South Africa’s richest man Johann Rupert loses $1 billion in Q1 2022
Despite a $999-million plunge in his net worth, Rupert remains South Africa’s richest man and one of Africa’s wealthiest billionaires.
Despite a $999-million plunge in his net worth, Rupert remains South Africa’s richest man and one of Africa’s wealthiest billionaires.
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.
The billionaire has lost more than $286 million in a single day.
SEACOM is privately funded and about 75-percent African-owned.
Rupert’s net worth has dropped by more than $1.8 billion this year.
The double-digit percentage decline in Richemont shares caused Rupert’s net worth to fall by more than 10.3 percent.
Rupert’s net worth is valued at $11.7 billion, making him the 179th richest man in the world and the second-wealthiest man in Africa.
The move by SEACOM represents a significant step forward in its five-year strategic expansion plans.
The Swiss luxury goods firm reported revenues of $6.42 billion in the three months between October and December 2021.
The revenue posted in the third quarter of Richemont’s current financial period represents a 32-percent increase.
Rupert’s net worth got a shot in the arm in 2021 due to sustained buying interest in Richemont and Remgro shares throughout the year.
Rupert is one of the top five richest billionaires in Africa with a fortune amounting to over $11.8 billion.
Remgro is a diversified investment holding established in the 1940s by the late Dr. Anton Rupert.
Rupert’s Grindrod Shipping is a global shipping company dual-listed on NASDAQ and the Johannesburg Stock Exchange.
Rupert is the richest man in South Africa with a fortune worth more than $12.1 billion.
A $10,000 investment in Richemont on Dec. 31 2020 is worth $18,372 today.