South Africa’s richest man Johann Rupert has faced another significant decline in net worth over the past 14 days, adding to the $3.4-billion wealth loss he suffered between July 14 and Sept. 22, 2023.
According to data tracked by the Bloomberg Billionaires Index, which monitors the wealth of the world’s most affluent individuals, Rupert has seen his net worth decline by $600 million over the last 14 days.
Since Sept. 22, exactly two weeks ago, Rupert’s net worth has declined from $11.3 billion to its present standing at $10.7 billion. This substantial decline in his net worth has significantly overturned his year-to-date wealth gains into a loss of $198 million.
Data tracked by Billionaires.africa reveals that the recent $600-million decrease in his fortune is closely tied to the continued decline in the market value of his 10.18-percent stake in Richemont, with shares in the company falling from CHF117.05 ($127.59) on Sept. 22 to CHF111.65 ($121.70).
Rupert’s stake in Richemont is held through Compagnie Financiere Rupert. As of March 31, 2023, his stake comprised 6,263,000 Richemont “A” shares and 522,000,000 Richemont “B” shares, collectively representing 10.18 percent of the company’s capital and a controlling majority of 51 percent of its voting rights.
Going by Bloomberg’s figures, Rupert’s stake in Richemont has declined by $500 million, falling from $7.91 billion as of Sept. 22 down to $7.41 billion as of writing. His holdings in Reinet Investments and Remgro are also valued at $1.05 billion and $368 million, respectively.
Despite this recent setback, Rupert retains his status as South Africa’s richest individual, ahead of Nicky Oppenheimer. With a net worth of $10.7 billion, he is the second-richest person in Africa and ranks 174th among the world’s richest individuals.
