According to billionaire data from Bloomberg, the world’s 400 richest people lost a combined $127.4 billion Friday, after Britain voted to exit the European Union.
South Africa’s two richest men, retail mogul, Christo Wiese, and diamond magnate, Nicky Oppenheimer, lost a combined $634.8 million due to the market fallout – the vast majority of which was lost by Wiese ($626.2 million).
The Bloomberg data is reflective of billionaire change in wealth from 24 June, 2016. Oppenheimer is listed as having lost ‘only’ $8.6 million.
According to Bloomberg, global billionaires lost 3.2% of their total net worth, bringing the combined sum to $3.9 trillion.
The biggest decline belonged to Europe’s richest person, Amancio Ortega, who lost more than $6 billion, while other big-name billionaires dropped more than $1 billion, including Bill Gates and Jeff Bezos.
South Africa’s biggest losers
Looking at Forbes’ ‘real time’ billionaire data, the picture continues to look bleak for South African billionaires.
The Forbes real-time data tracks the changes to billionaire wealth between trading days – in this case the difference between Friday 24 June and Monday 27 June.
The data shows that Wiese was again the overall loser in South Africa, having had $453 million of his wealth (6.9%) wiped off the map over the weekend.
Richemont chairman, Johann Rupert lost a whopping $168 million, while pharmaceutical executive Stephen Saad and mining and minerals exec Patrice Motsepe lost $39 million and $31 million, respectively.
South African billionaires – biggest Brexit losers (24 June – 27 June)
|Billionaire||Net Worth||Change in US$||Change (%)|
|Christo Wiese||$6.2 billion||-$453 million||-6.9%|
|Johann Rupert||$5.0 billion||-$168 million||-3.2%|
|Stephen Saad||$1.3 billion||-$39 million||-2.9%|
|Patrice Motsepe||$1.3 billion||-$31 million||-2.3%|
|Koos Bekker||$1.7 billion||-$25 million||-1.5%|
|Nicky Oppenheimer||$6.6 billion||-$7 million||0.1%|
|Allan Gray||$1.7 billion||–||–|
Source: Business Tech