Aliko Dangote and Johnann Rupert. Photos credit: Daily Post Nigeria
For over a decade, Nigerian billionaire, Aliko Dangote, has maintained the top spot as Africa’s richest man. However, the Nigerian business mogul has lost the top spot to South Africa’s Johann Rupert, according to Forbes’ real-time estimates of their net worth.
With a current real-time net worth of $10.8 billion, the Nigerian billionaire is now second to Rupert, who has a real-time net worth of $11.8 billion. Here are six things to know about Rupert:
Primary source of wealth
Rupert’s main source of wealth comes from luxury goods; he is the chairman of Swiss luxury goods firm, Compagnie Financiere Richemont – known for the two top brands, Cartier and Montblanc. The company was formed in 1998 through a spinoff of assets from his father’s company, Rembrandt Group Limited.
Comes from a family of businessmen
Born on June 1, 1950, the 73-year-old comes from a lineage of businessmen, and is the eldest son of renowned business tycoon, Anton Rupert, and his wife, Hurberte. His father launched Rembrandt Group Limited in the 1940s. In 1998, the company split into two entities called Remgro, with interests in banking, financial services, glass, medical services, mining, petroleum, packaging, beverage, food, and personal care products, and Richemont, with a group of Swiss Luxury companies.
Other investments
He owns a 7% diversified interest in Remgro and a 25% stake in Reinet, another investment company in Luxembourg.
Wall Street background
Prior to returning to South Africa, Johann Rupert spent time on Wall Street and established the Rand Merchant Bank in 1976. He also took over the family’s wine interests and his brother’s L’Ormarins wine estate following his demise. He also assumed chairmanship of both Remgro and Richemont following the death of his father. Today, the Rupert family is worth $11.8 billion, as per Forbes.
Educational background
He first studied economics and company law at the University of Stellenbosch but abandoned his academic pursuits to embark on a business career. However, in 2004, the university awarded him with an honorary degree in Economics. He subsequently received an honorary doctorate from Nelson Mandela Metropolitan University.
Hobbies and philanthropic work
Besides business, Rupert has other interests and engages in several philanthropic work. He is a golf enthusiast and also founded the Laureus Sport for Good Foundation in 1990, aiming to address social issues through sports. He serves as Chairman of the South African PGA Tour and Golf Development Board and has been a council member in esteemed institutions such as the South Africa Foundation, the Southern African Nature Foundation, the Institute of Directors in Southern Africa, Business South Africa, and the Die Suid-Afrikaanse Akademie vir Wetenskap en Kuns.
Shakira Scott began making six figures at the age of 19, only a year into…
Lucky Daye is an American musician who overcame major obstacles to achieve success. He released…
A decade before becoming NFL Offensive Rookie of the Year, Texans quarterback C.J. Stroud was…
Queens native Eric 'Badlands' Booker has set a new record by downing a gallon of…
A decade ago, Lupita Nyong'o earned an Oscar for Best Supporting Actress for her debut…
Following her graduation from the Royal Military Academy, Sandhurst, in the United Kingdom, Second Lieutenant…
Dawn Montgomery sparked an online controversy after stating that she and her group left a…
For 50 years, Cal Murray has driven for UPS. The Houston native has been accident-free…
Sharon Chuter is the founder and CEO of UOMA Beauty, a cosmetics company that is…
Veteran actress Taraji P. Henson took to social media to provide details on what caused…
The circumstances surrounding the death of 42-year-old Love & Marriage: Huntsville star Keke Jabbar were…
A 61-year-old woman was fatally mauled by two dogs in an attack that occurred in…
Robert Williams was detained in 2020 after he was suspected of stealing expensive watches. This…
Miranda Turner and her siblings surprised their mother, Pamela Martin-Turner, with a doctoral tam and…
Sabrina Elba, the wife of Hollywood star Idris Elba, has disclosed that her husband has…