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Tuesday, November 5, 2024
CEOWORLD magazine - Latest - Banking and Finance - South African Billionaire Johann Rupert loses $3.9 billion in over 90 days

Banking and Finance

South African Billionaire Johann Rupert loses $3.9 billion in over 90 days

South Africa

Over the past 90 days, Johann Rupert, South Africa’s wealthiest and the second-richest person in Africa, has seen his net worth shrink significantly by $3.9 billion.

On 16 July 2023, Johann Rupert’s wealth was estimated at 14.4 billion dollars. Since then, it’s decreased significantly to 10.5 billion dollars, a drop of 27.1 percent.

The incredible fall in the value of his 9.12% ownership of Compagnie Financière Richemont SA, a renowned Swiss luxury company renowned for its prestigious labels such as Baume & Mercier, Cartier, Montblanc, Chloé, Piaget, and Dunhill, was the main impetus of this remarkable shift in circumstances.

In the past three months, the stock had a decrease of 28 percent, resulting in the market capitalization falling below US$67.11 billion, which caused a sharp drop in Rupert’s ownership in Richemont.

July 16, 2023: $14.4 billion
October 23, 2023: $10.5 billion

Compagnie Financière Richemont has a total shareholder equity of €19.0 billion and total debt of €11.8 billion, which brings its debt-to-equity ratio to 62%. Its total assets and total liabilities are €40.9 billion and €21.9 billion respectively. Compagnie Financière Richemont’s EBIT is €5.1 billion making its interest coverage ratio 60.6. It has cash and short-term investments of €18.3 billion.

Compagnie Financière Richemont’s CEO is Jerome Lambert, appointed in Oct 2018, has a tenure of 6.08 years. total yearly compensation is €8.04 million, comprised of 24.5% salary and 75.5% bonuses, including company stock and options.

Top shareholders at Compagnie Financière Richemont

Johann Rupert: 9.12%
The Vanguard Group, Inc.: 3.32%
BlackRock, Inc.: 2.71%
Norges Bank Investment Management: 2.36%
UBS Asset Management AG: 2.03%
Capital Research and Management Company: 1.99%


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CEOWORLD magazine - Latest - Banking and Finance - South African Billionaire Johann Rupert loses $3.9 billion in over 90 days
Lila Jones
Senior News Editor at CEOWORLD Magazine. I'm a veteran correspondent for the CEOWORLD Magazine. During my career, I've been based in New York, Washington, DC, Brussels and London. Over the years I've written about everything from the debt crisis to Brexit and the rise of populism in Europe. I did a stint in London as the CEOWORLD Magazine's Europe News Editor and Deputy World News Editor. In my current post I try to capture life in a changing banking to finance landscape.