By Lehlohonolo Lehana.
Data from Forbes’ real-time ranking of billionaires shows that some of South Africa’s richest people continued to grow their wealth in 2021, led by Johann Rupert, whose luxury goods group Richemont surged on the Johannesburg Stock Exchange, particularly in the second half of the year.
Richemont was the biggest single driver for the South African gauge this year in terms of index points, Bloomberg reported. The Johannesburg shares of the luxury retailer climbed by a record 84% as the sector was buoyed by resilient pandemic sales and bullish prospects for 2022.
Former diamond magnate Nicky Oppenheimer, Rupert, and Capitec founder Michiel le Roux all added to their net wealth in 2o21, while mining boss Patrice Motsepe’s net worth was unchanged, and media mogul Koos Bekker saw his wealth decline over the same period.
With an increase in wealth, local billionaires have also climbed the global rankings, though Motsepe and Bekker’s fortunes have taken them in the opposite direction.
The below table shows where South Africa’s billionaires’ fortunes sit at the start of 2021 compared to the start of 2020.
| Jan-21 | Jan-22 | Billionaire | Jan-21 net worth | Jan-22 net worth | Change |
|---|---|---|---|---|---|
| 354 | 217 | Johann Rupert | $6.9 billion | $10.4 billion | +$3.5 billion |
| 295 | 331 | Nicky Oppenheimer | $7.8 billion | $8.0 billion | +$0.2 billion |
| 1050 | 1176 | Patrice Motsepe | $2.8 billion | $2.8 billion | – |
| 1066 | 1324 | Koos Bekker | $2.8 billion | $2.5 billion | -$0.3 billion |
| 2202 | 1856 | Michiel le Roux | $1.2 billion | $1.7 billion | +$0.5 billion |
Given the current rankings, Johann Rupert firmly maintains his position as South Africa’s richest man, with the Bloomberg Billionaire Index also placing his net worth of an estimated $11.7 billion above Nicky Oppenheimer’s $8.0 billion fortune.
Forbes and Bloomberg use different metrics to calculate net worth, causing some discrepancies. However, both rankings and lists put Johann Rupert squarely at the top for local billionaires.
Rupert is one of South Africa’s best-known billionaires with shareholding in a large number of South African and International companies.
Through Remgro, he has investments in the financial, healthcare, consumer products, industrial, infrastructure, media, and sports industries. He is the chairman of Richemont, which boasts brands like Cartier, Dunhill, and Mont Blanc, where he owns in excess of 9% of the total shares in the business and has voting power of 51%. Richemont’s market cap of R1.17 trillion gives Rupert a holding of in excess of R100 billion.