to rip the fruits"; rip, indeed, until there're no fruits left to rip.

  • Justin Young - 2013-04-29 09:58

    Nice article. Don't forget to give an update on all the families of the corrupt politicians and presidents that raked in millions during the apartheid era and their current wealth too.

      Kevin Adendorff - 2013-04-29 10:24

      Justin why do you not even bother doing a little bit of research before opening your pie hole. John Voster retired to a little apartment block off St Georges Park in Port Elizabeth, no extra security,and ordinary members of the public as neighbors, PW Botha retired to a little cottage on the lagoon at the Wilderness with one security guard at the front , John Voster flew economy class many times on standard commercial SAA. How or where they spent or hid their alleged ill gotten gains as you and your fellow ANC supporters like spewing remains a mystery.

      Granville Ormerod - 2013-04-29 15:17

      A government doing wrong in the past does not give the present government carte blanche to do as they please in the present....you need to go back to school....

      Attie Stone - 2013-04-29 18:12

      I really can't believe some fools who keep stating "what about the last governments stealing" as if that justifies the present lot carrying on with looting. I, as would most people, support nailing any past political thief....but these clowns actually try justify it.

      John Peter - 2013-04-29 20:41

      When PW Botha died his total estate left to his family was less than 3 mil rands, came from insurance policy money and the selling of his house. The new South Africa politicians is worth hundreds of millions if not billions when they retire.

  • Roger De Almeida - 2013-04-29 10:00

    Would like to know what any of them offer of value to any of these companies other than the right to use the Mandela name. I was under the impression that the use of trusts was heavily frowned on by the Tax man and the use of trusts as a way to evade tax and such is grounds to break up trusts. Why has no one looked into the obvious fronting going on here?

      Granville Ormerod - 2013-04-29 15:18

      Because of the surname.....

  • Ernica Stanford - 2013-04-29 10:01

    Hence the married daughters not taking their husbands names. As much as I have no time for any of their corrupt theiving ways, I'm sure anyone in their position would have grabbed at the oppotunity. It takes moral fibre to act differently, and these kids were obviously not braught up with any. They certainly didn't follow their fathers' example.

  • Ntsako Motiang - 2013-04-29 10:02

    EASY MONEY! The old man worked hard for it, and someone just want to inherit what he has not worked for. Some dont even know how to start making their own. Shame!!

  • Zaakirinho - 2013-04-29 10:03

    If only the wealth of our beautiful country could be used to serve the public, those in shacks who suffer during extreme heat and ice cold winters. Or those who experienced floods in Soweto.. Or those who are going hungry because they can't afford a basic meal. Or those struggling to pay their bills. Or those who can't afford to study. Or those parents who have to say no to their kids. Or those road users left to fit the bill towards tolls & high fuel prices. Or those living day to day, barely surviving, are rarely living life. In every article we read about a few who have taken so much out the pot you would understand that South Africa is amongst those countries in Africa that has enough wealth and resources to look after it's people yet Millions are suffering which at the end of the day is the reason crime is escalating. Those who are making it honestly are ripped apart by taxes while the lazy asses are left to collect and collect. Look after the poor, feed the hungry, educate our youth and restore peace !!!

      Jacqui Daane Van Rensburg - 2013-04-29 10:22

      Zaakirinho. Yes and every time there is a black person at my door asking for food, I wonder if it isn't time I start cursing these dreadful people stealing from their fellow countrymen and women.

      Granville Ormerod - 2013-04-29 15:20

      Finally a comment that makes sense...

      Tersia Louw - 2013-04-29 16:16

      Heavy chip, DeAndre Sosa. Try to let it go.

      Jane Botolo - 2013-04-29 23:21

      well said Zaakirinno. all these things and more we promises made by mandela.

      MJ Thobejane - 2013-04-30 14:10

      Sadly that's never gonna happen Zaakirinho, it only remains a dream and a way to campaign for votes.

  • Tim Norris - 2013-04-29 10:04

    No different to Comrades Tokyo and Cyril!

  • Jacqui Daane Van Rensburg - 2013-04-29 10:08

    They have to squeeze all the juice out of the lemon before it runs dry. Just your average bunch of money hungry individuals who will never have been noticed if it wasn't for their family name.

  • Justin Pretorius - 2013-04-29 10:10

    They are not entrepreneurs, they are just using Mandela's name. If it wasn't for his name they would be nothing

      Tersia Louw - 2013-04-29 10:50

      Kensong Ben - Quite right, they could have. They chose not to.

      DeAndre Sosa - 2013-04-29 12:25

      If Investors wants to be associated with the Mandela Surname , should the Mandela family decline their offer? Do not be stupid.

      Gert Wolmarans - 2014-01-20 09:52

      It is thanks to corruption that the name is worth so much.say the name and you get the tender. Even if you can not do the job.

  • gr8girl786 - 2013-04-29 10:12

    And thay still hungry for more...

  • foxiloxi - 2013-04-29 10:13

    I'd like to draw a comparison between Nelson Mandela's children and Bob Marley's children and how each of them carry the family name, we currently know what the Mandela children are doing, greedy to the bone and dragging this poor man's name through the dirt, on the other side, Bob Marley's children carry the name with pride, they do massive amount for charities founded in his name, his children make sure the Marley legacy is carried forward with pride, pity Mandela's lot couldn't do the same, Sad really!

  • Lloyd Venske - 2013-04-29 10:16

    Freedom fighters,fought for wealth...not freedom...

  • Michael Peters - 2013-04-29 10:18

    Corupption left right and centre. It gives Mandela a bad name. I don't think he knows what's going on anymore anyway. It is indeed mind boggling how his name is abused and used and they are getting away with it.

  • Tokolosh Nkosi - 2013-04-29 10:18

    Lovely just more nepotism in the top echelons of the ANC sorry for the poor hey! These top ANC echelons just enriching themselves day by day! Looting and contributing nothing to South Africa. I wonder if they pay tax to SARS. I wonder if they are helping their communities. Well I do not think so?!!! Then the poor people must deserve this if they accept these types of so-called leaders? Our liberators can literally live life like real kings and queens while the poor live like rats in shoddy shacks? It is so sad but it will not be long before the people are going to stand up to these corrupt leaders that just want it for themselves. Becoming fat on the money that they swindle of the poor! But hey only those poor people can say enough! As long as they the poor people are happy living in squalor and voting for the ANC it must be ok! Why should I get upset for and feel sorry for them!

  • Suga Lunch-Bar Gulube - 2013-04-29 10:20

    I say they're greedy

  • Phil Steel - 2013-04-29 10:20

    Nelson Mandela has spent his life building a name that is greater than royalty only to have that it destroyed by greedy relatives jumping on the bandwagon. I feel so sorry for Madiba.

  • Mphumzi Sizani - 2013-04-29 10:21

    Leonard Bloch - 100000%..well said

  • Alan Davis - 2013-04-29 10:24

    If the Mandela conection was not used, then would all these companies be able to prosper or come into being?

      Luzuko Tosh Plaatjie - 2013-04-29 10:33

      no ways

  • Shaun Mangasi - 2013-04-29 10:24

    Its not what you know, its who you know. If they were broke you would laugh at them , when their rich you criticise them. If you were in their positions you would throw all these fake morals in the dustbin. Well Mandelas at least when the old man passes his clan will look after themselves and not speak ill of the man who made them rich.

  • Tokolosh Nkosi - 2013-04-29 10:25

    And there goes the Mandela name even more down…

      Bob Wowzer - 2013-04-29 10:47

      If anything the Mandela name has improved. Stealing is somewhat of an improvement over terrorism.

  • Rammutlamojelamabokela Kp Mashishi - 2013-04-29 10:25

    as long as they do it transparently wthout fraud.hey,How does Zuma feel,taking millions of our money while Eastern Cape learners r still packed in mud schools?shame on SA!I DNT THNK WE WILL EVER HAVE SUCH A PRES,NEVER?N I BLAME THE ANC FR ALLOWING THIS!!!!

      Rammutlamojelamabokela Kp Mashishi - 2013-04-29 15:45

      Nkosi sikelele SA,there is looting!

  • Amit Pansari - 2013-04-29 10:29

    The headline should be changed to Billions not Millions!!

      Luzuko Tosh Plaatjie - 2013-04-29 10:32

      exaggerating

      Attie Stone - 2013-04-29 18:19

      And I told you a million times not to exaggerate........

  • John Cryink - 2013-04-29 10:31

    How much could possible have been gained out of the arms deal?

      Vuyokazi Balani - 2013-04-29 15:34

      who cares they deserve it after 27 yrs of prison

  • Tommy Mat - 2013-04-29 10:33

    If its the first time you know about this, u have just matriculated

  • Thando Ramncwana - 2013-04-29 10:37

    Kanti who was Mandela working for actually or who must benefit from his name if its not his children? I really dont see the public's interest in this matter.......

      Tersia Louw - 2013-04-29 11:06

      Thando - why do you think Madiba had the trusts drawn up?

  • Sibusiso Sishi - 2013-04-29 10:37

    so sad so sad to think this is how want to remember him

  • Thanduxolo Galada - 2013-04-29 10:40

    All they know about is directorships cause of the Mandela name. Little to none have stood on their own feet. Leeches. Meanwhile we "struggle" for jobs to feed our families. If ANC wins 2014 elections by 2/3 we'll know for sure how sheepish the masses are.

  • Mokeu Lesley - 2013-04-29 10:47

    So where is the public fitting here??? Did they get wealthy via corruption or because they are the Mandela clan???

  • Vicky John - 2013-04-29 10:48

    What, exactly, do any of them add in terms of value to the boards on which they sit - such a variety of companies - do they have any experience? Oh just the black face then - discriminatory, unethical and improper. Shame on them for just taking the money and the title and putting nothing back.

  • Nico Eksteen - 2013-04-29 10:50

    This long walk to freedom thingy is a most profitable idea indeed.

      Attie Stone - 2013-04-29 18:22

      Nico; Most [probably more now] are still walking...........

      FinalJustice - 2013-04-29 19:01

      More like it's become The long-drop to corruption

  • TheCrow - 2013-04-29 10:53

    Mandela has become a host for parasitic offspring which most of it are his own. what a shame

  • Thembinkosi Jozie - 2013-04-29 10:54

    This is a lie. The fact that they r fighting over Mandela's estate while he is still alive shows that they r broke. Why is it hard for them to wait until he dies? The money is theirs no one is going to steal it. If they were good in management why would Mandela ask Bizos to manage these companies?

  • Don Mug - 2013-04-29 10:57

    THEY DESERVE EVERY CENT.

      Tersia Louw - 2013-04-29 16:19

      For doing what, exactly, Don Mug?

  • Michael Ntsh - 2013-04-29 11:00

    This strory is baseless. Family of former presidents cannot work in government institutions because it will be perceived as nepotism. They cannot own companies because they will be seen to doing business with the state organs (National, Provincial, Local and SOEs). They must live in culverts because should they own a proerty it becomes a subject of public outcry. After qualifying in different disciplines, how should they earn a living? The author of this story must also publish valuation of wealth of families of former presidents who served during Nats rule.