This is how much South African billionaire Johann Rupert got paid in 2019
South Africa’s second richest man Johann Rupert took home a R40 million paycheque in 2019.
Luxury goods company Richemont – which Rupert founded and currently chairs – has published its integrated report for 2019, showing its pay structure for senior executives for the year.
Rupert’s total pay amounted to CHF 2.7 million, down from CHF 3.07 million in 2018.
While the figures represent a pay cut for Rupert in Swiss francs, converted to rands the billionaire’s pay has remained the same – R39.8 million in 2019, versus R39.3 million at the conversion rates in 2018.
According to Bloomberg’s billionaire list, as of May 2019, Rupert is the world’s 235th richest person, boasting a fortune of $6.68 billion (R98.83 billion), up $647 million (R9.57 billion) from the start of the year.
This makes him South Africa’s second richest man, below only Nicky Oppenheimer, who has a net worth of $6.95 billion (R102.8 billion), according to Bloomberg.
In 2017, Richemont took the decision to reduce Rupert’s annual compensation by CHF 0.5 million to CHF 2.7 million, split equally between salary and pension contributions. During the period under review no variable compensation was awarded, the group said.
Executive pay
Pay for Richemont’s top executives totalled CHF 30.47 million for the year (R447.15 million).
The total remuneration for the Board of Directors – a total of 20 people – amounted to CHF 7.61 million (R112 million), bringing total compensation paid to CHF 38.1 million (R560 million) for the year.
Financial performance
Richemont reported a strong set of results for the 2019 financial year, with group sales increasing 27% to €13.989 million from €11 million in 2018.
Operating profit climbed 5% to €1.94 million (2018: €1.84 million), and diluted earnings per share jumping to €4.927 per share, from €2.158 before.
The group declared a dividend of CHF 2.00 per share, up from CHF 1.90 in 2018.
Conversions done at 1 CHF = 14.67 ZAR
Read: This is the average take-home pay in South Africa right now
Loading ...