Rupert expressed his worries during Richemont’s annual meeting in Geneva on Wednesday.
Compagnie Financiere Richemont
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Billionaire Johann Rupert’s Richemont sees shares dive 14 percent on fears over China slowdown
Rupert’s net worth fell by $896 million as a result of the 14 percent drop in Richemont shares on Friday.
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Despite a $999-million plunge in his net worth, Rupert remains South Africa’s richest man and one of Africa’s wealthiest billionaires.
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The double-digit percentage decline in Richemont shares caused Rupert’s net worth to fall by more than 10.3 percent.
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The gains were due to a rise in the share price of Compagnie Financiere Richemont and Distell Group.