Johann Rupert is South Africa’s wealthiest businessman, with Forbes estimating his net worth to be around $9.7 billion – resulting from his substantial stakes in luxury goods company Richemont and investment holdings Remgro and Reinet Investments.
The Rupert family has extended their support towards organizations such as the Nelson Mandela Children’s Fund, the SA College for Tourism, and Ikamva Labantu. Additionally, the Rupert Education Foundation is dedicated to promoting various educational development programs that aim to empower and uplift the children and youth of South Africa.
This is also the case for Johann Rupert. His main source of wealth includes his significant holdings in Richemont, the Switzerland-based luxury holding company, as well as stakes in Remgro, an investment vehicle-based in South Africa, and Reinet Investments.Forbes estimates that the majority of Rupert’s $9.7 billion wealth can be attributed to his impressive estimated 9.14% stake in Richemont. This stake represents approximately 76% of his fortune.
Rupert also holds a considerable stake in FirstRand – the largest financial services group in Africa in terms of market capitalisation – and his share is estimated to be valued at $136 million .A large part of Richemont’s portfolio consists of jewellery and luxury watch producers, but some of its subsidiaries also produce leather goods, pens, firearms, and luxury clothing.
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Source: Fin24 - 🏆 21. / 63 Read more »