{"id":142904,"date":"2016-11-10T13:46:50","date_gmt":"2016-11-10T11:46:50","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=142904"},"modified":"2016-11-10T13:47:53","modified_gmt":"2016-11-10T11:47:53","slug":"how-trumps-victory-affected-south-africas-richest-people","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/142904\/how-trumps-victory-affected-south-africas-richest-people\/","title":{"rendered":"Here\u2019s what Trump’s victory did to South Africa\u2019s richest people"},"content":{"rendered":"

While the shock win by Donald Trump in the US elections has caused quite an upset for the world’s top billionaires, South Africa’s richest people were left smiling.<\/p>\n

Markets slumped on Wednesday following the surprise election result, as a Trump presidency is shrouded in uncertainty, with no clear policy direction on trade and foreign markets.<\/p>\n

The global economy had largely priced in a Clinton victory.<\/p>\n

Data tracked by Bloomberg<\/a><\/strong> showed the world’s top billionaires losing $41 billion on Wednesday, following Trump’s victory.<\/p>\n

This almost completely undid a $57 billion gain earlier in the week when polls suggested that democrat leader, Hillary Clinton would win the elections.<\/p>\n

Mexico’s richest man, Carlos Slim, led the losses with a 10.5% decline in his wealth – wiping $5.8 billion from his fortune.<\/p>\n

Top US billionaires also felt the pain, losing a combined\u00a0$9.3 billion.<\/p>\n

Forbes’ real time data<\/a><\/strong> showed how South Africa’s wealthiest people profited from Trump’s victory.<\/p>\n

The only exception is Richemont chairman, Johann Rupert, who has conflicting data, because of the different metrics used by Bloomberg and Forbes.<\/p>\n

Forbes’ data shows that Rupert’s net worth increased by $23 million (+0.4%) between the 8th and the 9th of November – however, Bloomberg’s data showed a decline of $61 million in Rupert’s fortunes.<\/p>\n

\"Top<\/a><\/p>\n

Rupert is the only South African businessman included in Bloomberg’s top 100 billionaires index.<\/p>\n

Richemont has seen a massive decline in earnings in recent months which has led the company to scrap scrap the role of chief executive. The company will instead be managed by a team of senior executives on the board, led by Rupert who founded Richemont with his father Anton.<\/p>\n

The change in wealth of South Africa’s richest people between 8 and 9 November 2016 is reflected below:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n
#<\/th>\nBillionaire<\/th>\nNet worth (US$)<\/th>\nChange (US$)<\/th>\nChange (%)<\/th>\n<\/tr>\n
1<\/td>\nNicky Oppenheimer<\/td>\n$6.9\u00a0billion<\/td>\n+$15 million<\/td>\n+0.2%<\/span><\/strong><\/td>\n<\/tr>\n
2<\/td>\nChristo Wiese<\/td>\n$6.2\u00a0billion<\/td>\n+$156 million<\/td>\n+2.6%<\/span><\/strong><\/td>\n<\/tr>\n
3<\/td>\nJohann Rupert<\/td>\n$5.8\u00a0billion<\/td>\n+$23 million<\/td>\n+0.4%<\/span><\/strong><\/td>\n<\/tr>\n
4<\/td>\nKoos Bekker<\/td>\n$3.2\u00a0billion<\/td>\n+$6 million<\/td>\n+0.2%<\/span><\/strong><\/td>\n<\/tr>\n
5<\/td>\nAllan Gray<\/td>\n$2.1\u00a0billion<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
6<\/td>\nPatrice Motsepe<\/td>\n$1.7\u00a0billion<\/td>\n+$48 million<\/td>\n+2.9%<\/span><\/strong><\/td>\n<\/tr>\n
7<\/td>\nStephen Saad<\/td>\n$1.3\u00a0billion<\/td>\n+$102 million<\/td>\n+8.4%<\/span><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Read:\u00a0What Trump as US president means for us in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

While the shock win by Donald Trump in the US elections has caused quite an upset for the world’s billionaires, South Africa’s richest people were left smiling.<\/p>\n","protected":false},"author":10,"featured_media":142924,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,9880],"tags":[26],"class_list":["post-142904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-wealth","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=142904"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142904\/revisions"}],"predecessor-version":[{"id":142930,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142904\/revisions\/142930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/142924"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=142904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=142904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=142904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}