what are the facts about johann rupert?

On Friday, June 16, Forbes Magazine declared South African billionaire, Johann Rupert, ”Africa’s richest man,” displacing Nigeria’s Aliko Dangote, who has held that title consecutively for 10 years.

Forbes real-time Global Billionaires Ranking pegged Rupert’s net worth at $12 billion and Dangote’s at $10.8 billion. Dangote’s net worth took a massive dip due to the naira depreciation caused by the Central Bank of Nigeria’s decision to auction the dollar at a relatively lower rate than the official market price.

The central bank sold the dollar almost 30 per cent cheaper.

With Johanna’s new status as Africa’s richest man, here are important things to know about him.

1, 73 years old Rupert was born in Stellenbosch, South Africa, on June 1, 1950 to business tycoon Anton Rupert and his wife, Hurberte. He is the eldest of his parent’s children.

2, Rupert studied economics and company law at the University of Stellenbosch but dropped out to pursue a business career.

3, In 2004, the same university honoured Rupert with an honorary degree in economics. In 2008, he received another honorary doctorate from Nelson Mandela Metropolitan University.

4, Rupert is married to Gaynor Rupert. The couple has three children together; Anton Ruper Jr., Caroline Rupert, and Hanneli Rupert.

5, In 1979, he returned to South Africa after a while in the US and established Rand Merchant Bank where he remained CEO until 1984 when the company merged to form RMB Holdings.

6, Upon leaving RMB, Rupert joined his father’s cigarette manufacturing company, Rembrandt Group, founded in 1948.

7, In 1988, Rupert founded Compagnie Financiere Richemont, a Switzerland-based luxury goods holding company. In the same year, he was appointed Non-Executive Director of Rothmans International plc and was also honoured by the Sunday Times as the “Businessman of the Year.”

8, In 1989, Rupert became the vice chairman of his father’s company and was made chairman of the same company, Rembrandt Group Limited, in 1991.

9, in 1997, Rupert became the Non-Executive Chairman of Gold Fields South Africa Ltd.

10, Rupert is also a golf enthusiast. In 1990, he established the Laureus Sport for Good Foundation. The foundation is aimed at addressing social issues through sports and has helped with about 675 projects globally.

Johann Rupert is South Africa’s wealthiest businessman, with Forbes estimating his net worth to be around $9.7 billion (R182.7 billion) – resulting from his substantial stakes in luxury goods company Richemont and investment holdings Remgro and Reinet Investments.

As one of the richest people in Africa, The Rupert companies have employed thousands of people, and Johann Rupert has been the highest individual taxpayer in South Africa for the past 20 years.

Johann Rupert and his family are also known for their philanthropic efforts, with a rich tradition of backing educational institutions, programs, and environmental initiatives in South Africa.

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.

Another interesting fact noted by Forbes is that Rupert donates all the wages he earns as a chairman or a board member at various companies to multiple charities.

How Rupert made his wealth

When considering the massive R182.7 billion amassed by Rupert, it’s not a simple matter of saving. In Rupert’s case, the billionaire has significant investments in a multitude of local companies.

According to Forbes, most of the world’s billionaires accumulated their wealth through finance and investments. This avenue accounts for the highest number of billionaires (372), with most finding their wealth through hedge funds, private equity, venture capitalism, and fintech.

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.

Additionally, Rupert also possesses nearly 25% ownership of Reinet Investments, which is estimated to have a market value of $1.05 billion (R19.73 billion).

Another notable contributor to Rupert’s fortune is his stake in investment holdings company Remgro – which holds stakes in over 30 companies. The market value of Rupert’s stake in the company has now reached $370 million (R6.9 billion).

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 (R2.5 billion).

Today, Rupert is the chairman of Remgro, Richemont and Reinet.

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.

Remgro’s diverse portfolio spans various industries, including healthcare, consumer products, media and financial services. More than 70% of the company’s portfolio consists of local shares.

Pension Insurance Corporation is Reinet’s largest investment, making up 47.5% of the company’s portfolio, while British American Tobacco comes in second, taking up 31%. Other investments include Trilantic Capital Partners, TruArc Partners and United States land development and mortgages.

The three companies have shareholdings in a vast amount of local and international companies that span numerous industries, which are shown in the infographic below, as outlined by Daily Investor.