Johann Rupert, Africa’s second richest man, is starting the week on a high note, boasting an impressive net worth of $13.3 billion according to estimations from Bloomberg.
As the CEO of Cie Financiere Richemont, a Swiss luxury goods company, Johann Rupert witnessed a notable increase in his net worth, rising about by $129 million (up by 1.0%) increase due to a slight improvement in the trading value of the company’s shares.
Rupert’s year-to-date uptick in net worth shot up by 22%, recording a hefty $2.42 billion at the time this report was filed.
A closer look at Cie Financiere Richemont’s stock reveals that it is currently trading at CHF190, representing a positive change of +2.10 (1.53%) between Thursday and Friday of the last market trade.
Notably, Johann Rupert had previously held the title of Africa’s richest man, surpassing Aliko Dangote to claim the number one spot before Dangote reclaimed the position, as reported by Bloomberg.
Macro trends data suggests that the overall value of the South African billionaire’s company is estimated to be around $168.29 billion as of July 20, 2023.
Compagnie Financière Richemont SA and its subsidiaries are engaged in the design, development, manufacturing, and sale of luxury goods in Europe, Asia-Pacific, the Americas, and Japan.
Recent reports indicate the earnings results for the full year ending March 31, 2023.
During this period, the company reported sales of EUR 19,953 million, a 19.14% increase from EUR 16,748 million in the previous year.
In its latest report, the Swiss luxury brand highlighted strong sales growth, with the quarter ending June 2023 surpassing the 12% sales increase of the previous year.
Almost all regions, channels, and business areas, except America, reported higher sales compared to the prior-year period.
The group’s impressive 19% sales progression was primarily driven by double-digit increases in nearly all regions, with Asia Pacific leading the way with a remarkable 40% rebound.
The three Jewellery Maisons of the Group – Buccellati, Cartier, and Van Cleef & Arpels – exhibited the most robust sales increase at 24%, driven by exceptional jewelry and watch sales.
Johann Rupert’s background
Johann Rupert, aged 73, faced uncertainty on Monday as his stocks appeared to be heading for a rough patch, largely due to fears of diminishing demand from the US market.
However, the luxury wristwatch brand seems to be regaining its footing gradually.
As it stands, Rupert already controls the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust.
The Switzerland-based company owns prestigious brands such as Jaeger-LeCoultre and Cartier.
Additionally, he holds other significant assets, including Remgro, an investment vehicle based in Stellenbosch, South Africa, with stakes in over 30 companies.
Johann Rupert’s remarkable achievements in the luxury goods industry have solidified his position as one of Africa’s most successful and influential entrepreneurs.
With his relentless drive and diverse portfolio, Rupert continues to make a significant impact on the global business landscape.
