Nelson Mandela Estate Valued At $4.1 Million So FarBy: Val Powell - February 4, 2014
The late South African president Nelson Mandela has reportedly left behind an estate valued at 46m rand ($4.1 million), according to the executors of his will.
Mandela died last December at age 95. The civil rights hero left an estate that includes a house in Johannesburg, a modest Eastern Cape home as well as royalties from his book sales, including “Long Walk to Freedom’, his autobiography.
Executor Justice Dikgang Moseneke, who is also the deputy chief justice of South Africa’s constitutional court, said that the 46m rand is only an estimate of Mandela’s assets for the time being.
“We are yet to get down to the business of finding the asset, listing them and valuing them and accurately reflecting them. We have a duty to file a provisional inventory.” said Moseneke.
Nelson Mandela left money in his will to his children, grandchildren, staff, the African National Congress (ANC), and two universities he attended. Moseneke said the reading of the will so far has been an emotional event for Mandela’s family. The family had been fighting among themselves even before Mandela passed. The executors believe that the three trust Mandela left behind could yield significantly more wealth which could trigger a court battle among family members.
There is, however, one very noticeable omission — Winnie Mandela was left out. Nelson Mandela’s ex-wife and former comrade in the fight to end apartheid got nothing. Winnie Madikizela-Mandela was the late South African president’s wife for 38 years, the two were divorced 1996. In 1998 Mandela married for a third time to Graça Machel.
Machel is expected to waive her right by marriage to half the Mandela estate, instead choosing to receive properties, cars, jewelry and other assets in Mozambique. Machel is not only Nelson Mandela’s widow but also the widow of late Mozambican president, Samora Moisés Machel, who died in a 1986 plane crash. If she waives her right, the two children she had with the Mozambique president will receive 3m rand each from Mandela’s estate, while Samora Machel’s six children from a previous marriage will each receive 100,000 rand.
Now the job of carrying out Mandela’s will is left to three executors: Moseneke, George Bizos, Mandela’s friend of 65 years, and Themba Sangoni, the chief judge in Eastern Cape province.
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