Africa’s richest title returns to Johann Rupert, as Dangote loses $538 million
Rupert, who had briefly conceded the top spot, managed to secure his lead again with a net worth of $10.6 billion.
Rupert, who had briefly conceded the top spot, managed to secure his lead again with a net worth of $10.6 billion.
Despite the latest slump in his fortune, Rupert still retains his position as South Africa’s richest man.
Rupert, who serves as Richemont’s chairman, holds a significant interest in the company through Compagnie Financiere Rupert.
Finalized in a private transaction, the deal marks a significant step for Richemont.
The substantial $800-million loss in Rupert’s wealth can be directly attributed to the recent decrease in the market value of his 9.14-percent stake in Richemont.
Despite the impressive financial performance, Richemont experienced an unexpected drop in share price on the Swiss Exchange.
Rupert’s journey towards prominence started in the late 1980s, when he assumed the role of chairman at Rembrandt.
The decline in Rupert’s net worth can be attributed to the reduction in the market value of his 9.14-percent stake in Richemont.
With an impressive global ranking of 145 among the world’s wealthiest people, Rupert has constructed a diverse investment portfolio.
Rupert has seen his net worth slide by $800 million amid Richemont’s share slump.
Richemont recently published its latest full-year financial report, which shows a 21-percent growth in jewelry sales.
Rupert said the company’s brands are well-positioned to meet strong demand driven by the resumption of travel by customers from China.
Despite the decline in his net worth, Rupert remains not only the second-richest man in Africa but also the richest man in South Africa.
Rupert is the richest man in South Africa,
Rupert has developed a platform that offers a gamut of features enabling owners to report theft or loss.
Rupert’s net worth has now declined from $12.7 billion on March 6 to $12.5 billion at the time of writing.