Richemont rally boosts South Africa’s richest man by $4.6 billion

South Africa’s richest man, Johann Rupert, has added about $4.64 billion to his wealth this year, making him the biggest gainer on the African continent so far in 2025. The rise has brought his estimated fortune to $18.3 billion, pushing his net worth close to $20 billion.

Data from the Bloomberg Billionaires Index, which tracks the wealth of the world’s 500 richest people, shows that Rupert’s net worth has climbed from $13.7 billion on Jan. 1 to $18.3 billion as of this month. Rupert, who chairs Richemont, the Swiss luxury giant behind Cartier and Van Cleef & Arpels, has seen steady gains driven by a strong performance in Richemont shares.

Rupert’s wealth rises on Richemont surge

The jump follows a $1.3 billion increase in 2024, when his fortune rose from $12.4 billion to $13.7 billion. Much of this growth comes from his stake in Richemont, where he owns 10.18 percent of the company but controls 51 percent of the voting rights.

Richemont’s stock has gained 20.5 percent since the start of the year, rising from CHF134.25 ($168.10) to CHF161.85 ($201.60). That climb has boosted the company’s market cap to CHF86.83 billion ($107.7 billion) and lifted Rupert’s stake to $12.8 billion.

The luxury group’s growth has been supported by expanding its retail presence across key global markets. In Europe, Van Cleef & Arpels recently opened a flagship boutique in Florence reinforcing Richemont’s footprint in major fashion capitals. The group has also deepened its reach in Germany with Panerai’s first store in Stuttgart, created in partnership with the long-established jeweler Gerhard D. Wempe GmbH & Co. KG.

Beyond Europe, Richemont is introducing its newly acquired Italian jewelry brand Vhernier to Asia. Known for its sculptural designs and craftsmanship, Vhernier is set to open a boutique inside Hong Kong’s Peninsula Hotel, adding to the group’s presence in one of the world’s leading luxury destinations.

Luxury giant shines as jewelry leads

Richemont’s earnings have kept pace with its brand expansion. In the opening quarter of its fiscal year, sales rose 6 percent at constant exchange rates and 2.7 percent at actual rates, climbing from €5.27 billion ($6.12 billion) to €5.41 billion ($6.29 billion). This highlights Richemont’s resilience in a challenging retail environment and its strength in the luxury market.

Jewelry remains Richemont’s strongest division, led by Cartier, Van Cleef & Arpels, Buccellati and Vhernier, with segment sales up 11 percent to €3.91 billion ($4.55 billion). Sales from its Specialist Watchmakers unit fell 7 percent, reflecting weaker demand in China, Hong Kong and Japan. Regional performance was mixed.