Home » South African billionaire Johann Rupert’s wealth soars by $210 million in four days

South African billionaire Johann Rupert’s wealth soars by $210 million in four days

by Omokolade Ajayi

South African billionaire Johann Rupert has seen his net worth surge by $210 million in the past four days, taking his total gains this year above $1.5 billion.

This pegs his net worth at $9.53 billion, according to Bloomberg.

These gains in his net worth make him the only African who has recorded a net-worth increase of more than $1 billion since the beginning of 2021.

As of press time, 4:25 PM (UTC), Sept. 3, data retrieved from the Bloomberg Billionaire Index revealed that since Aug. 31 Rupert’s wealth had increased from $9.32 billion to $9.53 billion, taking his gains in about four days to $210 million.

The surge in his net worth came off a double-digit price appreciation in the shares of Compagnie Financiere Richemont SA (Richemont), a Swiss company which he founded in 1988.

The increase in the market value of his stake in the luxury goods holding company has been compounded by year-until-date YTD* gains in his investments in Reinet and Remgro Limited.

Reinet is a Luxembourg-based investment vehicle that was demerged from the Swiss luxury goods company Richemont a few months ago, while Remgro is an investment holding based in Stellenbosch, South Africa.

According to Bloomberg, Rupert’s $9.53-billion net worth makes him the wealthiest South African billionaire ahead of Nicky Oppenheimer, who has a net worth of $7.85 billion.

Rupert derives a substantial percentage of his wealth from his stake in Compagnie Financiere Richemont, as well as from his investments in Reinet and Remgro, his current valuation makes him the 271st richest man in the world.

*YTD (Year-till-date) gains represent gains from the start of the current year till the current date.

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