Voetsek recently published figures revealing how black corporate executives are a dying breed in South Africa, falling from 15% to 10% in recent years, whilst 90% of CEOs at the JSE’s top 40 companies are white.
But how do the earnings of South Africa’s white business leaders compare to the majority of black South Africans?
A survey published by Bloomberg this week finds that South Africa’s CEOs are, astonishingly, the 7th best paid in the world, ahead of ultra-wealthy Singapore, Hong Kong and Denmark.
More shockingly however, is the pay gap between ordinary South Africans and the country’s CEOs. Bloomberg finds the average CEO earns a staggering 541 times more than the rest of us, leaving South Africa with the largest pay gap of this kind in the world, ahead of the United States by nearly double!
Once again: 90% of all these CEOs are white, when white South Africans make up less than 10% of the population.
And you all thought apartheid is over?