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12 Things You Didn’t Know About Johann Rupert

12 Things You Didn’t Know About Johann Rupert

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Johann Rupert’s wealth is estimated at $8.2 billion, making him the world’s 148th-richest person and the single wealthiest South Africa. Chairman and founder of the Swiss-based luxury goods Compagnie Financière Richemont, Rupert has been growing his billions over the years. Forbes once listed him as one of the five richest Africans. He is widely considered one of the most powerful businessmene in Africa, with an influence that spreads far beyond South Africa’s borders. Here are 12 things you didn’t know about the richest South African, Johann Rupert.

Sources: Forbes.com, Bloomberg.com, Bloomberg Billionaires Index, MG.co.za, TheRichest.com, DailyMaverick.co.za

Forbes.com
Forbes.com

Rupert’s father is business tycoon Anton Rupert

Johann is the oldest son of Anton Rupert, a well-known business tycoon who began Rembrandt Group Limited in 1948 as a tobacco manufacturer. The company is now known as Remgro Limited.

Sun.ac.za
Sun.ac.za

He never finished university

Rupert attended the University of Stellenbosch in his hometown, studying economics and company law. Several years in, he dropped out to pursue his business career. In 2004, however, the university awarded him an honorary doctorate in economics. Rupert also received an honorary degree in commerce in 2008 from the Nelson Mandela Metropolitan University.

Telegraph.co.uk
Telegraph.co.uk

Rupert gained his business background in New York City

After leaving university, Rupert traveled to New York City in 1974. He did an apprenticeship at Chase Manhattan Bank for two years and Lazard Frères — a financial advisory and asset management firm — for three years before returning to South Africa, where he founded and became CEO of Rand Merchant Bank in 1979.

BuzzSouthAfrica.com
BuzzSouthAfrica.com

His younger brother, Anthonij, died in 2001

Anthonij was head of Rupert & Rothschild Vignerons and L’Ormarins wine estate. Johann’s younger brother, Anthonij died in 2001 in a car accident. Johann assumed leadership of the estate following his brother’s death and started a project to enhance the farm in honor of his brother’s memory, renaming the estate Anthonij Rupert Wines.

CityPress.co.za
CityPress.co.za

Media outlets have described Rupert as “reclusive”

Both the Financial Times and Barron’s have described Johann as reclusive, as he rarely gives interviews to media outlets and is not seen often at public events. The statements he is quoted on are often on controversial subjects — he has been both a defender and critic of South Africa throughout the years.

Zimbio.com
Zimbio.com

He is a former cricketer

Johann played cricket throughout his youth, and sport was always a passion. In 1990, he founded the Laureus Sport for Good Foundation that funds dozens of projects annually, using sport to tackle social issues and help underprivileged children. Johann also owns part of the Saracens English rugby team.

BuzzSouthAfrica.com
BuzzSouthAfrica.com

Johann was elected into the South African Sports Hall of Fame

An avid golfer, Johann developed one of the top three golf courses in South Africa — Leopard Creek Golf Club in Mpumalanga, South Africa. He plays in the annual Gary Player Invitational golf tournament that raises money for children’s charities, and serves as chairman for both the South African PGA Tour and the South African Golf Development Board. In 2007, Johann was elected into the South African Sports Hall of Fame for his contributions to golf, and was inducted into the South African Golf Hall of Fame in 2009.

Ventures-Africa.com
Ventures-Africa.com

He is a staunch defender of the Afrikaans language

In 2005, Johann made headlines after he withdrew millions of rand worth of advertising in the British design magazine, “Wallpaper.” This was in response to the magazine’s description of the Afrikaans language as “the ugliest language in the world” in its September 2005 edition. The magazine article referred to the Afrikaans Language Monument at Paarl. Rupert said he had ” had enough” of his language being belittled and he would not sit still and look on while his language and culture were “drawn through the mud.”

Source: MG.co.za

BP.Blogspot.com
BP.Blogspot.com

He formed spun off international assets of his father’s company

In 1988, Rupert formed the Swiss-based luxury goods company, Compagnie Financière Richemont, by spinning off international assets owned by his father’s company, Rembrandt Group Ltd. (now Remgro Ltd.) He maintained a 7-percent stake in Remgro. The company is now the second-largest luxury-goods company in the world, known for brands such as Montblanc, Chloe, Cartier, Alfred Dunhill, and more.

Telegraph.co.uk
Telegraph.co.uk

He took a sabbatical in 2013

In 2013, Johann decided to take a one-year sabbatical from his position as CEO of Compagnie Financière Richement, citing “things I want to see and want to do.” During that time, he reportedly spent most of his days reading and fly fishing. He went back to work in September 2014.

Source: Bloomberg.com

Forbes.com
Forbes.com

He’s a vocal opponent of fracking

Johann owns land in the Karoo, a desert and semi-desert region in South Africa, where plans are underway to begin fracking. Johann has become a vocal opponent of the proposal, and has publicly vowed to take on oil giant Shell to oppose its shale gas development.

BlouinNews.com
BlouinNews.com

He criticized South African leadership on many issues

Johann has never been timid in criticizing South Africa’s government, accusing ANC leadership of failing to address corruption and infrastructure deficiencies. At Remgro’s annual general meeting in November 2014, he said, “The leadership of this country, quite frankly, is becoming very, very hard to defend abroad. The people who are running the country now were not given proper education. Wherever you look we have got stagnation and really worrying signs…I’m concerned that we are not prioritizing the right things. We picked low-hanging fruit for a very long time. Those trees are now starting to run empty. How can a person not have electricity? How can we create jobs?”

Source: Bloomberg.com