South Africa’s richest man, Johann Rupert, 4 others gain $4.5 billion in 72 days

South Africa’s wealthiest individual, Johann Rupert, along with four others, have collectively experienced net worth gains totaling approximately $4.5 billion over the past 72 days.

Data tracked on the Bloomberg Billionaire Index reveals that Johann Rupert, alongside two of Egypt’s richest individuals, Naguib and Nassef Sawiris, Ethiopian billionaire Mohammed Al Amoudi, and Natie Kirsh, have each seen their net worth rise by an average of $500 million or more.

The period for this increase as documented in this article was between January 18, 2024, and March 31, 2024 as seen on the billionaire index.

 The breakdown

Johann Rupert, the owner of luxury conglomerate Richemont, experienced the most significant surge in net worth during this period, with an appreciation of $2.08 billion. This surge brings Rupert’s current net worth to a staggering $13.2 billion.

Following closely behind is Nassef Sawiris, Egypt’s richest individual, who saw his net worth rise by $720 million, reaching $8.64 billion. Sawiris owns a significant stake in OCI, a Netherlands-based fertilizer producer, along with holdings in Adidas and Arkema SA.

In third place is Natie Kirsh, aged 92, who controls Kirsh Group, a conglomerate with interests in the food supply business. Kirsh saw a $680 million increase in his net worth, bringing it to $8.26 billion. His holdings include Jetro Holdings, which operates Jetro Cash & Carry and Restaurant Depot stores across the United States.

Naguib Sawiris, another prominent figure, experienced a $570 million boost in net worth, reaching $6.69 billion. Sawiris has investments in gold mines through his company, La Mancha Resources, as well as holdings in Evolution Mining and Endeavor Mining.

In 5th place is Ethiopia’s wealthiest individual, Mohammed Al Amoudi, witnessed a $500 million increase in net worth, bringing his total to $9.16 billion. Al Amoudi controls a diverse portfolio of industrial assets spanning Sweden, Saudi Arabia, and Ethiopia, including Svenska Petroleum Exploration, Preem, and Midroc Gold.

What you should know

Collectively, these billionaires command a net worth of $46 billion as of the time of this report, reflecting their significant economic influence and wealth accumulation over the specified period.

The factors responsible for this increase is tied to the performance of their shares and stakes in their various companies. For one the performance of the luxury watch industry is positioned with positive outlooks particularly looking back at January to February sales figures.

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