How Johann Rupert Earned His $7.3 Billion Fortune And Became The Richest Person In Africa

How Johann Rupert Earned His $7.3 Billion Fortune And Became The Richest Person In Africa:

Proceed on his nine-year reign Aliko Dangote as the richest man in Africa. Johann Rupert, chairman of Swiss-based luxury goods manufacturer Rickmont and South African company Remgro, is the new richest person in the continent of Africa. Rickmont’s brands include Cartier, Van Cleef & Arpels and Piaget. Rupert was born into wealth – the family’s fate began with his father Anton, who dropped out of medical school because he could not afford tuition, and with £ 10 he and two investors started making cigarettes in his garage . This small enterprise developed into the Rembrandt Group, a tobacco and industrial conglomerate. However, Johann did not want him to be taken in to start and run his father’s company, so he decided to make his fortune on his own terms. So, while Rupert built considerable fortune, for all intents and purposes, he is also a self-made billionaire, as his fortune was earned very differently from his father, diversifying and changing the family business By.

How Johann Rupert Earned His $7.3 Billion
How Johann Rupert Earned His $7.3 Billion – Image source GettyImages

David Cannon / Getty Images

Johann Peter Rupert was born on 1 June 1950, two years after his father founded the tobacco company Rembrandt Group. He is the oldest son of the late billionaire industrialist Anton Rupert and his wife Hubert. He dropped out of Stellenbosch University in South Africa, where he went to New York City for a job as an apprentice at Chase Manhattan Bank, studying economics and corporate law. Rupert worked for Chase and lived in New York City for investment banking firm Lazard Frères before returning to South Africa. Once home, Rupert decided not to work for his father or rested on the praise of being the heir to a multi-billion dollar fortune. Instead, he founded Rand Merchant Bank, given his years of financial experience in New York City. Eventually, Rupert’s bank merged into Rand Consolidated Investment. At this point, he joined the family business with his father. But he still did it in his own way, in a unique way.

While working at Rembrandt, he diversified the company’s interests into wine, spirits and other South African trading sectors such as banking and mining. Johann completely captured Rembrandt in the late 1980s. As he was in the company’s driver’s seat, he separated Rembrandt’s European assets into his own company – Switzerland-based Compagnie Financier Richemont. Today, Rupert is chairman of the luxury goods conglomerate Reckmont, which splits itself into two companies: Remgro, the restructured version of the Rembrandt Group and Reinet Investments, a holding company that controls Rembart’s stakes in British American Tobacco.

His father may have handed over the tobacco business to his oldest son, but today Johann Rupert controls a very well diversified international group. More than half of Johann Rupert’s family comes from Rembrandt’s tobacco stake, rather than his stake in luxury jewelery-making company Reckmont. Remgro, the restructured version of the company created by his father, has stakes of more than 30 companies across dozens of industries. Thanks to this success, today Johan’s personal wealth is $ 7.3 billion and he is the richest person not only in South Africa, but the continent of Africa as a whole.

Johann Rupert lives in Johannesburg with his wife Gaynor. The couple has three children. Rupert is also an avid golfer, a lifelong member of the South African PGA Tour as well as the European Tour. He also designed the course at Leopard Creek Golf Club, which he bought in 1995 with pro golfer Gary Player. Johan Rupert was inducted into the South African Sports Hall of Fame in 2007 and in 2009 the South African Golf Hall of Fame.

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