SA billionaire Johann Rupert’s Richemont rules out plans to invest in loss-making British luxury retailer
Last year, Rupert’s Richemont agreed to sell a 47.5-percent stake in its Yoox Net-A-Porter (YNAP) fashion and accessories business to Farfetch.
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Last year, Rupert’s Richemont agreed to sell a 47.5-percent stake in its Yoox Net-A-Porter (YNAP) fashion and accessories business to Farfetch.
The sudden boost in his wealth is attributed to the recent pullback in the share price of Richemont, a leading luxury goods group where Rupert holds a substantial stake.
Richemont led by Rupert and celebrated for its premium brands posted a modest three-percent increase in profit.
With this latest increase in his net worth, Johann Rupert has solidified his status as South Africa’s richest individual
Rupert, who serves as Richemont’s chairman, holds a substantial interest in the company through Compagnie Financiere Rupert.
Rupert, South Africa’s richest man, and his wife are the founders of the Free Market Foundation.
Motsepe and Rupert, the majority shareholders of the Pretoria-based Blue Bulls Company, recently acquired a 74-percent stake in Boland Rugby Union.
Data from the Bloomberg Billionaires Index reveals that Rupert’s net worth slumped from $14.4 billion on July 16 to $10.7 billion.
Despite this recent setback, Rupert retains his status as South Africa’s richest man, ahead of Nicky Oppenheimer.
Remgro Limited is a leading investment holding company led by South Africa’s richest man Johann Rupert.
Despite this recent setback, Rupert retains his status as South Africa’s wealthiest individual, surpassing fellow South African magnate Nicky Oppenheimer.
Rupert expressed his worries during Richemont’s annual meeting in Geneva on Wednesday.
Despite the latest slump in his fortune, Rupert still retains his position as South Africa’s richest man, ahead of Nicky Oppenheimer.
Caroline Rupert, the only daughter of South Africa’s richest man, is the founder of Kathaka Advisers Limited, a single family office.
With his net worth presently standing at $11 billion, the disparity in wealth between Dangote and Rupert becomes evident.
Rupert, who had briefly conceded the top spot, managed to secure his lead again with a net worth of $10.6 billion.