South Africa’s Johann Rupert‘s Net Worth Rises by N178.4bn in One Week, Dangote Earns N10.3bn
- Dangote’s position as Africa’s richest man is threatened by a South African billionaire
- Johann Rupert is currently South Africa’s richest man with an estimated net worth of $11.7 billion
- Rupert has made over N178 billion in the first week of 2023 to take his wealth up a notch
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Africa’s second-richest man, Johann Rupert saw his net worth increase by $400 million, about N178.4 billion in the first week of January 2023.
The South African had seen his net worth decline by one $1.09 billion in 2022 due to a fall in the market share of his luxury goods holding firm, Compagnie Financiere Richemont.
Source: Getty Images
Rupert's main source of wealth
His main source of wealth is his 9.14 per cent ownership stake in the company. The firm has other valuable brands such as Chloe, Dunhill, Alaa, Cartier and Delvaux.
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He has seen his wealth skyrocket from $10.9 billion to $11.7 billion since the beginning of 2023, Bloomberg Billionaire Index states.
Rupert’s stocks have witnessed an increase as investors expect his luxury goods firm to post strong financial earnings this year.
The rise in the billionaire’s stakes has aided him to overtake Goh Cheng Liang, a Singaporean businessman. Liang owns a majority of Nippon Paint, Asia’s largest paint manufacturer.
Johann Rupert currently occupies the 158th position on Bloomberg’s Billionaire Index with a net worth of $11.7 billion.
Early life, family and businesses
The eldest child of billionaire industrialist, Anton Rupert and his wife Huberte, Johann was born on June 1, 1950. His father established the tobacco company, Rembrandt Group in 1948.
He studied corporate law at the University of Stellenbosch and economics after he finished high school.
According to reports, he moved to New York and worked as a trainee with Chade Manhattan for five years. He also worked for Lazard Freres and returned to South Africa and founded Rand Merchant Bank.
The 72-year-old joined the family business a few years after the bank merged with Rand Consolidated Investments.
Rembrandt began trading in wine and spirits as well as many others such as mining, banking, food and packaging. He later succeeded his father as Chairman of Rembrandt in the late 1980s.
Aliko Dangote Begins 2023 as the world’s 78th richest man, although his fortune reduces by $400M from 2022
Legit.ng report states that Aliko Dangote, Nigeria's richest man kick-off 2023 as the world's 78th wealthiest billionaire, up 22 places from last year's position of 100 on the Bloomberg billionaire list.
Despite the higher ranking, Dangote's fortune is $400 million (N182 billion) lower according to Bloomberg.
Despite the higher ranking, Dangote's fortune is $400 million (N182 billion) lower according to Bloomberg.
Source: Legit.ng
