Julius Malema is a South African politician who is the current president of the Economic Freedom Fighters (EFF), a political party he founded in 2013.
He is a controversial figure known for his outspokenness and his advocacy for radical economic transformation in South Africa.
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Malema was born in Seshego, Limpopo, South Africa, in 1981. He joined the African National Congress (ANC) Youth League in his teens and quickly rose through the ranks.
In 2008, he was elected president of the league, but his tenure was marked by controversy. He was accused of corruption and hate speech, and he was ultimately expelled from the ANC in 2012.
Julius Malema Net Worth
Julius Malema has an estimated net worth of approximately $3 million, equivalent to around 57 million Rands.
His wealth is attributed to his involvement in various business ventures and his political career.
Despite facing legal challenges and controversies, including allegations of financial impropriety, Malema’s assets include luxury vehicles and significant political influence.
His lifestyle, marked by high-end cars and other luxuries, often draws public attention and scrutiny.
Julius Malema Businesses and Income Streams
Julius Malema’s business ventures and income streams are diverse, contributing to his significant net worth:
Business Ventures in Engineering and Construction
Malema has been involved in business through engineering and construction firms.
One of his businesses, a small engineering firm, reportedly profited from over R130 million worth of tenders within two years.
These ventures are typical in sectors that often work closely with government contracts, potentially providing a lucrative income stream.
However, there have been allegations and controversies surrounding these dealings, including claims of siphoning funds into his trust accounts.
Political Career
Malema’s role as a prominent politician and leader of the Economic Freedom Fighters (EFF) is another significant source of income.
His position in the political landscape of South Africa grants him a salary as a Member of Parliament.
The influence and connections that come with his political status likely open opportunities for various financial gains and partnerships.
His political career, while being a direct source of income, also potentially augments his other business dealings through the leverage of his political influence.