Who Inherited Nelson Mandela’s Wealth?

Who inherited Nelson Mandela's wealthNelson Rolihlahla Mandela a social activist, world leader, and a writer, was the most famous personality of South Africa. In 1994, Mandela was inaugurated as South Africa’s first black president. In 2009, Mandela’s birthday (July 18) was declared “Mandela Day” to promote global peace and celebrate the South African leader’s legacy. Mandela died at his home in Johannesburg on December 5, 2013, at age 95. There are many who still are confused about his wealth and the fact that who actually inherited it. Here is an answer to all those questions!

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Mandela’s Net Worth

Nelson Mandela had a net worth of around $10 million. Nelson Mandela served as President of South Africa from 1994 to 1999. The majority of Mandela’s net worth came in the form of book royalties from his best selling autobiography, 1994′s “Long Walk to Freedom”.

He cut his presidential salary when he came to power in 1994, and handed over a further third of it as a regular donation to a children’s fund. His wealth was held in a network of at least 24 trusts established by Ismail Ayob, the family’s former lawyer.

Who inherits the wealth?

Nelson was married three times and had six children (only three of whom are still living). Eventually Nelson placed the majority of his wealth into more than a dozen different trust funds that would simultaneously benefit his children and prevent them from further bickering.Because of the network of trusts in which the assets were held, as well as the lack of public documentation providing information, It was impossible to find the full extents of his wealth and interests.

Nelson Mandela and money

However, the most recognizable Mandela entrepreneurs were his grand daughters, 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 Nestlé, a shopping center 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.

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

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.