Forbes Magazine on Friday June 16th,declared South African billionaire, Johann Rupert, as Africa’s richest man.
He displaces Nigerian Aliko Dangote as Africa’s Richest Man, a title he has held consecutively for the past 10 years.
According to Forbes real-time Global Billionaires Ranking, Rupert’s net worth is pegged at $12 billion, while Dangote’s stands at $10.8 billion. The depreciation of the naira, caused by the Central Bank of Nigeria’s decision to auction the dollar at a relatively lower rate than the official market price, led to a significant decrease in Dangote’s net worth.
The Central Bank sold the dollar at a nearly 30 percent discount.
With Johanna now holding the status of Africa’s richest man, here are important things to know about him:
- Rupert, 73 years old, was born in Stellenbosch, South Africa, on June 1, 1950, to business tycoon Anton Rupert and his wife, Hurberte. He is the eldest of his parents’ children.
- Rupert studied economics and company law at the University of Stellenbosch but dropped out to pursue a business career.
- In 2004, the same university honored Rupert with an honorary degree in economics. In 2008, Nelson Mandela Metropolitan University also awarded him an honorary doctorate.
- Rupert is married to Gaynor Rupert, and they have three children together: Anton Ruper Jr., Caroline Rupert, and Hanneli Rupert.
- In 1979, after a period in the US, he returned to South Africa and established Rand Merchant Bank, where he served as CEO until 1984 when the company merged to form RMB Holdings.
- After leaving RMB, Rupert joined his father’s cigarette manufacturing company, Rembrandt Group, founded in 1948.
- In 1988, Rupert founded Compagnie Financiere Richemont, a luxury goods holding company based in Switzerland. The same year, he became a Non-Executive Director of Rothmans International plc and was honored as the “Businessman of the Year” by the Sunday Times.
- In 1989, Rupert became the vice chairman of his father’s company and assumed the position of chairman of Rembrandt Group Limited in 1991.
- In 1997, Rupert became the Non-Executive Chairman of Gold Fields South Africa Ltd.
- Rupert is also an avid golfer. In 1990, he established the Laureus Sport for Good Foundation, which aims to address social issues through sports and has supported approximately 675 projects globally.
