South Africa’s richest man, Johann Rupert, loses $900 million as Richemont shares fall

South African billionaire Johann Rupert, the country’s richest man, has seen a notable decline in his fortune, with about $900 million wiped out in just 10 days as shares in his Switzerland-based luxury group came under pressure. The drop has pushed him out of the world’s top 150 richest individuals, according to the Bloomberg Billionaires Index. 

The index, which tracks the world’s 500 richest individuals, shows Rupert’s wealth falling from $18.9 billion on April 17 to $18 billion at the time of reporting. This reflects a decline in the market value of his stake in Richemont, the Switzerland-based luxury group behind brands including Cartier, Van Cleef & Arpels, Montblanc, Chloé, Jaeger-LeCoultre and Buccellati.

Richemont shares fall; Rupert’s stake declines 

The decline is linked to a dip in Richemont shares on the SIX Swiss Exchange. Over the past week, the stock dropped more than 5.5 percent, reducing the value of Rupert’s stake from $12.9 billion to $12.1 billion. He owns 10.18 percent of the company and holds 51 percent of the voting rights, giving him influence over board decisions and the group’s long-term strategy. 

Year to date, Richemont shares are down more than 12 percent, pulling market capitalization below $100 billion. The latest move reflects uneven demand in parts of the global luxury market, where spending tends to soften when consumer confidence weakens or broader uncertainty builds. Geopolitical tensions, including ongoing conflict in the Middle East, have also weighed on sentiment in key regions that contribute meaningful revenue to high-end brands.

Hold-buy view amid retail shifts

Even with the recent pullback, several analysts continue to see Richemont as relatively steady within the luxury sector. Firms including UBS and JPMorgan maintain coverage on the stock, pointing to its pricing strength and focus on high-end jewelry as key supports during slower demand cycles. Jewelry demand, they note, has generally held up better than categories such as leather goods, where discounting has been more common.

Analysts also point to Richemont’s balance sheet strength, which provides flexibility for selective investments in retail expansion and brand positioning at a time when parts of the industry are adjusting store networks. Overall sentiment leans toward hold-to-buy recommendations, with attention centered on Chinese consumer demand as a key factor in near-term performance.