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

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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