Johann Rupert richest

Money makes money and these three South Africans have made a lot of it over the years. And by a lot, we mean a LOT! Photo: Duif du Toit / Gallo Images

Revealed: Here’s why Johann Rupert’s wealth has skyrocketed this year

SA’s richest citizen, Johann Rupert, is $4 billion better off than he was this time last year – so what’s behind these major financial gains?

Johann Rupert richest

Money makes money and these three South Africans have made a lot of it over the years. And by a lot, we mean a LOT! Photo: Duif du Toit / Gallo Images

Forbes Africa has updated its list of dollar-billionaires on the continent for 2022 – and it makes for very pleasant reading if you’re Johann Rupert. The investment tycoon is one of 18 members in this exclusive club, and he’s officially ‘the biggest wealth gainer’ over the past 12 months. So, how did he do it?

Johann Rupert: How has his wealth increased this year?

Johann Rupert is now the second-richest person in Africa, trailing only to Nigerian cement magnate Aliko Dangote, who is worth roughly $13.9 billion. Rupert himself has an estimated fortune of $11 billion, but he has significantly closed the gap to the top-spot after a whirlwind year.

The Stellenbosch-based billionaire wasn’t even the richest man in South Africa this time last year, but a surge in his net worth has seen him leapfrog Nicky Oppenheimer in the table. That’s because Rupert’s luxury goods firm, Compagnie Financiere Richemont, saw its share price skyrocket by 60%…

“Luxury goods magnate Johann Rupert is in second. He experienced a more than 60% surge in the share price of his luxury goods firm Compagnie Financiere Richemont – maker of Cartier watches and Montblanc pens – pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest gainer on the list.”

“Cartier and Montblanc was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father Anton formed in the 1940s. Johann Rupert owns 7% of diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding company based in Luxembourg.”

Forbes Africa

The dollar-billionaires of South Africa

With an estimated $11 billion – or R170 billion – in the bank, Bloomberg’s official billionaires index places Johann Rupert as the 182nd richest person on the planet, ahead of Melinda Gates and Patrick Soon-Shiong.

Patrice Motsepe, Koos Bekker, and Michiel le Roux make up the other dollar-billionaires living in South Africa. Of our five ultra-wealthy citizens, only Bekker saw his net worth decrease in the past 12 months. Nonetheless, with $2.7 billion still to his name, we don’t think the Naspers chair will be losing that much sleep.