Despite the slump in his net worth, Oppenheimer still ranks as the second-richest man in South Africa.
Johann Rupert
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The billion-dollar drop in his net worth brings his year-to-date wealth loss to $3.55 billion.
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Grindrod is a freight logistics and shipping services company owned in part by Remgro.
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Remgro has also completed the sale of a 30-percent stake in South Africa’s largest wine and spirits producer, Distell Group.
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Despite his year-to-date wealth loss, Rupert remains not only one of Africa’s richest men, but also one of the world’s richest billionaires.
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The recent drop in his net worth brings his year-to-date wealth loss to $2.79 billion.
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South African billionaire Johann Rupert’s Richemont to sell stake in loss-making YNAP to Fartech, Emirati tycoon
Richemont will examine the fair value write down pertaining to its investment in YNAP at $2.7 billion.
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The multimillion-dollar drop in his net worth can be attributed to the performance of his 9.14-percent stake in Richemont.
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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.