Table of Contents
Key Points
- Johann Rupert’s net worth surged $1.62 billion in 2024, reaching $14 billion, making him Africa’s richest individual, surpassing Aliko Dangote.
- Rupert’s wealth increase is driven by a nearly 20% rise in Richemont’s stock, boosting his stake value to $9.63 billion.
- Rupert now ranks 147th globally, up from 162nd, with notable wealth gains surpassing peers like Natie Kirsh and Nicky Oppenheimer.
South African billionaire, Johann Rupert, the chairman of Swiss luxury goods conglomerate Richemont, has soared to the top of the African wealth pyramid, becoming the continent’s richest individual and recording the most significant wealth gains this year, according to the Bloomberg Billionaires Index.
Rupert’s net worth has surged by $1.62 billion in 2024, climbing from $12.4 billion at the start of the year to $14 billion, as of this report. This remarkable increase has propelled Rupert ahead of Nigerian billionaire Aliko Dangote, who previously held the title of Africa’s wealthiest person.
Richemont stake drives wealth growth
The substantial rise in Rupert’s fortune is attributed to his investments in Richemont, which boasts prestigious brands including Cartier, Montblanc, and Van Cleef & Arpels. Rupert’s holdings in Richemont include 6.26 million “A” shares and 522 million “B” shares, representing a 10.18 percent equity stake and 51 percent voting rights.
The increase in Richemont’s shares has been robust, with the company’s stock on the SIX Swiss Stock Exchange rising nearly 20 percent in 2024, pushing its market capitalization toward $85 billion. Rupert’s stake has jumped to $9.63 billion from $8.2 billion at the start of the year.
Comparison with peers
Rupert’s surge in net worth has not only solidified his position at the top of the African wealth pyramid but also improved his global standing, elevating him to the 147th richest individual worldwide from 162nd at the start of the year.
According to Bloomberg’s real-time billionaires index, Rupert’s wealth gain this year stands out notably among his peers. Swazi billionaire Natie Kirsh and South African businessman Nicky Oppenheimer are the closest contenders, with year-to-date wealth gains of $1.54 billion and $1.45 billion, respectively.
Diverse investment portfolio
Johann Rupert’s significant wealth gains in 2024 underscore Richemont’s strong performance and the success of his diverse investments. His expanding financial empire is boosting his influence among global billionaires.
Beyond his Richemont investments, Rupert holds a 25 percent stake in Reinet Investments, valued at $1.32 billion. Reinet, founded in 2008, oversees Richemont’s stake in British American Tobacco. He also owns a $384 million stake in Remgro, a Stellenbosch-based investment firm with interests in over 30 companies.
