
Johann Rupert’s Richemont supports YNAP with $114 million loan
Richemont backs YNAP with a $114 million credit line to bolster digital luxury expansion, following EU approval of Mytheresa’s acquisition of YNAP.
Richemont backs YNAP with a $114 million credit line to bolster digital luxury expansion, following EU approval of Mytheresa’s acquisition of YNAP.
The deal, executed through Richemont’s subsidiary Richemont Italia Holding S.P.A., is set to close on Apr. 23, 2025.
His stake in Richemont benefited from a 5% surge in shares following President Trump’s announcement of a three-month tariff pause, excluding China.
South Africa’s richest man, Johann Rupert’s net worth, surged by $1.1 billion in less than 24 hours, reaching $14.3 billion.
Since the start of March, Richemont’s shares have dropped more than 11 percent, bringing the value of his stake down from $12.5 billion to $11.5 billion.
Rupert owns a 10.18 percent equity stake in Richemont and controls 51 percent of its voting rights through 6.26 million “A” shares and 522 million “B” shares.
The $2.67 billion increase in January alone far exceeds the $1.3 billion he added throughout 2024.
Forbes' real-time billionaire rankings still list Rupert as Africa’s richest person, with a net worth of $13.1 billion.
The boost in Johann Rupert's wealth is tied to the performance of Richemont, the Swiss-based luxury conglomerate he chairs.
Richemont posts $16.7 billion nine-month sales, driven by record-breaking Q3 and resilience despite challenges, with Japan leading 25% regional growth.
This recent surge brings his wealth closer to crossing the $14-billion mark—a milestone last achieved in October 2024.
Johann Rupert's net worth surged to $13.8 billion, nearing $14 billion for the first time since October.
Johann Rupert stays South Africa’s richest as Richemont boosts his net worth to $13 billion.
Chinese demand slowdown weighs on overall performance, while other regions show resilience.
Richemont’s profit fell nearly 70% to €457 million ($490 million) due to weak Asian sales and a €1.22 billion ($1.31 billion) impairment on YNAP.
The decline is primarily attributed to fluctuations in his stake in Richemont, the luxury conglomerate that houses brands like Cartier and Chloé.