South Africa’s richest man, Johann Rupert, has seen $100 million erased from his fortune over the past four trading days after investors locked in gains following a sharp rally in shares of Swiss luxury group Richemont.

Earlier this month, a buying surge in Richemont shares lifted Rupert’s net worth to $20.4 billion. But after the stock touched a record high last Thursday, some investors began taking profits, leading to a modest pullback in the company’s shares and trimming Rupert’s wealth.

Johann Rupert’s fortune slips on Swiss shares

According to the Bloomberg Billionaires Index, Rupert’s fortune stood at $20.4 billion on June 16. At the time of this report, it had slipped to $20.3 billion, reflecting the recent decline in Richemont shares on the SIX Swiss Exchange, Europe’s third-largest stock market.

Even with the latest setback, Rupert remains firmly ahead of where he started the year. His net worth has increased by $816 million in 2025, supported by gains in Richemont shares. The owner of Cartier and Van Cleef & Arpels has benefited from resilient demand for high-end jewellery, helping drive a 5.35 percent increase in its stock this year.

Jewelry sales power Richemont earnings

The strength of Richemont’s jewellery business was also evident in its latest results. For the year ended March 31, it reported a net profit of €3.48 billion ($4.04 billion), as steady demand for jewellery helped offset the effects of currency swings and weaker sales in its watch division.

Revenue rose to €22.4 billion ($26 billion), while earnings per share climbed 27 percent to €5.909. Headline earnings per share edged down slightly to €6.132, highlighting mixed conditions across parts of the business. Richemont also continued to generate strong cash flows. Operating cash flow reached €4.88 billion ($5.66 billion), while net cash totaled €8.5 billion ($9.86 billion) at the end of the financial year.

Reflecting that financial strength, the board proposed an ordinary dividend of CHF3.30 per share, up 10 percent from a year earlier, and announced a special dividend of CHF1 per share, underscoring confidence in the group’s balance sheet and cash-generating ability despite a more challenging environment for parts of the luxury market.