Julius Malema is a South African politician and activist. He leads the Economic Freedom Fighters (EFF), a left-wing party he founded in 2013.
Malema is known for his strong opinions on important issues in South Africa such as land reform, corruption, racism, and inequality.
People are curious about his wealth and how he maintains his luxurious lifestyle.
In this article, we’ll delve into Julius Malema’s net worth, income sources, assets, and expenditures.
Julius Malema’s Net Worth
Several sources approximate Julius Malema’s net worth at approximately $3 million (equivalent to R55 million).
This estimate takes into account his parliamentary salary, business interests, and personal assets.
Nonetheless, it’s important to note that this figure may not be entirely precise or up-to-date.
Malema has been entangled in a number of legal disputes with the South African Revenue Service (SARS) regarding his tax affairs.
Furthermore, he has faced accusations related to fraud, money laundering, and racketeering in connection with various companies that have profited from government contracts.
What is Julius Malema’s parliamentary salary?
Julius Malema, a member of parliament, earns R1.3 million per year (R108,000 per month), which is the usual pay for a minority party leader in parliament.
The Independent Commission for the Remuneration of Public Office Bearers sets this salary and advises the president on public officials’ compensation.
Malema claims he has other sources of income besides his parliamentary earnings.
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What assets does Julius Malema possess?
Julius Malema has many luxurious properties and cars.
He lives in a fancy mansion in Hyde Park, Johannesburg. The mansion is rented from Adriano Mazzotti, a controversial businessman.
The mansion is in a secure estate with a high wall and cameras.
The monthly rent is estimated to be between R10,500 and R50,000.
Malema also owns a farm in Limpopo province. He bought it for R4 million in 2011.
The farm has a four-bedroom house, a swimming pool, a dam, and cattle.
However, SARS seized the farm in 2013 because Malema owed them R16 million in unpaid taxes.
The farm was auctioned off in 2015 for R2.5 million.
Malema owns several vehicles, including two Range Rovers, a Mercedes C63 AMG, a Mercedes Benz Viano minibus, and an Aston Martin.
He has been seen driving these cars at different events.
However, SARS and creditors have also claimed some of these cars due to Malema’s legal issues.
What are Julius Malema’s expenditures?
Julius Malema allocates substantial funds to his personal and political pursuits.
He’s renowned for his extravagant celebrations, lavish gifts, high-end attire, and generous donations.
Extravagant parties held at his Hyde Park residence have drawn celebrities and politicians.
Malema has bestowed gifts such as Rolex watches and Louis Vuitton bags upon his acquaintances and allies.
Moreover, he has extended financial support to various causes and organizations, covering expenses like needy students’ school fees and groceries for impoverished families.
Significantly, Malema incurs considerable expenditures on legal fees due to his involvement in numerous court cases over the years.
He’s faced charges spanning hate speech, incitement to violence, fraud, money laundering, racketeering, tax evasion, and assault.
Prominent legal counsel, including Dali Mpofu and Tembeka Ngcukaitobi, have represented him in these cases, some of which he’s appealed to higher courts.
The estimated legal costs for these proceedings amount to millions of rands.
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Conclusion
Julius Malema is one of the richest and most powerful politicians in South Africa.
He has a lot of money because he gets paid for being in parliament, he has businesses, and he owns things.
But his money situation can go up and down depending on whether he can solve problems with owing taxes, legal troubles, and spending a lot on fancy things.
