South African billionaire Johann Rupert gains $400 million in five days
Rupert is the richest man in South Africa with a fortune worth more than $12.1 billion.
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Rupert is the richest man in South Africa with a fortune worth more than $12.1 billion.
A $10,000 investment in Richemont on Dec. 31 2020 is worth $18,372 today.
Distell is South Africa’s most expansive wine and spirits maker.
Richemont recently disclosed that it is in talks to sell off a majority stake in the loss-making online retailer YNAP.
In addition to acquiring Distell, Heineken will acquire Namibia Breweries and Ohlthaver & List.
The development puts to bed rumors of a potential $100-million capital raise to bolster the YNAP’s operations.
CIVH is a holding majority-owned by South African billionaire Johann Rupert’s Remgro Limited.
The U.S. hedge fund Third Point Management owns a 1.2-percent stake in the Swiss company.
His present net worth makes him the second richest man in Africa behind Nigerian billionaire Aliko Dangote.
In addition to selling YNAP, Rupert is also considering a capital raise of $100 million to bolster its operations.
Rupert’s net worth since the start of October has risen from $9.07 billion to $9.58 billion.
This takes his total gains this year to more than $1.5 billion.
The rise in their collective and individual wealth marks a recovery from a sharp decline last year.
Data retrieved from Bloomberg revealed that his net worth has risen from $9.61 billion to $10.30 billion.
The Sunshine Tour is a men’s professional golf tour based in Southern and East Africa.
The decline followed a drop in the value of his stakes in Reinet Investment and Remgro Limited.