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Johann Rupert Loses $300 Million As Richemont Shares Drop

Johann Rupert, South Africa’s richest person, has had his net worth fluctuate significantly this month. Rupert’s money has retreated, falling below the $14 billion level, following a solid start to June that saw his fortunes rise $500 million to $14.2 billion.

Rupert Murdoch has a net worth of $13.9 billion, according to the Bloomberg Billionaires Index, which analyzes the wealth of the top 500 billionaires worldwide. This reflects a $300 million drop from his peak this month, which occurred on June 7. The recent decline comes after a $500 million boost in his net worth during the first week of June.

Richemont, a notable Swiss business specializing in luxury products, owns well-known brands such as Cartier, Chloe, Dunhill, Alaia, and Delvaux. The company acquired Italian jeweler Vhernier S.p.A. to broaden its portfolio and align with its growth strategy.

Johann Rupert’s recent $300 million fortune decrease is attributed to the performance of his 10.18 percent interest in Richemont.Shares of the Swiss luxury goods company fell almost 4% in a week, from CHF150.1 ($168.2) on June 7 to CHF143.6 ($161). This reduced the group’s market capitalization to less than $90 billion, while his stake was valued at $10 billion.

Rupert owns a sizable amount of his fortune in Richemont, with 6.26 million “A” shares and 522 million “B” shares. This gives him a 10.18 percent ownership and 51% voting rights. According to Bloomberg, his Richemont share is currently worth $10 billion, down from $10.3 billion on June 7.

Despite a recent dip in Richemont’s share price, Johann Rupert remains among Africa’s billionaires whose fortunes have risen significantly this year. Rupert’s net worth has increased to $1.54 billion by 2024.

Nicky Oppenheimer, an African millionaire, has had a net worth increase of more than $1 billion this year. Egyptian brothers Nassef and Naguib Sawiris’ fortunes have risen by $410 million and $323 million, respectively. In 2024, Africa’s richest individual, Aliko Dangote, increased his net fortune by only $45.4 million.

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