Mandela Family Begins Battle Over $15 Million Fortune

By Unknown

Monday, 9 December 2013

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He was a celebrated symbol of peace and democracy the world over.

But in the last years of his life, Nelson Mandela's own family has been at war, bickering between themselves over his many millions.

And in the wake of the anti-apartheid leader's death at 95 today, it is feared his surviving family will be plunged in to deep rifts over who stands to gain his
fortune.

Mandela was married three times and fathered six children – only three of whom, his daughters Makaziwe, Zenani 'Zeni' and Zindziswa, are still alive.
His daughter Makaziwe, from his first marriage, and Zenani, from his second marriage, have reportedly already become embroiled in a legal battle earlier this year over the control of a £1million trust fund.

Mr Mandela's third daughter, Zindzi, is not involved in the court action, the Star of South Africa reported.

But Makaziwe and Zanani are demanding access to the fund and have begun legal action against the trust's two directors; 84-year-old lawyer George Bizos, who defended Mandela in the 1963 Rivonia
Trial, and 60-year-old Tokyo Sexwale who was a prisoner alongside Mandela on Robben Island.

Supported by almost all of Mr Mandela's
grandchildren, Makaziwe and Zenani allege that the trust was intended for them and that Mr Bizos and Mr
Sexwale 'hijacked' it.

Makaziwe and Zenani have also launched a legal battle against the same two men and another lawyer Bally Chuene who are all directors of companies whose main purpose was to channel funds from the sale of Mandela's handprints.

The two daughters claim that Bizos, Sexwale and Chuene were never appointed by Mandela as major shareholders or directors. Bizos claims the allegations are completely false.

It is understood that Mandela has accumulated a fortune of more than £10million from his many autobiographies, intellectual work and after turning his family name in to a brand – a move his family have been more than happy to take advantage of.

The family is active in more than 110 trading companies, according to records compiled by Beeld newspaper.

His daughter Makaziwe has founded the House of Mandela wine label and is reportedly an active director in 16 other companies, although she insists some directorships have lapsed.
Addressing claims that the Mandela family are exploiting their name, Makaziwe has been quoted as saying: 'It's our name anyway. Why should we
apologise for our name?

'I'm in the wine industry. There are families who've been in the wine industry for 500 years and no one
says they are cashing in on their name.

'Every child in this family who wants to use the Mandela name has a right to do, so as long as they do so with honour and integrity and upholding the values of my father.'

Meanwhile, many of his grandchildren control other franchise companies or products.
He has 17 grandchildren and a growing number of great-grandchildren – several of whom have been accused of trying to make money off the back of their
family ties with the famous leader.

The money was placed in the fund by Mr Mandela in 2005 to be distributed to his daughters only in the event of hardship as he wanted them to forge a career of their own rather than live off his money.

He is said to have set up around 27 such funds over the years after 'losing trust' in his children with the money intended to last generations for 'specific
circumstances' and not general use.