Johann Rupert Becomes Africa’s Richest Person
A New Champion Emerges
There’s a new king of the billionaires in Africa! Johann Rupert, a wealthy businessman from South Africa, and his family have taken the top spot as the richest people in Africa. They have surpassed Aliko Dangote from Nigeria, who held the title for over 12 years.
The Changing Fortunes
According to the latest Forbes billionaire ranking, Mr. Rupert and his family are now the 201st wealthiest in the entire world, while Mr. Dangote is ranked 219th. So, what caused this change? Well, the value of Mr. Dangote’s wealth took a hit when the Nigerian currency, called the naira, lost a lot of its value last year. This made his wealth weaker when compared to the US dollar.
A Currency Struggle
Mr. Dangote earns most of his money in naira, and unfortunately, the naira didn’t perform well in 2023. It was one of the worst-performing currencies in the world! As a result, Mr. Dangote’s wealth decreased by almost one-third last year, leaving him with a fortune of $9.5 billion.
Meet Johann Rupert
Let’s learn more about the new richest person in Africa. Johann Rupert was born in Stellenbosch, South Africa, over 73 years ago. He is the chairman of a luxury goods company called Compagnie Financiere Richemont, which is based in Switzerland. He also heads an investment holding company called Remgro, based in South Africa.
Luxury Brands and Investments
Some of the famous brands owned by Richemont include Cartier and Montblanc. Together with his family, Mr. Rupert’s net worth is estimated to be $10 billion. He also owns a 26% stake in an investment holding company called Reinet, which is headquartered in Luxembourg.
A Rising Fortune
Mr. Rupert’s wealth has been steadily increasing since 2020. After a decline in the previous two years, it jumped to $7.1 billion in 2021, then to $8.9 billion in 2022, and reached an all-time high of $11.1 billion last year.
Other Ventures
Aside from his business ventures, Mr. Rupert is also involved in other activities. He is a part-owner of the Saracens English rugby team and owns Anthonij Rupert Wines, which is named after his late brother.
A Missed Opportunity
Interestingly, Mr. Rupert’s biggest regret is not buying 50% of the famous brand Gucci when he had the chance. He could have purchased it for just $175 million! But even without Gucci, he has still achieved great success and is now one of the wealthiest people in the world.
So, congratulations to Johann Rupert and his family for becoming Africa’s new richest people. Their hard work and smart investments have paid off, and they are now at the top of the billionaire list!
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