After a challenging period, South Africa’s richest person Johann Rupert has seen his net worth rebound by $200 million in the past 24 hours. Between mid-March and mid-April, his wealth declined by $2 billion, falling from $14.3 billion to $12.3 billion.
According to the Bloomberg Billionaires Index, Rupert’s net worth now stands at $12.5 billion, rising from $12.3 billion on Mon., April 15. This represents a $200-million increase from the prior day’s $12.3 billion. Rupert chairs Richemont, the Swiss luxury goods holding company that owns Cartier, Van Cleef & Arpels, and Chloé, among other prestigious brands.
Rupert’s net worth climbs on Richemont share price surge
The rise in Rupert’s fortune is linked to the recent rebound in Richemont’s share price on the SIX Swiss Exchange. The surge in share price has pushed the market value of Rupert’s stake in the luxury goods holding company above $8.7 billion.
The South African billionaire holds a significant stake in Richemont, with 6.26 million “A” shares and 522 million “B” shares. This translates to a 10.18-percent ownership stake and grants him control more than 51 percent of voting rights.
Beyond Richemont, Rupert’s portfolio boasts other valuable assets. These include a $292-million stake in Remgro Limited, a $1.17-billion interest in Reinet Investment, and a $114-million investment in FirstRand. These additional holdings contribute an estimated $1.576 billion to his net worth.
World ranking and South African supremacy
With a net worth of $12.5 billion, Rupert presently ranks as the 168th richest person in the world. He remains the richest person in South Africa, surpassing fellow businessman Nicky Oppenheimer, whose net worth stands at $10.4 billion.
The recent $200-million increase in Rupert’s net worth has more than offset his year-to-date losses, which amounted to $145.1 million a day prior. This shift translates to a net year-to-date gain of $54.9 million, placing him among the African billionaires who have seen significant wealth increases this year.
