Richness Of The People In South Africa
South Africa has always been an incredibly affluent country because to the precious resources, especially gold, which was discovered in 1885. Due to this finding, the nation expanded its economy to become one of the largest in Africa, and by 1910, it had surpassed all other countries on the continent in terms of riches.Numerous entrepreneurs and business owners who built substantial fortunes over time and are currently among the wealthiest people in South Africa came along with this surge in wealth. To give you a better understanding of how wealthy South Africa actually is, we’ve compiled a list of the top 10 richest citizens there.
Data From Forbes
Several of South Africa’s wealthiest individuals continued to increase their wealth in 2021, according to data from Forbes’ real-time ranking of billionaires, led by Johann Rupert, whose luxury goods company Richemont experienced strong growth on the Johannesburg Stock Exchange, particularly in the second half of the year.According to Bloomberg, Richemont was this year’s largest single mover of index points for the South African gauge. The luxury retailer’s shares in Johannesburg increased by a record 84% as the sector was supported by resilient pandemic sales and optimistic 2022 outlooks.
Data From 2021
Former diamond tycoon Nicky Oppenheimer, Rupert, and Capitec founder Michiel le Roux all saw increases in their net worth in 2021, while media mogul Koos Bekker and mining boss Patrice Motsepe experienced declines.Local billionaires have also risen in the world ranks as their wealth has grown, but Motsepe and Bekker’s fortunes have carried them in the opposite way.
How Forbes And Bloomberg Calculate Net Worth
Forbes and Bloomberg assess net worth using various metrics, which results in some differences. Johann Rupert, one of South Africa’s most well-known billionaires, has stock in numerous local and foreign businesses. Through Remgro, he has investments in the financial, healthcare, consumer products, industrial, infrastructure, media, and sports sectors. Nevertheless, rankings and lists consistently place Johann Rupert at the top of local billionaires. He is the chairman of Richemont, the parent company of brands including Cartier, Dunhill, and Mont Blanc, where he holds more than 9% of the company’s total shares and 51% of the voting power. With a market value of R1.17 trillion, Richemont has a holding of more than R100 billion for Rupert.
Bloomberg Index Of Wealth After The Pandemic
The world’s wealthiest individuals increased their collective net worth by $402.17 billion in 2021, according to Bloomberg’s index, which analyzes the public portfolios of billionaires. Elon Musk, the CEO of Tesla and a South African native, spearheaded this. He increased his net worth by $121 billion (30% of the total) in 2021 alone. After Tesla shares soared 60% in 2021 and the company’s market cap blew beyond a $1 trillion valuation, Musk became the first person to have a net worth over $300 billion. Despite dropping down below that enormous sum, the software tycoon is still the world’s richest person, outspending Jeff Bezos of Amazon by up to $80 billion
Who Is The Richest In South Africa
Johann Rupert, the richest individual in South Africa, has a net worth of $9.78 billion. He is not just the chairman of Richemont, but also the second-richest person in South Africa. He eventually went public after working in his family’s firm for a while.Richemont, a global leader in luxury goods, was established by his father Anton Rupert. Johann Rupert holds an honorary doctorate and a bachelor’s degree from the University of Stellenbosch.
