Home » South Africa’s richest man Johann Rupert’s net worth declines by $600 million

South Africa’s richest man Johann Rupert’s net worth declines by $600 million

South African billionaire Johann Rupert slips from world's 145th to 155th wealthiest

by Omokolade Ajayi
Johann Rupert

Key Points: 

  • Johann Rupert’s net worth has dropped $600 million in 16 days, driven by a Richemont stock decline.
  • Despite recent losses, Rupert’s wealth increased $1.19 billion year-to-date, anchored by diverse investments.
  • He remains South Africa’s wealthiest person and Africa’s second-richest, trailing Aliko Dangote, despite slipping from 145th to 155th on the Bloomberg Billionaire Index.

Johann Rupert, one of the world’s leading luxury magnates and South Africa’s richest man, has seen his net worth decline by $600 million in the past 16 days. This slump follows a surge earlier this month that pushed his net worth above $14 billion for the first time since March.

According to the Bloomberg Billionaires Index, which tracks the fortune of the world’s richest individuals, Rupert’s net worth has declined by $600 million, from $14.2 billion on June 8 to $13.6 billion at the time of drafting this report.

This decline has resulted in Rupert falling from the 145th to the 155th position on the global billionaire ranking. Despite this, he remains South Africa’s richest individual and Africa’s second-richest person, trailing Nigerian billionaire Aliko Dangote.

Richemont stock dip sinks Rupert’s wealth

The significant decrease in Rupert’s net worth is primarily attributed to the recent decline in the market value of his stake in Richemont, a Swiss luxury goods conglomerate.

Richemont, which owns prestigious brands such as Cartier, Chloe, Dunhill, Alaia, and Delvaux, has seen its shares drop by 8.3 percent since June 7, falling from CHF150.1 ($168) to CHF137.55 ($154).

Rupert holds 6.26 million “A” shares and 522 million “B” shares in Richemont, giving him a 10.18 percent stake and 51 percent voting rights. The market value of his stake in Richemont has decreased from $10.3 billion on June 7 to $9.53 billion currently.

Johann Rupert gains $1.19 billion YTD

Despite this setback, Rupert remains among the African billionaires who have enjoyed significant wealth gains this year. His year-to-date (YTD) wealth increase stands at $1.19 billion.

Other African billionaires who have seen similar gains include Nicky Oppenheimer, whose fortune has surged by $1.08 billion, and Eswatini’s richest man, Natie Kirsh, whose net worth has increased by $1.01 billion since January 1.

Rupert’s diverse investment portfolio

While his commanding stake in Richemont forms the cornerstone of his wealth, Johann Rupert has diversified his investment portfolio across a spectrum of industries.

Key holdings include a $366 million stake in Remgro, a $1.26 billion interest in Reinet Investments, and a $153 million investment in FirstRand, collectively adding an estimated $1.78 billion to his net worth.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.