{"id":177465,"date":"2017-06-02T12:03:10","date_gmt":"2017-06-02T10:03:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=177465"},"modified":"2017-06-02T12:03:10","modified_gmt":"2017-06-02T10:03:10","slug":"how-much-south-africas-richest-man-got-paid-in-2017","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/177465\/how-much-south-africas-richest-man-got-paid-in-2017\/","title":{"rendered":"How much South Africa’s richest man got paid in 2017"},"content":{"rendered":"

Compagnie Financi\u00e8re Richemont SA has released its annual report, revealing how much the company paid its directors and executives, including founder and chairman, Johann Rupert.<\/p>\n

The Switzerland-based luxury goods holding company was founded in 1988 by South African businessman Johann Rupert by the spin-off of the international assets owned by Rembrandt Group (now Remgro).<\/p>\n

According to Bloomberg\u2019s billionaire list, as of May 30, 2017, Rupert is the world\u2019s 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.<\/p>\n

Rupert sits as chair of the Richmemont board and draws a fairly consistent salary each year of around 3.2 million Swiss francs (CHF).<\/p>\n

Due to fluctuations in the rand, Rupert’s 2017 salary equates to R43.3 million for the year.<\/p>\n

The top three executives – including CEO, Richard Lepeu, CFO, Gary Saage, and CEO of Cartier, Cyrille Vigneron – totalled CHF 18,742,404 (R250 million).<\/p>\n

Senior Executive Committee Pay<\/h3>\n
\n
\n\n\n\n\n\n\n
Name<\/th>\nRole<\/th>\nSalary\/benefits (CHF)<\/th>\nTotal (CHF)<\/th>\nTotal (ZAR)<\/th>\n<\/tr>\n
Richard Lepeu<\/td>\nCEO<\/td>\n3 961 567<\/td>\n8 896 886<\/td>\nR118.6 million<\/td>\n<\/tr>\n
Gary Saage<\/td>\nCFO<\/td>\n2 487 049<\/td>\n6 861 496<\/td>\nR91.5 million<\/td>\n<\/tr>\n
Cyrille Vigneron<\/td>\nCEO of Cartier<\/td>\n1 793 571<\/td>\n2 984 022<\/td>\nR39.8 million<\/td>\n<\/tr>\n
Johann Rupert<\/td>\nChairman<\/td>\n1 624 425<\/td>\n3 248 850<\/td>\nR43.3 million<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

The total remuneration for the Board of Directors \u2013 a total of 16 people, including Absa CEO, Maria Ramos, amounted to CHF 10,686,125 (R142.5 million), taking total compensation for the executive committee to CHF 29,428,529 (R392.4 million).<\/p>\n

Compensation for the prior year ended March 2016 amounted to CHF 36,850,516 (R491.3 million), while the salaries of the three top executives for 2016 amounted to CHF 27,878,464 (R371.7 million) .<\/p>\n

The large discrepancy between 2016 and 2017’s totals is the retirement of former joint CEO, Bernard Fornas who drew a R150 million salary that year.<\/p>\n

The Swiss Franc equals R13.33 based on current exchange rates.<\/em><\/p>\n

\n

Read:\u00a0South Africa\u2019s richest man has already made a staggering amount of money in 2017<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Compagnie Financi\u00e8re Richemont SA has released its annual report, revealing how much the company paid its directors and executives, including founder and chairman, Johann Rupert.<\/p>\n","protected":false},"author":10,"featured_media":21786,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,4665],"class_list":["post-177465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-richemont"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177465","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=177465"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177465\/revisions"}],"predecessor-version":[{"id":177491,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177465\/revisions\/177491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/21786"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=177465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=177465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=177465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}