Johann Rupert: 10 things to know about Africa’s richest man

Forbes Magazine announced on Friday, June 16, that South African billionaire Johann Rupert has surpassed Nigeria’s Aliko Dangote to become “Africa’s richest man”, ending Dangote’s 10-year streak holding that title.

According to Forbes’ real-time Global Billionaires Ranking, Rupert’s net worth is estimated at $12 billion, while Dangote’s stands at $10.8 billion. Dangote’s wealth took a significant hit due to the depreciation of the Nigerian Naira, resulting from the Central Bank of Nigeria’s decision to auction the dollar at a lower rate than the official market price. The central bank sold the dollar at a nearly 30 percent discount.

With Johann Rupert now being recognized as Africa’s wealthiest individual, here are some important details to know about him:

1. Rupert, aged 73, was born on June 1, 1950, in Stellenbosch, South Africa. He is the eldest child of business magnate Anton Rupert and his wife, Hurberte.
2. He initially pursued studies in economics and company law at the University of Stellenbosch but dropped out to embark on a business career.
3. In 2004, the same university bestowed an honorary degree in economics upon Rupert. Additionally, in 2008, he received another honorary doctorate from Nelson Mandela Metropolitan University.
4. Johann Rupert is married to Gaynor Rupert, and together they have three children: Anton Rupert Jr., Caroline Rupert, and Hanneli Rupert.
5. After returning to South Africa from the United States in 1979, Rupert founded Rand Merchant Bank and served as its CEO until 1984 when it merged to form RMB Holdings.
6. Following his departure from RMB, Rupert joined his father’s cigarette manufacturing company, Rembrandt Group, which was established in 1948.
7. In 1988, Rupert founded Compagnie Financiere Richemont, a luxury goods holding company based in Switzerland. That same year, he was appointed as a Non-Executive Director of Rothmans International plc and received the prestigious “Businessman of the Year” accolade from the Sunday Times.
8. In 1989, Rupert became the vice chairman of Rembrandt Group Limited, his father’s company, and subsequently assumed the position of chairman in 1991.
9. In 1997, Rupert took on the role of Non-Executive Chairman at Gold Fields South Africa Ltd.
10. Besides his business pursuits, Rupert is known for his passion for golf. In 1990, he established the Laureus Sport for Good Foundation, which aims to address social issues through sports. The foundation has supported approximately 675 projects worldwide.