CARNOUSTIE, SCOTLAND – OCTOBER 05: Johann Rupert plays a shot during day two of the 2018 Alfred Dunhill Links Championship at Carnoustie Golf Links on October 5, 2018 in, Carnoustie, Scotland. Photo – Warren Little / Getty Images.
CARNOUSTIE, SCOTLAND – OCTOBER 05: Johann Rupert plays a shot during day two of the 2018 Alfred Dunhill Links Championship at Carnoustie Golf Links on October 5, 2018 in, Carnoustie, Scotland. Photo – Warren Little / Getty Images.
Jacob Zuma certainly didn’t take any prisoners during his first day at the State Capture Inquiry. The former president named names and called out several of his former colleagues for wrongdoing. Through stories of espionage and assassinations, Msholozi gave an impassioned defence – and even implicated Johann Rupert.
The fantastic tales, which spanned for three hours of Zuma’s appearance, attempted to portray the 77-year-old as the victim of a conspiracy which started in the 1990s. Zuma claims his name has been sullied by apartheid forces, which are still operating to this day.
Jacob Zuma on Johann Rupert
However, it was what he had to say about Johann Rupert that turned the most heads on Monday. He’s the second-richest man in South Africa, but Zuma had nothing complimentary to say about the billionaire.
JZ made the extraordinary allegation that Rupert threatened to “tank the Rand” if Pravin Gordhan was fired as finance minister in 2017. Sure enough, PG was axed during the now-infamous midnight cabinet reshuffle, and ZAR took a nosedive. However, the erratic decision – and not outsider interference – was more than enough to spook the currency:
Zuma says Transport Minister Fikile Mbalula once attended a function at the farm of the Rupert’s “they said to him if Zuma removes Pravin Gordhan (as Finance Minister) they will shut the country down” “they did indeed do that, they made the rand fall” #StateCaptureInquiry
— POWER987News (@POWER987News) July 15, 2019
Is Zuma telling the truth at the State Capture Inquiry?
The revelation has sparked quite the reaction across South Africa. Many people took what Jacob Zuma said at face value, and expressed outrage that the Stellenbosch-based businessman was trying to dictate how the economy functioned.
Others, however, took things with a pinch of salt. To destroy the value of the Rand would mean wiping billions off of his own personal net worth. It’s not exactly the type of thing you’d expect from a mega-rich tycoon.
We’re expecting some sort of response from Johann Rupert to address the controversy. However, it’s not likely that he will challenge the claims by appearing at the State Capture Inquiry.
Johann Rupert net worth and business history
Age: 69
Net worth: $5.3 billion / R74.2 billion
Source of wealth: Rupert controls the world’s largest luxury watchmaker, Cie. Financiere Richemont, through a family trust. His Stellenbosch-based investment vehicle Remgro also brings home the bacon.
