South Africa’s wealthiest man Johann Rupert gains $510 million in 14 days after $270-million loss in September

South African billionaire Johann Rupert has seen his net worth increase by $510 million since early October as a surge in the valuation of his companies pushed his net worth above the $9.5-billion mark.

Research conducted by Billionaires.Africa revealed that his net worth since the start of October has increased from a valuation of $9.07 billion to $9.58 billion as of the time of writing.

This translates to a 5.6-percent net-worth gain. This follows a $270-million decline in his wealth in September after the market value of his shareholdings declined due to a dip in the share price of Reinets, Remgro and Compagnie Franciere Richemont.

Rupert, the chairman of Compagnie Financiere Richemont, holds a 0.5-percent stake in the publicly traded luxury goods manufacturer and retailer.

In addition, he has a beneficial 25-percent stake in Reinet Investments and a one-percent stake in Remgro, a holding company with investments in more than 30 companies.

Since the beginning of October, the market value of his stakes in Reinet, Remgro and Richemont have increased by at least a single digit, causing his net worth to rise by more than $500 million in the past 14 days.

The net-worth gain makes him the only African to have recorded a wealth gain of more than $1.5 billion since the start of the year, ahead of Aliko Dangote, who has gained $1.4 billion so far.

With his net worth valued at $9.58 billion, Rupert is South Africa’s richest man, $1.53-billion richer than Nicky Oppenheimer, who has a net worth of $8.05 billion.

Rupert’s current wealth valuation makes him the 250th richest man in the world.