South Africa’s richest man, Johann Rupert, has regained $400 million in wealth over the past week, pushing his fortune back above $19 billion as European luxury stocks recover from a month of selling pressure. The rebound has lifted the value of Rupert’s holdings in Richemont, the Swiss luxury-goods group.

Rupert’s net worth rose to $19.1 billion from $18.7 billion, according to the Bloomberg Billionaires Index. The increase follows a sharp decline that cut his fortune from $20.9 billion on Aug. 28 to $18.7 billion on Sept. 18, reflecting weakness across European luxury stocks and Richemont in particular.

Richemont stake rebounds

Rupert, who chairs Richemont, owns 6.263 million A shares and 522 million B shares in the company, according to Bloomberg. His holdings represent a 10.18 percent economic interest and about 51 percent of the voting rights, giving him significant influence over the group behind Cartier, Montblanc and Van Cleef & Arpels.

The value of Rupert’s Richemont stake fell to about $12 billion on Sept. 18 as the shares came under pressure on the SIX Swiss Exchange. By Thursday’s close, the holding had recovered to roughly $12.4 billion, helping drive the latest increase in Rupert’s overall fortune.

Luxury stocks face pressure

Despite the rebound, Rupert remains $368 million poorer than at the start of the year, according to the Bloomberg Billionaires Index. Richemont shares are down 1.36% year to date, as investors contend with weaker macroeconomic data, softer consumer confidence and uncertainty over the pace of recovery in Chinese luxury demand.

The pressure has weighed on major European luxury companies, with several industry bellwethers trading near long-term lows after analysts cut price targets. The sector’s performance has also forced investors to scrutinize whether luxury groups can sustain the earnings growth that helped drive their shares higher earlier in the year.

Richemont leans on jewelry

Richemont’s latest financial results provide a stronger backdrop for that debate. The company reported a strong start to its new financial year, with sales reaching €6.3 billion ($7.2 billion) for the quarter ended June 30, 2026.

The performance reflects a 20 percent increase at constant exchange rates and 17 percent at actual rates, driven by resilient local demand across major global markets despite a volatile macroeconomic environment and rising raw material costs.

Jewelry remains the engine of growth. Sales from Richemont’s four core jewelry houses, Cartier, Van Cleef & Arpels, Buccellati, and Vhernier, rose by 24 percent, marking a seventh consecutive quarter of double-digit growth.