Home NET WORTH Ace Magashule Net Worth 2022, Age, Height, Family, Wife, Children, Qualifications, ANC

Ace Magashule Net Worth 2022, Age, Height, Family, Wife, Children, Qualifications, ANC

Ace Magashule net worth

Read the complete write-up of Ace Magashule net worth, age, height, parents, family, wife, children, qualifications, politics as well as other information you need to know.


Ace Magashule is a South African politician and an anti-apartheid activist who is currently on suspension from the position of Secretary-General of the African National Congress. He served as the Premier of the Free State, one of South Africa’s nine provinces, from 2009 until 2018.

Magashule has been the subject of many allegations of involvement in corrupt activities. He was arrested in November 2020 and awaits trial.

Early life

Name Ace Magashule
Net Worth$10 million
Age62 years
Ace Magashule net worth 2022

Elias Sekgobelo “Ace” Magashule was born on November 3, 1959 (age 62 years) in Parys, South Africa. Magashule attended Tumahole Primary School (now Lembede Primary) in Parys and Phehellang Secondary School. He received his Bachelor of Arts degree from Fort Hare University. After graduating, he taught at Moqhaka High School in Sebokeng, and later at Phehellang High School in Tumahole.

Anti-apartheid activism: While at the University of Fort Hare, in 1982, he was arrested following a protest against a visit by Ciskei Prime Minister Lennox Sebe, and convicted of public violence. His official ANC biography claims that he was charged with high treason. However, court records show that he was never arrested nor tried for treason.

Ace Magashule was a member of the Tumahole Youth Congress in the 1980s and played a role in United Democratic Front in Northern Free State in the 1980s and participated in organizing rent boycotts in Tumahole. He was detained for his role in UDF activities in 1985. He went to exile in 1989 and returned in 1991 after unbanning of ANC/SACP and PAC.

Political career

Ace Magashule was elected Chairperson of ANC’s Northern Free State Region in 1991. He was elected Deputy-Chairperson of ANC in the Free State in 1994. Ace Magashule served as MEC of Economic Affairs between 1994 and 1996, he also served as MEC of Transport. Magashule was deployed to National Assembly, in August 1997. after which he was the Provincial Chairperson of the African National Congress (ANC) in the Free State, 1998.

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He was re-elected as Chairperson of ANC PEC in Free State in 2002 and also served as MEC of Agriculture between 2004 and 2005. While in 2005, he was re-elected as Chairperson of ANC PEC in Free State. He was elected to ANC National Executive Committee during the 52nd ANC National Conference in 2007 at Polokwane.

Ace Magashule was re-elected as Chairperson of ANC PEC in Free State in 2008 and also served as MEC of Sports, Arts and Recreation between 2007 and 2008. He served as MEC of Safety and Security in 2008.

Ace Magashule was appointed as Premier of the Free State on 6 May 2009, replacing Beatrice Marsh off. As Premier, he initiated Operation Hlasela, a campaign to fight poverty in the Free State, and established a bursary fund for tertiary students in the Premier’s office. He was elected Secretary-General of the African National Congress in December 2017 during the party’s elective conference.

Corruption allegations

Magashule has been the subject of many journalistic investigations alleging his corrupt activities. In 2011 Magashule and Mohloua Seoe were linked to a government property deal that was awarded to a company of which both were once co-directors. In November 2017 the winner of a tender from the provincial government Magashule headed alleged that Magashule had personally encouraged him to act as a front for the contract.

In January 2018, the Hawks unit of South Africa’s Directorate for Priority Crime Investigation raided Magashule’s offices in connection with the Vrede Dairy Project, calling it a “scheme designed to defraud and steal monies” from the Free State Department of Agriculture. A warrant for his arrest was issued by the Hawks on 10 November 2020 for corruption relating to an R255-million asbestos audit contract when he was premier of the Free State.

One of his sons, Tshepiso “Gift” Magashule, was employed as a consultant by the Gupta family since November 2010, shortly after Duduzane Zuma was brought under their influence. In 2011 Gift joined the Gupta brothers on a three-week holiday to New York and Venice, and he was later appointed as a director in a Gupta company, earning R90,000 a month. Ace Magashule alleged that Gift’s link to the Guptas was no secret. In 2015 the Guptas treated Gift and his brother Thato to an eight-day stay in the Oberoi Hotel, Dubai.

In 2015 a busy Shell fuel station in Phuthaditjhaba, owned by the Free State Development Corporation (FDC), was acquired by Ace’s 27-year-old daughter Thoko Alice Malembe. As the deal involved an R11.5 million upfront rental fee from Shell, and a purchase price of R2.9 million, reportedly below its market value, it resulted in a windfall of some R8.9 million for Malembe’s MMAT trust.

Ace Magashule denied any involvement, despite a security video of 18 December 2014 which confirmed his exploratory visit to the fuel station, in the company of two FDC board members, and apparently, Malembe. The fuel station’s 60 employees had to be retrenched by their former employer when it lost its case against the FDC.

After she was reunited with her father in 2011, Malembe registered Botlokwa Holdings in 2013, which managed to secure a series of government tenders and property deals from the Free State provincial government. Malembe’s trust or company also acquired a Botshabelo fuel station from the FDC for R2.88 million (or R4 million according to the FDC), despite an offer of R5.5 million from another investor.


Ace Magashule is a long-time friend of Hantsi Matseke, chairperson of the FDC. Matseke owns Maono Construction which has been awarded contracts worth R515 million by government departments and municipalities in the Free State. Magashule has denied influencing any of these. Maono Construction has however subcontracted work to Malembe’s Botlokwa Holdings.

Arrest and criminal charges

On 10 November 2020, Magashule was arrested after a warrant was issued by the Directorate for Primary Crime Investigation on 21 charges of corruption, theft, fraud and money laundering. Three days later, Magashule appeared in a Bloemfontein, South Africa court for a bail hearing.

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In May 2021 he was suspended from the position of Secretary-General of the African National Congress until the outcome of these court proceedings. He declared that he did not accept his suspension and in turn sought to suspend Cyril Ramaphosa, the President of the African National Congress and of South Africa.


Wife – Ace Magashule is married to his longtime girlfriend Seipati Magashule, they had their wedding in the 1990s. Magashule and his wife Seipati Magashule have three children. However, on 13 September 2021, the Gauteng High Court dismissed Magashule’s application to appeal his suspension. The pre-trial hearing for charges of corruption and money laundering is scheduled to take place on 3 November 2021.

Ace Magashule net worth

How much is Ace Magashule worth? Ace Magashule net worth is estimated at around $10 million which is approximately R148 million South African rands. His main source of income is from his private investments businesses. Ace Magashule’s successful career has earned him some luxurious lifestyles and some fancy cars. He is one of the richest politicians in South Africa.