Johann Rupert’s Richemont surpasses $16 billion in sales in 9M 2023
Richemont is a Swiss luxury goods holding company led by South African billionaire Johann Rupert.
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Richemont is a Swiss luxury goods holding company led by South African billionaire Johann Rupert.
Richemont is a Swiss luxury holding company.
Rupert derives most of his wealth from his 9.14-percent stake in Richemont
The market value of Rupert’s stake in Richemont fell rom $7.71 billion to $7.54 billion in December alone.
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Rupert’s net worth has risen from $8.5 billion on Nov. 3 to $10.8 billion at the time of writing.
Rupert’s equity stake in Richemont accounts for the majority of his $10.3-billion fortune.
Rupert still ranks among those African billionaires who have lost a significant portion of their wealth since the start of the year.
The group’s financial performance in the first half of 2023 builds on previous results.
Rupert is South Africa’s richest businessman.
Rupert and Oppenheimer remain the two wealthiest billionaires in South Africa.
Grindrod Limited is owned in part by Remgro Limited, Rupert’s investment holding.
Despite the slump in his net worth, Oppenheimer still ranks as the second-richest man in South Africa.
The billion-dollar drop in his net worth brings his year-to-date wealth loss to $3.55 billion.
Grindrod is a freight logistics and shipping services company owned in part by Remgro.
Remgro has also completed the sale of a 30-percent stake in South Africa’s largest wine and spirits producer, Distell Group.