Jacob Zuma The former President of South Africa- Jacob Zuma is known for his love for the big life characterized by big lavish homes, sleek cars, and many wives and children whom he takes care of fully. But how does he afford to live the large life comfortably? Here is a look at Jacob Zuma’s…
Jacob Zuma
The former President of South Africa- Jacob Zuma is known for his love for the big life characterized by big lavish homes, sleek cars, and many wives and children whom he takes care of fully.
But how does he afford to live the large life comfortably? Here is a look at Jacob Zuma’s net worth, his political career that helped him amass his wealth, as well as his houses that are at the centre of his extravagant lifestyle.
What is Jacob Zuma’s net worth?
According to several online sources, Jacob Zuma’s net worth is estimated to be $20 million, which is roughly equivalent to R349.9 million.
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Jacob Zuma’s political career
Former President Jacob Zuma, source: NDTV
Born in 1942 in Nkandla, South Africa, Jacob Zuma joined the African National Union (ANC) in 1959 when he was still a teenager.
He was imprisoned for ten years at Robben Islands and was released in 1973. In 1975, Zuma went into exile and was appointed the head of the department of ANC’s intelligence.
After the ban on ANC was lifted in 1990, Jacob Zuma rose through the ranks of the party until he became its president in 2007. He also served as the deputy president of South Africa between 1999 to 2005 under President Thabo Mbeki. He was dismissed in 2005 following corruption allegations.
In 2009, Jacob Zuma was elected the fourth president of South Africa after which his corruption case was dropped.
A huge portion of assets that make up a large portion of Jacob Zuma’s net worth was accumulated during his tenure as president- a position he served until December 2017 when he resigned.
During his tenure as president, Jacob Zuma was embroiled in controversies that involved the misuse of public resources to benefit himself. In 2014, a report by the Public Protector revealed that he had improperly used state funds on extravagant upgrades to his Nkandla homestead.
Besides his under-dealing, Jacob Zuma also earned an attractive salary of R 2.98 million. Following his resignation, Zuma continues to earn his salary.
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Jacob Zuma’s houses
Zuma’s Nkandla homestead, source: BBC
Jacob Zuma’s net worth affords him a royal lifestyle that many can’t. The former head of state who is known for his appetite for the large life owns a couple of opulent homes.
He owns a big home in Nkandla famously known as the Nkandla homestead which cost about R 246 million and has over-the-top features that include a helipad, a visitors’ centre, a fire pool, a private military hospital, cattle kraal, chicken run, amphitheatre and massive parking lot just to name a few.
Besides his Nkandla homestead, Jacob Zuma also owns another posh house in Dubai that was reportedly gifted to him by the infamous Gupta brothers.
Zuma’s Dubai house is reportedly located just next to the late Robert Mugabe’s house. Sources indicate this Dubai palace has ten bedrooms, 13 bathrooms, and nine reception rooms all which are tastefully furnished expensively.
