On Friday, June 16, Forbes Magazine named South African billionaire Johann Rupert “Africa’s richest man,” unseating Nigerian business magnate Aliko Dangote, who had held the distinction for the previous ten years in a row.
Rupert’s net worth was estimated at $12 billion by Forbes’ real-time Global Billionaires Ranking, while Dangote’s was estimated at $10.8 billion. Due to the naira’s depreciation as a result of the Central Bank of Nigeria’s decision to auction the dollar at a price that was much below the official market price, Dangote’s net worth significantly decreased.
The dollar was roughly 30% cheaper on the central bank’s market.
The following details about Johanna are crucial to know, given his current position as the richest man in Africa.
1. A 73-year-old Rupert was born on June 1, 1950, to business tycoon Anton Rupert and his wife Hurberte in Stellenbosch, South Africa. He is the oldest of his parents.
2. Johann Rupert enrolled at the University of Stellenbosch to study economics and company law but left early to start a business.
3. The same college awarded Rupert an honorary degree in economics in 2004. He was awarded a second honorary doctorate by Nelson Mandela Metropolitan University in 2008.
4. Gaynor Rupert is married to Rupert. Anton Ruper Jr., Caroline Rupert, and Hanneli Rupert are the couple’s three children.
5. After spending some time in the US, he returned to South Africa in 1979 and founded Rand Merchant Bank, serving as CEO until the company amalgamated to form RMB Holdings in 1984.
After leaving RMB, Rupert began working for the 1948-founded Rembrandt Group, a manufacturer of cigarettes.
In 1988, Rupert established the luxury goods holding company Compagnie Financière Richemont in Switzerland. He was named a non-executive director of Rothmans International plc that same year, and the Sunday Times named him “Businessman of the Year.”
8. Rupert joined his father’s business as vice chairman in 1989 and was named chairman of Rembrandt Group Limited in 1991.
9. In 1997, Johann Rupert was named Gold Fields South Africa Ltd.’s non-executive chairman.
10. Rupert enjoys playing golf. He founded the Laureus Sport for Good Foundation in 1990. The organisation has supported over 675 programmes worldwide that try to alleviate social concerns through sports.
