Jabulani Ngcobo is a 31-year-old businessman, motivational speaker and technical trader. Born in KwaDabeka in 1985, in KwaZulu- Natal, Ngcobo matriculated from Langa High School in 2003.
The Durban businessman gained popularity in 2011 when he splashed out on his 26th birthday party. He spent R1 million on a lavish celebration which drew both ire and interest.
Known for his flashy cars and expensive lifestyle, Ngcobo’s source of wealth is as a result of founding a company that teaches people how to trade on the stock exchange.
He founded his stock market company, Cash Flow Pro in 2009, after having initially started his own debt collection company in 2006.
He has been described as one of the richest young people in Durban. This has led to many people to asking what Jabulani Ngcobo’s net worth is.
More about Jabulani Ngcobo’s net worth
His actual net worth is unknown. What is known is that he owns many cars, valued at over R3 million.
Ngcobo has also been investigated by the South African Reserve Bank for allegedly running a pyramid scheme.
In 2011 there were also rumours that Ngcobo owned a R2.5 million house in New Germany- a claim he refuted.
“Why would I live in a R2.5million house when I work so hard? My clients must live in those kinds of houses. I will be building a house in Zimbali or Umhlanga, a real house that I will be proud of,” Ngcobo said.
In 2017 he was found not guilty of charges of fraud, theft and money laundering.
“We are not running a pyramid scheme. Our company trains people how to trade on the stock exchange,” he said.
The businessman, who has been keeping a low-profile, has said that he is now planning to sue the state for damages suffered by him and his business.