How much South Africa’s richest man got paid in 2018

South Africa’s richest man (Bloomberg) and founder and chairman of luxury goods company Richemont, Johann Rupert, has taken a pay cut in 2018, but still walked off with a R39 million salary in 2018.

Richemont has published its annual report for the 2018 financial year, showing what the group paid its senior executives for the year.

Rupert’s total pay amounted to CHF 3.06 million (R39.3 million), down from CHF 3.2 million (R41.7 million) in 2017.

According to Bloomberg’s billionaire list, as of May 31, 2018, Rupert is the world’s 193rd richest person, and the richest in South Africa, boasting a fortune of $7.84 billion, down $257 million (R3.2 billion) from the start of the year – but up $400 million (R5 billion) from the same time last year.

From October 2017, Rupert’s annual compensation was reduced by CHF 0.5 million (R6.4 million) to CHF 2.7 million (R34.6 million), split equally between salary and pension contributions. During the period under review no variable compensation was awarded, the group said.

Pay for Richemont’s top executives totaled CHF 26,773,026 for the year (R343 million).

Executive Role Total pay (CHF) ZAR
Cyrille Vigernon President & CEO of Cartier 6 001 135 R77.0 million
Jerome Lambert COO 4 891 538 R62.8 million
Nicolas Bos President & CEO of Van Cleef & Arpels 4 615 238 R59.2 million
Burkhart Grund CFO 3 251 099 R41.7 million
Johann Rupert Chairman 3 066 825 R39.3 million
Gary Saage CFO (former) 2 960 560 R38.0 million
Other executives 5 053 456 R64.8 million
Total 26 773 026 R343.5 million

Conversions done at 1 CHF = 12.83 ZAR

The total remuneration for the Board of Directors – a total of 21 people, including Absa CEO, Maria Ramos and former Richemont CEO, Richard Lepeu, amounted to CHF 11,955,671 (R153.4 million), taking total compensation for the executive committee to CHF 38,728,697 (R496.8 million).


Read: Richemont appoints new chief technology officer to bring company into a new era

Latest news

Partner Content

Show comments

Follow us

Recommended

How much South Africa’s richest man got paid in 2018