The year 2021 was a fabulous year for many African billionaires. Some recorded enormous wealth gains of more than $1 billion.
The top performer on the list was Johann Rupert, the leading South African businessman and chairman of the Swiss luxury goods holding company, Compagnie Financiere Richemont S.A. (Richemont), and Remgro Limited, an investment holding company based in South Africa.
Rupert is one of Africa’s top five richest billionaires, whose fortune was estimated at more than $11.9 billion at the close of 2021. This is 49-percent more than his $8.02-billion net-worth valuation at the start of 2021. His net worth surged to an all-time high of $12.3 billion on Dec. 8.
The billionaire, who saw his wealth surge to an all-time high of $12.3 billion on Dec. 8, recorded a staggering wealth gain of $3.88 billion for the year thanks to a double-digit surge in the market value of his stakes in Remgro and Richemont.
Sustained buying interest in Richemont and Remgro shares during the year, which led to a double-digit surge in their shares, caused the market value of his positions in the companies to increase.
As a result of the wealth bump in the valuation of his shareholdings, his net worth soared from $8.02 billion on Dec. 31, 2020 to $11.9 billion on Dec. 31. This translates to a $3.88-billion gain for the billionaire throughout 2021.
With his net worth valued at $11.9 billion, Rupert is South Africa’s wealthiest man, $3.95-billion richer than Nicky Oppenheimer, who has a net worth of $7.95 billion. Rupert’s current net worth makes him the 185th richest man in the world.
