Johann Rupert becomes richest African (net worth: R270bn!), overtaking Nigeria’s Aliko Dangote

Lester Kiewit speaks to Africa correspondent Jean Jacques Cornish.

(Skip to 1:50 or this story.)

In a battle of billionaires, Johann Rupert, founder and chair of the Swiss luxury goods holding company 'Richemont', has overtaken Nigerian industrialist Aliko Dangote, becoming Africa's richest person.

According to the latest Bloomberg Billionaires Index, Rupert's net worth has surged to R270 billion, surpassing Dangote, whose fortune has dropped to R253 billion due to Nigeria's tanking currency, skyrocketing inflation, and political instability.

Rupert’s increase in wealth for the year, estimated at R36 billion, reflects the strong performance of Richemont, the luxury goods conglomerate he controls.

Richemont is renowned for prestigious brands such as Jaeger-LeCoultre and Cartier. Rupert’s ascent makes him the 147th richest person in the world.

According to Forbes, the Rupert family supports numerous educational and environmental initiatives through organisations such as the Nelson Mandela Children’s Fund, the SA College for Tourism and Ikamva Labantu.

Rupert’s commitment to philanthropy is further demonstrated by his practice of donating wages earned from his roles as chair or board member at various companies to charity.

"There's a reason he's known as the luxury-goods magnet."

- Jean Jacques Cornish, Africa Report

Scroll up to the audio player to listen to the interview.