The 81-year-old former South African president Jacob Zuma was named as the highest-paid politician in the country with an estimated R 2 994 255 reported net worth. Despite being a part of multiple controversies and corruption scandals, Zuma still runs several real-estate businesses and food chains successfully across the globe, apart from his political duties.
According to sources, he owns lucrative deals with local cosmetic companies, a massive food chain across South Africa, Nkandla Angels (football team), and Pure Wonder Zuma African vodka brand. Sounds intriguing, right? If you want to know more about his net worth, income sources, and personal assets, keep reading this guide.
Jacob Zuma’s Net Worth
Jacob Zuma has an estimated net worth of around R388,050,000 in total. According to Pay Wizard, former president Jacob Zuma earns approximately R2 994 255 on a yearly basis. When this salary is broken down, it makes around R249 536 on a monthly basis and R 57 594 on a weekly basis.
This is the reported estimated amount (government pension) and may not include the income generated passively through his personal assets. According to Eyewitness News, the national assembly was in favor of offering a pension package to the president with a majority of 197 votes. As per this decision, Jacob Zuma was allegedly paid around R2.98 million on a yearly basis.
Salary During Presidency
Here is a breakdown of the salary the former president Jacob Zuma received during his years in the presidential office.
- When he was re-elected as the president in 2012, his annual pay package was around R.26 million, which is the standard for the country’s top official.
- As of 2015, the former president Jacob Zuma was earning around R5 826 per month.
- In 2016, Jacob Zuma was required to freeze his pay due to controversies and legal battles.
- Following this, in 2018, the former president was once again allegedly paid around R2 98,845 on a yearly basis. After this, he was retired from the position.
- Ever since, he has been paid a pension amount (reported to be 50% of the original salary).
The main source of Jacob Zuma’s net worth remained the presidential salary during his time in office. According to Eyewitness News, he was the highest-paid president in South Africa during and after his presidency, despite being a part of multiple allegations, controversies, and legal battles. Between 2009 and 2019, former president Zuma was paid around R2.8 million yearly.
Zuma was originally elected as the President of South Africa in 2009, with the victory of the ANC, and was re-elected in 2012 against Kgalema Motlanthe by a large majority. In 2014, despite the hit his party suffered during election season, he sustained the position at the presidential office. Even after retirement, he availed himself a pension package approved by the National Assembly.
Apart from this, he has several other sources of income, including book deals, business ventures, public speaking, and community sessions. In addition, his national and international food and real-estate businesses make up a large sum of his net worth. That said, some of his property is currently involved in legal issues.
Assets Behind Zuma’s Net Worth
Jacob Zuma is one of the most controversial political leaders based in South Africa, and he spent ten years on Robben Island for ten years along with Nelson Mandela. He is considered one of the richest former presidents in the country. Here is a breakdown of some of his public assets, which make up a large part of his net worth.
Within Dubai, Jacob Zuma has a home in the Emirates Hills worth $30 million, with ten bedrooms and thirteen bathrooms. Along with this, he owns a flat in Burj Khalifa, with an approximate cost between $1 and $10 million.
Nkandla is considered one of the most expensive sites in South Africa. Former President Jacob Zuma has a massive property surrounded by high fences and guard towers. This lavish mansion allegedly has a value of around $20 million, with its own hospital facility, headquarters, and a helipad.
Former President Zuma owns the exotic Lamborghini Aventador, with an average cost of $441,000. This car has a V 12 3.5 L engine with a top speed of 217.5 mph and can gain up to 60 mph in 3 seconds.
Patek Philippe Watch
Jacob Zuma has a luxurious piece from the Philippe Complication worth $45,000. His watch has a weather-resistant build with automatic movement, an 18-carat white gold case, and a silver dial mechanism. This watch is a popular watch among other top South African officials.
Currently, Zuma has sole ownership of an Audi A6 and Audi Q7, with a price tag of $42,000 and $65,000 respectively. Apart from this, he also has a collection of exotic jeeps.
In addition to the Jeep collection, Jacob Zuma has the Range Rover Sport, which is the most luxurious car in the entire Rover line. It costs approximately around $100,000 and has an SUV built.
Jacob Zuma also bought the Land Rover Discovery for his wife, with an estimated cost of around $40,000. This car has 26-43 mpg fuel economy with an average speed between (118 and 135 mph). It further includes a customized interior, dolly sound, and wifi setup.
In South Africa, Jacob Zuma has a chain of five-star restaurants across Mzansi and Pretoria called the Fat Zuma Burger. This place specializes in Big Mac-style burger meals and drinks (coffees, milkshakes, etc.).
How much does Zuma get paid?
The reported earning of former South African president Jacob Zuma is approximately R2 980 000 on a yearly basis. If broken down, it is R249 536 per month and R 57 594 per week. Do consider that this price may not be inclusive of his passive earnings from national assets.
Has Jacob Zuma paid back the money?
Previously, former president Zuma was directed by the national court to pay tax money caused by the non-security features of his property in rural Nkandla. Reportedly, he has paid back the R7.8 million as renovation money against the original demand of R60 million.
What does Jacob Zuma do for a living?
Jaco Zuma, also known as JZ or Mscholozi, served as the fourth president of South Africa from 2009 to 2018. Apart from this, he runs ANC (a political party), has several business ventures, and does community service that contributes to his yearly earnings and net worth.
What is Jacob Zuma’s net worth?
A rough reported estimate of Jacob Zuma’s (the former South African president) net worth is around $20 million. This amount is legally attributed to his business ventures (national and global), real-estate investments, and pension amount he got as a retired president.
Does Jacob Zuma receive a pension from the government?
According to Eyewitness News, the National Assembly passed a resolution to pay R2.8 million annually as a pension amount. This decision was approved by the Independent Commission on Remuneration of Public Office Bearers and 197 majority votes in the National Assembly. Hence, the president is reportedly paid this amount on a yearly basis.
In essence, the fourth president of South Africa, Jacob Zuma, has been in the spotlight for corruption scandals, moral controversies, and global businesses. Despite this, he reserved the number one spot on the list of highest-paid politicians across the country, making every SA citizen intrigued by his case. Finally, I hope this guide has been able to provide you with valuable insight into his finances and net worth.