adminThe new year has started off on a high note for Africa’s second richest man Johann Rupert, following the US$400 million financial bump he experienced in the first week of 2023.
This is a welcome development considering that the billionaire experienced a loss of US$1,09 billion in 2022, resulting from a downturn in the market value of his Swiss luxury goods holding company, Compagnie Financiere Richemont.
Standing as one of Africa’s richest individuals, second only to multi-billion dollar tycoon Dangote, this South African magnate derives his wealth from a number of high end luxury ventures.
He owns a remarkable array of luxury brands under Richemont including Chloe, Dunhill, Alaa, Cartier, and Delvaux.
In Bloomberg’s billionaire index, which shows the updated net worths of 500 of the world’s richest individuals, Johann Rupert moved from the 162nd position to the 156th position in just one week. His net-worth has also gone up from US$11,4 billion to US$11,9 billion.
This increase is as a result of the increase in value of Richemonts’s shares on the stock market. The increase also serves as a precursor for what has been projected to be a rewarding year for the luxury goods industry. — Business Insider.
Online Reporter