Johann Rupert R23bn poorer so far this year
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
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