Mandela estate estimated at $4.1 million
South Africa’s former president Nelson Mandela has left an estate estimated at $4.1 million to be divided among his family, the ruling African National Congress, former staff and several local schools, a reading of his will revealed on Monday.
Deputy Chief Justice Dikgang Moseneke said that Mandela’s family had accepted the terms of his will earlier on Monday.
Mandela’s third wife, Graca Machel, waived her claims to the estate, Moseneke added at a news conference where he summarized parts of Mandela’s 40-page will.
Moseneke said some of the estate would be split between three trusts set up by Mandela, including a family trust designed to provide for his more than 30 children, grandchildren and great-grandchildren.
The reading of Mandela’s will was expected to set off another round of fighting among members of his large and factious family over the anti-apartheid hero’s financial legacy.
Mandela, who died in December at the age of 95, left behind an estate that includes an upscale house in Johannesburg, a modest dwelling in his rural Eastern Cape home province and royalties from book sales, including his autobiography, “Long Walk to Freedom.”
More visibly, his legacy includes a potent political and moral brand that some of his grandchildren and great-grandchildren have already used to market everything from clothing to reality TV.
Some of his grandchildren have started a line of caps and sweatshirts that feature his image under the brand “Long Walk to Freedom”. Two of his US-based granddaughters starred in a reality television show called “Being Mandela”.
Such aggressive marketing — as well as reports of bickering among relatives over Mandela’s money — have fueled the impression in South Africa that some of the family members have exploited their famous relative.