Advertise with fastmoving.co.za
 
 

Johann Rupert R23bn poorer so far this year
Johann Rupert R23bn poorer so far this year

Johann Rupert R23bn poorer so far this year

RETAILER NEWS

Fin24 - Jan 12th 2016, 08:26

Cape Town - South African billionaire executive Johann Rupert has become $1.5bn (about R23.22bn) poorer so far this year compared to last year, according to the daily Bloomberg Billionaires Index. 

Rupert is the chair of Swiss-based Richemont, the world's largest jewellery maker. He controls Richemont through a family trust and has the number 200 spot on the index, which ranks the world's richest people.

Although the index shows that Rupert has lost 18.8% of his wealth so far this year, he is still estimated to be worth about $6.4bn (about R99bn). He is the only South African ranked on the index.

Bloomberg reported that Tuesday was the first annual decline for this daily wealth index since it started in 2012.

The index showed that the world’s 400 wealthiest people had shed $19bn in 2015. Falling commodities prices and signs of slower growth in China seemed to have spooked global investors, according to Bloomberg.

Mexican telecommunications mogul Carlos Slim was the biggest decliner on the index at the close of trading in New York on December 28. His America Movil SAB dropped 25% in 2015.

"US investor Warren Buffett, the world’s third-richest person, lost $11.3bn as Berkshire Hathaway had its first negative annual return since 2011. Microsoft co- founder Bill Gates, the world’s richest person since May 2013, fell by $3bn during the year,” according to Bloomberg.From Fin24.com 

Related News

Hong Kong protests hurt Richemont's profits
11/11/2019 - 13:17
Richemont’s share price took a hit after the company disappointed the market with its results for the six months to end-September.

Regulation of online and mobile gambling in Africa must gather pace
29/10/2019 - 10:20
The gambling industry in Africa has been busy recently following the ICE Africa and Big African Summit events. These explored the current state of legal gambling within the continent and included conferences by established industry professionals.

Pick n Pay unveils its revamped "On Nicol" flagship store
18/10/2019 - 10:59
Pick n Pay’s flagship store On Nicol officially welcomed customers after a comprehensive revamp. The refurbished store has an exciting array of new offerings with the very best in retail concepts developed in South Africa and from around the world. Customers can expect an enhanced fresh food experience, a huge focus on product quality, a much-improved range, innovative third-party services, and refreshed customer service.

Richemont’s head of fashion departs for role outside company
10/09/2019 - 10:34
Swiss luxury-goods maker Richemont said the head of its fashion and accessories business resigned after one year on the job to join another company.

Strong Asia growth boosts Richemont’s first-quarter sales
18/07/2019 - 13:38
The luxury-goods company reports a 9% year-on-year increase at constant exchange rates.