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After seeing his net worth fall to $14.9 billion earlier this month, South Africa’s richest man Johann Rupert has regained $1.2 billion in just over two weeks, lifting his fortune to $16.1 billion.
The rebound strengthens his lead as South Africa’s wealthiest person and keeps him firmly behind Nigerian industrialist Aliko Dangote as Africa’s second-richest individual.
Johann Rupert’s fortune climbs with Richemont
Rupert, who chairs Swiss luxury group Richemont, has seen his fortune climb from $14.9 billion on Aug. 11 to $16.1 billion at the time of this report, according to the Bloomberg Billionaires Index. That valuation places him as the world’s 156th richest billionaire.
The recovery follows a sharp decline in July and early August, when his wealth dropped from more than $17 billion to below $15 billion. The shift is closely tied to Richemont, the centerpiece of his fortune. Rupert owns 10.18 percent of the group and holds 51 percent of its voting rights.
Richemont shares on the SIX Swiss Exchange in Zurich have risen more than 7.4 percent, pushing its market capitalization to $92 billion. As a result, the market value of Rupert’s stake increased from $10.1 billion on Aug. 11 to about $11 billion.
Richemont expands jewelry with Florence store
The rise in Richemont’s stock comes as it strengthens its jewelry division, a key driver of sales. In June, its French high-jewelry maison Van Cleef & Arpels opened a flagship boutique in Florence, Italy, adding a presence in one of Europe’s most culturally significant cities.
The new boutique, located near the Ponte Vecchio and Palazzo Strozzi, spans two floors and 260 square meters. It features silk-draped metallic mesh panels, custom chandeliers, Murano glass vitrines, and Art Deco interiors, combining Florence’s Renaissance character with the Maison’s signature style.
Richemont pushes deeper into Europe, Asia
Richemont has also strengthened its European footprint with Panerai’s first boutique in Stuttgart, Germany, launched in partnership with long-time retail partner Gerhard D. Wempe GmbH & Co. KG. The move reinforces Panerai’s presence in one of Europe’s key luxury markets.
Beyond Europe, Richemont is introducing its recently acquired Italian jewelry brand, Vhernier, to Asia. The brand, known for its modern designs and fine craftsmanship, will open a boutique in Hong Kong’s Peninsula Hotel in the Tsim Sha Tsui district.
The expansion comes amid growing demand for luxury goods in Asia and underscores Richemont’s push into markets where appetite for high-end products remains strong.
