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ANC Youth League president Julius Malema owns two multi-million rand homes, flashy cars and a R250,000 watch, but earns R20,000 a month, according to a newspaper report.

The report in The Star newspaper - headlined Malema's millions - claims Malema owns a R3,6m house in Sandown and a R1m mansion in Polokwane, both of which he paid cash.

Finance Minister Pravin Gordhan announced this week that targeted lifestyle audits would be conducted this year.

Malema lashed out when The Star asked him how he could afford to buy a R3.6m house cash.

"You and your husband and your family - that's who you need to write about. You go away, just go away," he said before slamming down the phone.

Sources in the ANC Youth League said Malema earns R20,000 a month.

Malema is the director of four companies: 101 Junjus Trading CC, Blue Nightingale Trading 61, Ever Roaring Investment and SGL Engineering Projects.

According to the report, Malema also owns a black Mercedes-Benz AMG, which retails at R734 000, and reportedly drives an Aston Martin and a red Range Rover Sport.

On Thursday night Malema went to a lecture at Wits University in a brand-new white Range Rover - with no number plates - which sells for R1,2m.

According to Standard Bank's bond calculator with a ten percent deposit taking the amount on Malema's R3.6m property down to R3.24m, Malema's monthly repayment on a 20-year bond would be R32,953.87. (As the bond calculator wouldn't accept a R20,000 monthly salary, Times LIVE inserted a higher figure.)

His car repayment on a R734 000 Merc, according to Wesbank's Vehicle Repayment Calculator, with a ten percent deposit, would come to R16,307.78 a month for 4.5 years.

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