Wealth

South Africa’s richest man has already made a staggering amount of money in 2017

Staff Writer

 ·30 May 2017

South Africa’s richest man, Johann Rupert, has seen his fortune swell by more than 21% in 2017, thanks to the recovery in the share price of the world’s largest jewelry maker, Financiere Richemont.

Rupert controls the Switzerland-based company which holds brands including Van Cleef & Arpels, Piaget and Cartier, through a family trust.

The company closed at CHK 80.50 on the Swiss exchange, having recorded a 52 week low of CHK 53.00 and a 52 week high of CHK 85.90.

His other public holdings include Remgro, a Stellenbosch, South Africa-based investment vehicle with stakes in more than 30 companies.

According to Bloomberg’s billionaire list, as of May 30, 2017, Rupert is the world’s 184st richest person, and the richest in South Africa, boasting a fortune of $7.80 billion, up $1.37 billion (R18 billion) so far in 2017.

Nicky Oppenheimer is listed as South Africa’s second richest man according to Bloomberg, with a fortune $6.63 billion – ranking him at 232 on he global list.

Oppenheimer sold his family’s 40% stake in De Beers, the world’s biggest diamond producer, to mining company Anglo American in 2012 for $5.2 billion in cash.

He holds less than 1% of the London-based bulk commodities company and maintains private equity investments in Africa, Asia, the US and Europe, Bloomberg noted.

As of May 30, 2017, Oppenheimer has added $177 million to his fortune in 2017, up 2.7%.

Christo Wiese is 235st on Bloomberg’s rich-list, and third richest in SA. He has seen his wealth grow 11.2% so far in 2017, or by $665 million, to $6.59 billion.

Wiese is the largest shareholder of Steinhoff International Holding, a group of companies that distributes household goods. The Sandton based company operates in Europe and Africa, and bought Wiese’s closely held retailer Pepkor for $5.7 billion in 2015.

He also has stakes in eight other publicly traded companies, Bloomberg said.

Self-made South African born, but London based Natie Kirsh is 244th on Bloomberg’s list with fortune of $6.34 billion, up $597 million (10.4%) in 2017 already.

Kirsh controls London-based Kirsh Group, a closely held conglomerate with a 75% stake in commercial food supply business Jetro Holdings.

New York-based Jetro had revenue of more than $9 billion in 2014 from more than 100 Jetro Cash & Carry and Restaurant Depot stores.

He also has private equity investments and property on four continents, according to Bloomberg.

As an indication of how Rupert’s fortunes have swung in 2017, Forbes published its annual African rich-list, listing the 21 richest people living in Africa – while also naming South Africa’s richest people at the start of 2017.

Rupert and Wiese have both held the position as South Africa’s richest man over the past 2 years.

Read: South Africa’s richest people in 2017