The Congress of South African Trade Unions has for many years been highlighting the gross levels of inequality in South Africa, which have made us the most unequal society in the world.
The Sunday Times, 5 December 2010, has now revealed that, if the report is true, COSATU, far from exaggerating the gulf between rich and poor, has been seriously under-estimating it!
A survey by Who owns Whom has revealed that the number of super-wealthy South Africans have doubled in just a year. And this has happened while we have been recovering from a recession in which over a million workers lost their jobs and as a result over 5 million people were plunged into dire poverty.
According to the report, the number of billionaires has nearly doubled from 16 in 2009 to 31 this year. SA's 20 richest men (only one woman made the top 100, and she only just made it, in 95th place), enjoyed a 45% increase in wealth this year.
It is the same story in earnings. COSATU has frequently quoted the income received by Nedcom CEO Tom Boardman, yet this survey reveals that he ranks only 38th in the league of highest earners!
Top spot is occupied by Pine Pienaar, CEO of Mvelaphanda Resources, who raked in R63 million in 2009, closely followed by Norbert Platt, CEO of Richement, who got R58 million, and Marius Kloppers, CEO of BHP Billiton who took home R54.