Four assets that make South African billionaire Johann Rupert Africa’s richest man

Omokolade Ajayi -

On Fri., June 16, Johann Rupert achieved a historic milestone as Forbes, the renowned U.S. business magazine, unveiled him as Africa’s wealthiest individual, surpassing Nigerian billionaire Aliko Dangote.

Rupert, already recognized as South Africa’s richest man spearheads Richemont, a leading luxury holding company based renowned for prestigious brands such as Cartier and Montblanc. Additionally, Richemont stands tall as one of the world’s largest luxury watchmakers.

With an impressive global ranking of 145 among the world’s wealthiest people, Johann Rupert has constructed a diverse investment portfolio.

Apart from his substantial $1.7-billion fortune, which constitutes more than 14 percent of his wealth, he holds strategic stakes in valuable companies.

His investments include significant holdings in Richemont, the Switzerland-based luxury holding company, as well as stakes in Remgro, an investment vehicle-based in South Africa. Furthermore, Johann Rupert maintains interests in Reinet Investments S.C.A., an investment vehicle situated in Luxembourg.

  1. Richemont

Johann Rupert, Africa’s wealthiest individual, has amassed a vast fortune primarily through his substantial ownership of Richemont, a renowned Swiss luxury goods conglomerate. Forbes estimates that the majority of Rupert’s $12 billion wealth can be attributed to his impressive 9.14-percent stake in Richemont.

This stake, valued at $9.1 billion at the time of this report, represents approximately 76 percent of his billion-dollar fortune. Richemont boasts an impressive portfolio of esteemed brands, including Cartier, Chloe, Dunhill, Alaa, and Delvaux, which further contributes to Rupert’s immense wealth.

  1. Reinet Investments

In addition to his majority stake in Richemont, which accounts for about 76 percent of his wealth, Rupert also possesses nearly 25-percent ownership in Reinet Investments. Established in 2008, Reinet serves as a holding entity for Richemont’s stake in British American Tobacco, facilitated through the Anton Rupert Trust, based in South Africa.

As of the time of writing this report, the market value of Rupert’s stake in Reinet Investments stands at $1.05 billion, further cementing his stature as a prominent and influential businessman.

  1. Remgro

Johann Rupert’s billion-dollar fortune includes a stake in Remgro, an investment vehicle-based in Stellenbosch, South Africa, with holdings in over 30 companies. Remgro recently made a significant investment by acquiring South African healthcare group Mediclinic International.

This acquisition, facilitated by a consortium that includes SAS Shipping Agencies Services Sarl (a subsidiary of MSC Mediterranean Shipping Co SA), has propelled Remgro’s share price to surge by more than nine percent since the start of the year. Consequently, the market value of Rupert’s stake in the company has now reached $370 million.

  1. FirstRand Limited

Johann Rupert’s extensive investment portfolio includes a notable share in FirstRand, the largest financial services group in Africa in terms of market capitalization. Since the beginning of the year, FirstRand’s shares have surged by more than 10 percent, propelling the group’s market capitalization beyond $21 billion.

Considering the current price level, Rupert’s stake in FirstRand has reached a significant value of $136 million.