South African billionaire Johann Rupert, the chairman of luxury goods giant Richemont, has solidified his position as South Africa’s richest man as his fortune surged by $1.2 billion in just 12 days, pushing his net worth to the $13.2-billion milestone.
The Bloomberg Billionaires Index, which tracks the wealth of the world’s top 500 billionaires, ranks Rupert as the wealthiest man in South Africa and the second-richest on the African continent, trailing only Nigerian billionaire Aliko Dangote. His net worth stands at an impressive $13.2 billion, a significant increase from the $12 billion reported on Jan. 19.
The $1.2-billion surge in his fortune, translating to an average gain of $100 million per day since Jan. 19, is attributed to the performance of his 9.14-percent stake in Richemont, a leading luxury group that owns premium brands such as Cartier, Chloe, Dunhill, Alaa, and Delvaux.
Rupert’s wealth soars amid recent gains in Richemont shares
Richemont shares have soared more than 11.73 percent in the past 12 days, scaling new heights on the SIX Swiss Exchange and propelling the luxury goods behemoth’s market cap past $80 billion. This upswing has showered windfalls on shareholders, particularly Compagnie Financiere Rupert, the investment vehicle of South African tycoon.
Rupert, a titan of the global luxury landscape, holds a formidable stake in Richemont — 6.26 million “A” shares and 522 million “B” shares, translating to 10.18 percent of the company’s capital and a commanding 51 percent of voting rights. Bloomberg estimates this stake’s present value at $9.26 billion, accounting for the bulk of his $13.2-billion fortune.
Rupert’s $1.79-billion portfolio boost and soaring fortune in luxury and beyond
While his stake in luxury giant Richemont remains the cornerstone of his wealth, Rupert has woven a broader tapestry of investments across diverse sectors.
Remgro Limited, Reinet Investment, and FirstRand are just some gems in his portfolio, adding an estimated $1.79 billion to his net worth at the time of writing. This strategic diversification, coupled with a recent surge in his Richemont holdings, has propelled Rupert to new heights.
His net worth now stands at a dazzling $13.2 billion, catapulting him to the 151st spot on the list of the world’s wealthiest individuals. The $1.2-billion surge in his fortune solidifies his position as one of the leading titans of the luxury goods industry.