South Africa’s richest man Johann Rupert loses $1.8 billion in recent weeks

Key Points

• Johann Rupert’s net worth drops $1.8 billion from $17.1 billion to $15.3 billion amid Richemont share price decline.
• Richemont’s first-quarter revenue rises to $6.3 billion, driven by strong jewelry sales in Europe, Americas, and the Middle East.
• Richemont maintains $8.6 billion cash despite €426 million ($495 million) divestment, focusing on core luxury brands and simplified operations.

After reaching a peak net worth of $17.1 billion in July, South Africa’s richest man Johann Rupert has seen his fortune drop by $1.8 billion over the past 44 days. The decline stems from a fall in the market value of his stake in Richemont, the Swiss luxury group he chairs.

Rupert loses $1.8 billion

The Bloomberg Billionaires Index, which tracks the wealth of the world’s 500 richest people, shows that Rupert, Africa’s second-richest person behind Nigerian industrialist Aliko Dangote, saw his net worth fall from $17.1 billion on July 2 to $15.3 billion at the time of this report.

The $1.8 billion drop is tied directly to Richemont’s share price, which has fallen 12.7 percent on the SIX Swiss Exchange over the same period, pushing the company’s market value below $80 billion. For Rupert, who owns 10.18 percent of Richemont and controls 51 percent of its voting rights, the decline reduced the market value of his stake from $12.1 billion to $10.3 billion.

Richemont revenue grows $6.3 billion

Richemont’s first-quarter results, covering the three months ended June 30, 2025, show sales of $6.3 billion. This was supported by strong demand for high-end jewelry in Europe, the Americas, and the Middle East, which helped offset weaker trends in Asia and a fall in watch sales.

In the first quarter of its fiscal year, Richemont reported a 6 percent increase in sales at constant exchange rates and a 2.73 percent rise at actual rates, with revenue climbing from €5.27 billion ($6.12 billion) to €5.41 billion ($6.29 billion). These results underline the company’s continued influence in the global luxury market.

Luxury group simplifies operations, retains cash

The group’s cash position remains solid at €7.4 billion ($8.6 billion), even after transferring €426 million ($495 million) to YOOX NET-A-PORTER following its sale to Mytheresa in April. This divestment is part of Richemont’s ongoing effort to simplify its operations and concentrate on its core luxury brands.