Business

South African billionaire Johann Rupert scores R534 million payday from just one company

Staff Writer

 ·18 Sep 2026

Remgro, which is controlled by South Africa’s richest family, the Ruperts, and chaired by its patriarch, Johann Rupert, has reported a 42% surge in headline earnings for the year ending June 2026.

The outperformance resulted in a massive 1,145 cents per share dividend payout to shareholders, with Rupert receiving a hefty sum.

Publishing its year-end results late on Friday (18 September), Remgro recorded a 42.3% leap in earnings to R11.140 billion from R7.827 billion the year before.

Headline earnings per share (HEPS) increased by 42.2% from R14.09 to R20.03.

The group noted that the earnings growth momentum it experienced in the 2025 financial year continued into the 2026 financial year, culminating in strong results.

This was attributed to outperformances in several of the key companies in which it has investments.

There was an increased contribution from Mediclinic (+R1.367 billion), notably due to an improved operational performance and amplified by once-off items included in headline earnings.

Other increased contributions arose from Rainbow (+R610 million), CIVH (+R412 million), OUTsurance Group (+R332 million) and Heineken Beverages (+R161 million).

These were all due to improved operational performances, the group said.

TotalEnergies added an increased contribution of R424 million, mainly due to a once-off Transnet pipeline cost refund (Remgro’s portion being R218 million) and positive stock revaluations.

In addition to the contributions, the group also saw higher financial income due to having a higher average cash balance.

This was bolstered by the proceeds of the group’s disposal of its interest in FirstRand Limited, which added R230 million.

HEPS were also boosted by lower finance costs due to the redemption of preference shares of around R95 million during the prior year.

The positive contributions were partly offset by a weaker performance from RCL Foods (-R368 million) and lower dividends from FirstRand (-R110 million) due to its disposal.

Remgro noted that the headline earnings growth of 42.3% included material one-off items amounting to R1.023 billion, comprising Mediclinic’s Switzerland tax benefit of R511 million and a tariff provision release of R294 million, as well as TotalEnergies’ Transnet pipeline cost refund of R218 million.

Adjusting for these once-off items, headline earnings would have increased by approximately 29%.

“This indicates that the quality of Remgro’s headline earnings remains sound, as the growth was mainly supported by stronger operational performances across key investee companies,” it said.

R534 million payday for Johann Rupert

The group paid R46 million in remuneration to its directors and non-executive directors, but Rupert does not take a salary. However, he remains a major shareholder.

According to the group, Rupert Beleggings Proprietary Limited (Rupert Beleggings) holds all the issued unlisted B ordinary shares of the company and is entitled to 43.00% (2025: 43.04%) of the total votes.

Johann Rupert is a director of Rupert Beleggings, which owns 39,056,987 unlisted B ordinary shares.

Johann Rupert holds no direct or indirect personal beneficial ordinary shares, but has an associate interest in 7,553,865 ordinary shares—7,551,005 of which are held by an associate entity of which he is a director.

Given the strong performance of the portfolio, the group showered shareholders with dividends, with Johann Rupert scoring a massive R534 million payday.

Remgro declared an ordinary dividend of 595 cents, as well as a special dividend of 550 cents, delivering a total dividend of 1145 cents per share.

The dividends apply to both ordinary and unlisted B ordinary shares.

Notably, the dividends are subject to a 20% dividend withholding tax.

This results in a net dividend of 476 cents per share for the ordinary dividend and 440 cents per share for the special dividend (916 cents per share total).

This is conditional—such as exemptions or reduced rates under applicable double-taxation agreements—and may not necessarily apply to all shares.

In the end, Rupert’s payday could be closer to R427 million as a result.

Remgro’s board said it is satisfied that the company is solvent and liquid and has sufficient capital and reserves after the payment of the final and special dividend to support its operations for the foreseeable future.