The multimillion-dollar drop in his net worth can be attributed to the performance of his 9.14-percent stake in Richemont.
Johann Rupert
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Seacom is privately funded and 75 percent African-owned.
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Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
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South Africa’s richest man Johann Rupert gains $1 billion in July as investors react to Richemont’s Q1 results
The majority of Rupert’s fortune stems from his stake in Richemont.
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Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
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The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.
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South African billionaire Johann Rupert’s luxury company records over $5.2 billion in revenue in Q1 2023
Despite the strong performance, Richemont shares have fallen 5.7 percent since this morning.
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Mediclinic gains over $690 million four weeks after Johann Rupert’s Remgro launches takeover bid
Similarly, Remgro’s 44.6-percent stake in Mediclinc has increased in value by $281.5 million.
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Consortium backed by South African billionaire Johann Rupert prepares higher Mediclinic bid
The news comes nearly four weeks after Mediclinic rejected an acquisition bid from Rupert’s Remgro.
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South African billionaire Johann Rupert-controlled Reinet may trim stake in British American Tobacco
Reinet Investments S.C.A. is a Luxembourg-based investment vehicle.