World
Mandela's estate worth estimated $4.1 mn
Publish Date: Feb 03, 2014
Mandela's estate worth estimated $4.1 mn
The coffin of South African former President Nelson Mandela at his burial site on December 13, 2013 in Qunu (South Africa Government Communication and Information System/AFP, Edmond Jiyane)
  • mail
  • img
newvision

Nelson Mandela left portions of his roughly $4.1-million estate to his wife Graca Machel, family members, staff, schools and the ANC, according to a summary of his will released Monday.

Two months after the death of the 95-year-old South African statesman, lawyers said wife Graca was entitled to half the estate, but may opt to receive only specified assets, including four properties in Mozambique.

Royalties from his books and other projects, as well as his homes in Johannesburg, Qunu and Mthatha were left to a family trust.

The home in Houghton, Johannesburg where Mandela died on December 5 will be used by the family of his deceased son Makgatho.

"It is my wish that it should also serve as a place of gathering of the Mandela family in order to maintain its unity long after my death," the former statesman wrote.

Mandela's children each received $300,000 in loans during his lifetime and will have that debt scrapped if it has not been repaid.

Mandela's other bequeathments reflected a life in politics and championing education.

Mandela gave around $4,500 each to members of staff, including long-time personal aide Zelda la Grange.

The will also gave around $90,000 each to Wits and Fort Hare Universities, and the same amount to three other schools.

The African National Congress, which Mandela led to victory in the first democratic elections in 1994, will receive a portion of his royalties.

The will was first written in 2004 and last amended in 2008.

Even before his death, Mandela's children and grandchildren frequently clashed over who leads the family and who should benefit from his investments

Executor Dikgang Moseneke, the deputy head of South Africa's Constitutional Court, said the reading of the will to the family had been "charged with emotion" but no one had yet contested it.

AFP

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Two Iranians held in Kenya amid terror alert
AUTHORITIES in Kenya say they have arrested two men believed to be Iranian nationals transiting through the East African nation on fake passports...
Queen urges unity after Scotland votes
Queen Elizabeth II has called for "mutual respect" among Scots following a divisive campaign in a referendum that saw Scotland reject independence from the UK....
France begins strikes in Iraq as anti-jihadist drive widens
France carried out its first air strike against the Islamic State group in Iraq Friday, boosting US-led efforts to unite the world against the growing threat posed by the jihadists....
Obama welcomes Scotland
US President Barack Obama congratulated Scotland Friday on its "full and energetic exercise of democracy," as he welcomed the result of its historic referendum rejecting independence from the United Kingdom....
Sierra Leone streets deserted as shutdown begins
Sierra Leone's normally chaotic capital was transformed on Friday as residents were confined to their homes for the start of a three-day lockdown aimed at halting the deadly Ebola epidemic....
No independence for Scotland: In pictures
Scotland has rejected independence in a referendum that leaves the UK intact. Take a look at what has been going on there....
Should bride price be made optional?
Yes
No
Can't Say
follow us
subscribe to our news letter