The rest of the world is currently suffering the consequences of Russia’s attack on Ukraine. And South Africa’s own Johann Rupert is among those who’s been heavily hit by the economic effects of the invasion – so much so that it has been reported that the billionaire has lost close to R19 billion.
Lack of trade in the world makes for an uncertain future for Johann Rupert’s businesses
Thanks to the Bloomberg Billionaires Index, it’s been calculated that Rupert and his family have thus far lost R18.8 billion in 2022. And according to Business Insider – this may not be the end of it.
As more sanctions against Russia is implemented, the world is gradually becoming poorer due to the reduced trade. And as a result, the future of the luxury brands that fall under Rupert’s Cie Financiere Richemont becomes more uncertain.
The brand produces and sells jewellery, watches, leather goods, pens, firearms, clothing and accessories. Thus, it may have a hard time distributing products as more sanctions are placed on Russia.
But despite the loss, Johann Rupert still easily remains the richest person in the country with a remaining worth of well over R160 billion.
You win some, you lose some
While Rupert’s loss might seem like a jaw-dropping amount for the average person – it is not nearly close to what others have lost thus far.
Elon Musk, for example, has nearly lost 18% of his wealth – all in this year. And when converted to ZAR, Bloomberg estimates that he lost around R750 billion. And yet, currently, he still remains the richest person on Earth.
On the other hand, we have South Africa’s second-richest person, Nicky Oppenheimer, who became R5.7 billion richer in 2022. And according to Bloomberg, he now has a net worth of R128 billion.
And lastly of the South African representatives on the list is Ivan Glasenberg. The billionaire is from commodities trader Glencore, and also became richer by 14.7%. He is now worth R121 billion.
