Phumelela Gaming & Leisure temporarily lays off most of its workforce

Phumelela has furloughed about 85% of its 1,600-strong workforce from May because the company is not generating revenue after a nationwide lockdown suspended activities in the horse racing industry. This is despite the R100-million grant from the Oppenheimer family, which will support the company for only about five months.

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Family Offices

How to Get Rich? Make a Lot or Save a Lot?

How does someone achieve financial security or even get rich? Is it by earning a lot or by scrimping, exercising thrift and saving a lot? Bloomberg Opinion writers Nir Kaissar and Barry Ritholtz met online to debate.

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