Johann Rupert, the 2nd richest person in Africa with a net worth of $9.8 billion, is a prominent South African billionaire businessman. He initially rose to the top spot as Africa’s richest person after Aliko Dangote experienced a decline in his net worth, marking the end of Dangote’s 12-year reign.
Johann Rupert, who is 73, was born in Stellenbosch into the renowned Rupert family, one of Africa’s richest families; Johann Rupert hails from one of Africa’s wealthiest families. After completing his studies at the University of Stellenbosch, he joined Remgro, a leading investment firm in South Africa, where he inherited a stake.
Known for his exceptional business acumen, Johann Rupert has successfully expanded Remgro through strategic investments and acquisitions. However, his most significant achievement is transforming a small family jewelry business into the global luxury conglomerate Richemont.
We have conducted extensive research on Johann Rupert. In this article, we will provide a comprehensive understanding of his life, remarkable career, business ventures, early life, biography, and impressive net worth.
Johann Rupert’s Net Worth
According to Forbes list, Johann Rupert’s net worth is around $9.8 billion. He has accumulated wealth primarily through ownership in Cie Financiere Richemont, a renowned luxury goods manufacturer and retailer. Rupert has also made strategic investments in companies like Remgro and Reinet.
However, his net worth has experienced fluctuations in recent months. Initially, he surpassed Aliko Dangote, Africa’s richest man, due to economic factors impacting Dangote’s fortune and the devaluation of the Nigerian naira. At that time, Rupert’s net worth was $12 billion.
However, Rupert’s net worth declined by over $1.3 billion to approximately $10.7 billion, and he eventually lost his position as Africa’s richest man to Aliko Dangote. This decline is mainly attributed to the decrease in the market value of his stake in Richemont, a Swiss luxury conglomerate known for brands like Cartier and Montblanc.
Despite the significant decline, Rupert’s net worth has seen some gains throughout the year, with an increase of approximately $129 million. This is primarily due to a slight rise in the market value of Cie Financiere Richemont shares, the company he leads as CEO. The stock is currently trading at CHF190.
Rupert’s net worth experienced another decline, dropping below the $10 billion threshold and losing $200 million in just 24 hours. Despite the recent decline and fluctuation in his net worth, Rupert still retains his position as South Africa’s richest man, ahead of fellow tycoon Nicky Oppenheimer. He currently ranks #157 on the Billionaires list and #2 on Africa’s Billionaires list for 2023.
Johann Rupert Family
Johann Rupert was born on June 1, 1950, in Stellenbosch, South Africa, into the esteemed Rupert family, known for their prominent business background in the country. His father, Late Anton Rupert, was a highly successful businessman and founded Remgro, an investment firm. Johann Rupert’s mother is Huberte Rupert. The Rupert family has amassed significant wealth over generations, making them the wealthiest dynasty in Africa.
Anton Rupert was crucial in establishing the family’s business empire and instilling an entrepreneurial spirit in his children. Johann Rupert’s siblings, sister Hanneli Rupert-Koegelenberg and brother Anton Rupert Jr. are actively involved in the family businesses and have played significant roles in their success.
Beyond their business ventures, the Ruperts are also recognised for their philanthropic efforts. They established the Rupert Art Foundation, dedicated to supporting the development of South African art and artists. Additionally, the family is involved in various charitable initiatives, focusing on education, healthcare, and conservation efforts in South Africa.
Johann Rupert is happily married to his wife, Gaynor Rupert, and together, they have three children: a son and two daughters. Their son is named Anton Rupert Jr., and their daughters are named Caroline Rupert and Hanneli Rupert.
Johann Rupert’s background is rooted in a family of business success, philanthropy, and commitment to developing South Africa’s art, education, healthcare, and conservation sectors.
Johann Rupert’s Business Career
Johann Rupert’s career began in New York, where he gained valuable experience working for esteemed financial institutions. He later returned to South Africa and founded the Rand Merchant Bank, which became a significant player in the country’s financial sector.
Rupert’s entrepreneurial spirit led him to merge RMB with another company, forming RMB Holdings. He then joined his father’s tobacco business and later established a luxury group called Compagnie Financière Richemont, which owns prestigious brands like Cartier and Montblanc.
Under his leadership, Richemont became a market leader with a market value exceeding $50 billion. Johann has been actively involved in Richemont’s annual general meetings (AGM) and previously engaged in the International Shareholder Services (ISS) debate.
Rupert’s business success has been recognised through various awards, and has also been involved in social and environmental causes. He has helped create jobs in South Africa and supported organisations like the Peace Parks Foundation and the Laureus Sport for Good Foundation.
In 2023, Rupert became the richest man in Africa, surpassing Aliko Dangote. However, his net worth later experienced a downturn, resulting in him slipping back to the second position.
Johann Rupert Companies
Johann Rupert, Africa’s richest person, has built a substantial fortune through his ownership and investments in various companies. His most prominent holdings include:
- Richemont: Rupert owns a significant portion of Richemont, a prestigious Swiss conglomerate specialising in luxury goods. His stake in Richemont, valued at over $9 billion, accounts for the majority of his $12.2 billion wealth. Richemont has several subsidiaries, including Cartier, Chloe, Dunhill, Alaa, and Delvaux.
- Reinet Investments: Rupert owns nearly 25% of Reinet Investments, which manages Richemont’s stake in British American Tobacco. The market value of his stake in Reinet Investments amounts to $1.09 billion.
- Remgro: Rupert has a stake in Remgro, an investment vehicle-based in Stellenbosch, South Africa. Remgro has holdings in over 30 companies, including the recent acquisition of healthcare group Mediclinic International. The market value of Rupert’s stake in Remgro is now $389 million.
- Grindrod Limited: Rupert also has stakes in Grindrod Limited, a South African company listed on the JSE. Grindrod operates globally and aims to generate sustainable returns and long-term value. Rupert’s stake in Grindrod is currently worth $7.62 million.
- FirstRand Limited: Rupert is a notable shareholder in FirstRand, Africa’s largest financial services group. FirstRand’s market capitalisation has exceeded $21 billion, and its shares have surged by over 10% since the start of the year.
- Rupert also owns part of the Saracens English rugby team and Anthonij Rupert Wines, named after his deceased brother.
Johann Rupert’s Houses & Cars
Johann Rupert’s opulent lifestyle extends beyond his luxurious car collection. He owns extravagant properties that showcase his wealth and appreciation for the finer things in life.
One of Rupert’s remarkable properties is the L’Ormarins Estate in Cape Town. This estate encompasses nine vineyards and features state-of-the-art Terra del Capo cellars, the only ones of their kind in Africa. The estate also includes a stud farm where racing horses are trained and sold and several guest houses for a truly lavish experience.
Further displaying his passion for wine, Rupert owns a vineyard estate in the Western Cape. This property not only showcases the region’s natural beauty but also serves as a thriving hub for wine production. It highlights Rupert’s dedication to preserving South Africa’s winemaking heritage.
In addition to his vineyard estates, Rupert owns luxury homes worldwide that reflect his sophisticated tastes and extravagant lifestyle.
One of Johann Rupert’s notable contributions to Franschhoek, also in the Western Cape, is the Franschhoek Motor Museum. This museum is part of his extensive car collection and is open to the public, allowing car enthusiasts and visitors to admire the impressive display of vintage automobiles.
Rupert is renowned for his vast collection of cars worth millions of rands. The motor museum houses over 220 cars from 1898, including various vintage and modern exotic vehicles.
Through his ownership of these luxurious properties and his passion for collecting cars, Johann Rupert demonstrates his affinity for elegance, beauty, and the finer aspects of life.
Johann Rupert News and Controversies
Johann Rupert has been involved in several controversies throughout his career, including:
- Insider trading: In 2018, Richemont faced allegations of insider trading involving its shares, which led to an investigation by the Swiss Attorney General’s office. Although the company denied any wrongdoing, the investigation was ongoing at the time of the report.
- Luxury goods industry ethics: As a prominent figure in the luxury goods industry, Rupert has faced criticism for the environmental and social impact of the industry, particularly regarding the production and distribution of high-end products. Some have questioned the sustainability of the industry and the ethical implications of promoting luxury consumption.
- Workplace culture: There have been reports of a toxic work environment within Richemont, with employees accusing the company of poor working conditions and unfair labour practices.
- Tax evasion: In 2019, it was reported that Richemont, the company he leads, was under investigation for tax evasion in France. The company was suspected of using complex financial structures to avoid paying taxes on its sales in the country.
- COVID-19: In 2020, Johann Rupert, the CEO of Richemont, faced criticism for his comments on the COVID-19 pandemic, which were perceived as insensitive and dismissive. He stated that the pandemic was “a bit of a nuisance” and that people should “get on with their lives.” This sparked outrage and led to calls for him to step down from his position.
- Production of Luxury goods: In 2021, Richemont faced a backlash for its involvement in the production of luxury goods in Myanmar, where the company was accused of profiting from the country’s military regime. The company was criticised for not taking a stronger stance against human rights abuses and not using its influence to advocate for change.
- Child Labor: In 2022, Richemont faced a scandal involving the use of child labour in its supply chain. An investigation revealed that some of the company’s suppliers were using children to work in dangerous conditions, which led to widespread condemnation and calls for the company to take action to address the issue.
- Environment Sustainability: In 2023, Richemont faced criticism for its environmental impact, particularly in relation to its use of non-recyclable materials and the company’s contribution to pollution. The company was urged to adopt more sustainable practices and reduce its carbon footprint.
Contributions and Philanthropy
Johann Rupert’s contributions to society extend far beyond the boardrooms and balance sheets. He is not only a prominent business figure but also a philanthropist dedicated to making a positive impact on the world. His involvement in various charitable endeavours reflects a deep commitment to environmental conservation, cultural preservation, and the well-being of underprivileged communities.
One of Johann Rupert’s significant philanthropic roles is as the Chairman of the Peace Parks Foundation, a non-profit organisation based in South Africa. Rupert’s father founded this organisation with a noble mission: to rebuild and safeguard large ecosystems in Africa. The Peace Parks Foundation aims to create protected areas and wildlife corridors that facilitate biodiversity conservation while fostering economic development in the surrounding regions. Johann Rupert’s continued dedication to this cause exemplifies his commitment to preserving Africa’s natural heritage.
In 2016, Johann Rupert joined forces with Italian entrepreneur Franco Cologni to establish the Michelangelo Foundation, a Geneva-based non-profit organisation. This foundation is a platform for promoting and preserving craftsmanship and artisanal skills. By supporting and celebrating artisans and their crafts, the Michelangelo Foundation ensures that traditional techniques and cultural heritage endure in an increasingly fast-paced world.
Rupert’s passion for sports transcends the field and finds expression in his philanthropic efforts. In 1990, he founded the Laureus Sport for Good Foundation, a testament to his belief in the transformative power of sports. Laureus funds 65 projects worldwide, focusing on using sports to address social issues, particularly among underprivileged children. These projects harness the universal language of sports to instil values like teamwork, discipline, and resilience while providing opportunities for personal growth and empowerment.
Johann Rupert’s commitment to philanthropy extends beyond financial contributions. His active involvement in these organisations and his visionary leadership have been instrumental in driving positive change. Rupert has demonstrated a deep sense of responsibility toward humanity and the environment through his various philanthropic initiatives, leaving a lasting legacy beyond his business achievements.
In a world where success is often measured by financial wealth alone, Johann Rupert stands as a shining example of a business leader who uses his resources and influence to make the world a better place. His dedication to conservation, craftsmanship, and the well-being of disadvantaged communities underscores the profound impact individuals with a vision for positive change can have on the world.
Johann Rupert Contact Details
Johann Rupert is a prominent business figure and a high-profile individual. Hence, he may respond differently to every email or phone inquiry. If you need to contact Johann Rupert, you can reach out to him via email at [email protected]. Alternatively, you can call him at his business phone number, +27 82 995 1200.
Conclusion
Johann Rupert is unquestionably a remarkable figure who has left an enduring mark on society through his outstanding accomplishments and contributions. As the richest person in SA and the Chairman of both Richemont and Remgro, his business acumen and entrepreneurial drive have propelled him to remarkable success.