South Africa has a new richest man

Johann Rupert is no longer South Africa’s richest man, according to live billionaire data from Forbes.

Retail tycoon, Christo Wiese is now South Africa’s richest person, with a net worth of $6.8 billion.

Luxury good retail executive Rupert, the former number one, has slipped to third, with his net worth of $6.4 billion ranking just below Nicky Oppenheimer at $6.5 billion.

It should be noted that Forbes’ live tracking of billionaire wealth does not constitute its “official” list, which is released early in the year.

Christo Wiese
Christo Wiese

However, it does show that there has been a significant shift among South African billionaires since the Forbes ranking in March 2015.

In the 2015 Forbes rankings, Rupert’s fortune was listed at $7.4 billion – though his finances were down a slight 2.4% from 2014.

Wiese, on the other hand, had shown enormous growth (97%), nearly doubling his wealth to $6.3 billion at the time. Since the March list, Rupert’s fortunes have continued to slide, while Wiese’s has moved up.

Notably, Wiese is the only South African billionaire who has seen his fortunes grow in the period.

This is how South Africa’s richest individuals’ fortunes have shifted since February 2015.

# Billionaire March 2015 September 2015 Change
1 Christo Wiese $6.3 billion $6.8 billion +7.9%
2 Nicky Oppenheimer $6.7 billion $6.5 billion -3.0%
3 Johann Rupert $7.4 billion $6.4 billion -13.5%
4 Koos Bekker $2.3 billion $2.1 billion -8.7%
5 Allan Gray $1.6 billion $1.3 billion -18.8%
6 Stephen Saad $2.1 billion $1.3 billion -38.1%
7 Patrice Motsepe $2.2 billion $1.3 billion -40.9%

Retail tycoon, Wiese, has a 15% stake in Shoprite Holdings, which has had a successful year in trade across Africa.

He also owns a stake in private equity firm, Brait, and investments in mining and industrial sector firms.

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South Africa has a new richest man