• No_Ads
World
Mandela's estate worth estimated $4.1 mnPublish Date: Feb 03, 2014
Mandela's estate worth estimated $4.1 mn
  • mail
  • img
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)
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
Several wounded as gunmen attack civilians in S.Sudan UN base
Several people were wounded in South Sudan Thursday after gunmen attacked civilians sheltering inside a UN peacekeeping base in the war-ravaged town of Bor, the UN said....
Senegal ex-president
The flamboyant "super minister" son of former Senegalese leader Abdoulaye Wade is to be tried in June for corruption after accumulating a fortune valued at well over $1 billion, a judicial source said on Thursday....
Child soldiers battle in worsening South Sudan war
Like many 13 year-olds, Gach Chuol is timid, shyly looking down at the ground as he speaks to a stranger. But he is also joining South Sudan’s war to avenge the death of his parents, and brandishes an AK-47 assault rifle as he recalls why he traded his school books for arms....
Hundreds still missing in South Korea ferry disaster
The frantic search for nearly 300 people, most of them schoolchildren, missing after a South Korean ferry capsized slipped into a second day Thursday, as distraught relatives maintained an agonised vigil on shore....
Kidnapped Nigeria girls taken to Islamist stronghold
THE Nigerian schoolgirls kidnapped by Boko Haram were taken to a stronghold of the Islamist group, parents said as the military confirmed that 129 students had been abducted...
Putin warns Ukraine on brink of civil war as Kiev sends army in
Russian leader Vladimir Putin warns that Ukraine is on the verge of civil war, the Kremlin said Wednesday, after the Kiev government sent in troops against pro-Moscow separatists in the east of the country....
Is the return of Buganda Properties a sign of good Governance?
Yes
No
Can't Say
follow us
subscribe to our news letter