Johann Rupert’s business empire is majorly composed of significant shareholdings in three major heavily diversified entities; South African-based Remgro, Swiss-based Richemont, and Luxembourg-based Reinet Investments.
Contents
- Richemont – 12% equity
- Reinet – 24.93% equity
- Remgro – 43.2% equity
- Mediclinic (50.0% Remgro interest)
- Heineken Beverages (18.8% Remgro interest)
- RCL Foods (80.3% Remgro interest)
- Siqalo Foods Proprietary Limited (100.0% Remgro owned)
- OUTsurance Group (30.6% Remgro interest)
- CIV Holdings Proprietary Limited (57.0% Remgro interest)
- FirstRand (2.2% Remgro interest)
- Discovery (7.8% Remgro interest)
- Air Products South Africa Proprietary Limited (50.0% Remgro interest)
- Total Energies (24.9% Remgro interest)
- KTH (43.5% interest)
Richemont – 12% equity
The bulk of Johann Rupert’s wealth is drawn from his shareholding in Compagnie Financière Richemont S.A, a Swiss-based luxury goods company he founded in 1988.
While 537 million class A shares are listed in both the Six Swiss and Johannesburg Stock Exchanges, Johann Ruppert controls another set of 537 million unlisted class B shares which gives him 50% voting rights.
The class B shares however account for just 9.1% of the equity of the company.
With an additional 3% class A shares in the company, Rupert’s family interests in Richemont are worth an estimated US$ 10 billion.
Worth over US$ 86 billion in March 2024, Richemont has a portfolio of over 20 luxury jewelry, watches, fashion, and accessories;
- Jewellery – Buccellati, Cartier, and Van Cleef & Arpels
- Luxury Watches – Piaget, Panera, Roger Dubuis, A. Lange & Sohne, Baume$ Mercier, IWC Schaffhausen, Jaeger-lecoultre, and Vacheron Constantin.
- Fashion & Accessories – Dunhill, Alaia Paris, AZ Factory, Chloe, Delvaux, Gianvito Rossi, montblanc, Peter Millar, Purdey, and Serapian
As of March 2024, Richemont was the fifth largest luxury goods company in the world with a market capitation of US$ 86.61 billion, behind French juggernauts; LVMH ($ 460 billion), Hermès ($266.94 billion), Dior ($155.5 billion), and EssilorLuxottica ($102.15 billion).
Reinet – 24.93% equity
Reinet, the investment vehicle the Ruperts formed to manage their interests in British American Tobacco (BAT), has since expanded its reach into tech, insurance, and financial services.
Through the Anton Rupert Trust, the Anton Rupert Descendants Trust, and affiliated parties, Johann Rupert controls 48.8 million Company shares representing 24.93 percent of Reinet’s issued share capital.
As per their September 2023 interim financial report, Reinet’s portfolio was worth US$ 6 billion and included the following listed and unlisted entities:
British American Tobacco Plc
2023 Reinet financial report shows that it holds 48.3 million BAT shares accounting for a 2.16% stake in the third largest tobacco company in the world.
The BAT investments account for about 25% of Reinet’s entire portfolio.
Grab Holdings Limited
Grab is a leading app platform that provides taxi-hailing services, food delivery services, and an e-wallet segment of financial services across 480 cities in Southeast Asia.
In 2023, Reinet held about 10.5 million shares in Grab with a market value of US$ 38 million.
Twist Bioscience Corporation (‘Twist’)
Reinet holds 444,497 shares in Twist with a market value of US$ 10 million as of September 2023
Pension Insurance Corporation Group Limited
Reinet has a 49.5% interest in this UK-based provider in the UK pension risk transfer market
Reinet’s other investments are spread across several private equity investment advisory companies such as; Trilantic North America, Trilantic Europe, TruArc Partners LP, Coatue Management L.L.C, Shanghai-based Milestone China Opportunities fund and management company, Prescient China funds and management company, Singapore-based Asia Partners funds, and venture capital firm ND (NanoDimension) Capital.
Remgro – 43.2% equity
Listed in South Africa at both the Johannesburg Stock Exchange (JSE) and the A2X, Remgro investment’s portfolio has transformed significantly since its foundation was set in the 1940s by the late Dr Anton Rupert.
As of 2022 through the holding company, Rupert Beleggins Proprietary Ltd, Johann Rupert and Family owned all 39 million unlisted B-shares in Remgro. Each unlisted B-share carries 10 voting rights.
Together with his son Anton Rupert Jr, they also own 7.5 million of the listed ordinary shares carrying one vote each.
Their unlisted B-shares plus the 7.5 million ordinary shares accords the Ruperts 43.2% control of Remgro.
Remgro’s 2023 financial report highlights its diversified interests spanning healthcare, consumer products, financial services, infrastructure, industrial, and media as follows:
Mediclinic (50.0% Remgro interest)
Incorporated in the United Kingdom, Mediclinic is a private healthcare chain that operates over 130 hospitals and health clinics in Southern Africa, the United Arab Emirates, Switzerland, and the United Kingdom.
Heineken Beverages (18.8% Remgro interest)
In April 2023, global brewer Heineken bought controlling shares in Distell Group Holdings Limited and Namibia Breweries Limited.
The two were merged with Heineken South Africa to form Heineken Beverages.
Remgro, which previously had majority shares in Distell now has a minority 18.8% stake in the larger entity.
The entity is the world’s second-biggest producer of ciders and many other popular wine, beer, and spirits brands such as; Heineken, Windhoek Lager, Savanna, Amarula, 4th Street, and Amstel.
RCL Foods (80.3% Remgro interest)
You can’t miss an RCL Foods product in any South African household.
The company produces; Sugar, Rusks, Bread, Mayonnaise, Peanut Butter, Maize Flour, Wheat Flour, Pies, Bread, Buns, Rolls, non-alcoholic drinks, Chicken Products, and Animal Feeds that are sometimes presented in competing brand names and are available everywhere; from spaza shops to supermarket chains.
Siqalo Foods Proprietary Limited (100.0% Remgro owned)
In 2017 Remgro formed Sigalo to take over Unilever’s spreads business in Southern Africa.
The spreads business plus about US$ 330 million cash was consideration for Remgro’s minority (25.75%) stake in Unilever South Africa.
The transaction meant Remgro took control of leading brands; Rama, Stork, Flora, and Rondo in South Africa, Botswana, Lesotho, Namibia, and Swaziland.
OUTsurance Group (30.6% Remgro interest)
Insurance and financial services providers in South Africa and Australia, offering car, home, business, life, funeral, and pet insurance.
CIV Holdings Proprietary Limited (57.0% Remgro interest)
South African holding company that builds, owns, maintains, and monitors its fiber-optic network and related infrastructure.
FirstRand (2.2% Remgro interest)
Listed on both the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), FirstRand Limited is the largest financial institution by market capitalization in Africa.
At US$ 18.32 billion in April 2024, Remgro’s interests are worth US$ 403 million.
Its portfolio includes; South Africa’s banks FNB and Wesbank, Africa and India-based investment bank RMB, UK specialist bank Aldermore, and UK vehicle finance company MotoNovo Finance.
Others are Ashburton Asset Managers, Insurance and Loans company Direct Axis and MotoVantage.
Discovery (7.8% Remgro interest)
A Johannesburg Stock Exchange-listed financial services group that provides; life insurance, medical scheme administration, short-term insurance, long-term savings, and banking services in South Africa and the UK.
As of April 2024, Discovery Limited had a market cap of $4.08 Billion making Remgro’s interests worth US$ 318 million.
Air Products South Africa Proprietary Limited (50.0% Remgro interest)
Produces oxygen, nitrogen, argon, hydrogen, and carbon dioxide for industrial use.
Total Energies (24.9% Remgro interest)
Deals with the refining and marketing of petroleum and petroleum products in South Africa, as well as distribution to neighboring countries.
Total Energies SA holds a 36.36% equity interest in National Petroleum Refiners of South Africa Proprietary Limited (Natref).
The French multinational TotalEnergies has a 50.1% controlling stake in the company with Remgro having 24.9% and the rest being held by smaller shareholders.
KTH (43.5% interest)
A majority black-owned and managed investment holding company with interests in Media, Insurance, Health, Financial Services, and Food Industries.
Some of its businesses include; Momentum Metropolitan, Lupo Bakery, Jacaranda FM, EastCoast Radio, Kaya FM, Me Cure Healthcare, and Servest.
Others include; eMedia Investments that operates free-to-air television channels (e.tv, eMovies, eMovies Extra, eExtra, eToonz and eReality), eNews Channel Africa (eNCA), free-to-air satellite platform Openview and Gauteng-based radio station, Yfm; Capevin, SEACOM, Wispeco, Prescient China Equity Fund, Invenfin, and investments in several other global equity management funds.
Away from profit-oriented investments, Remgro is also the owner and biggest sponsor of Blue Bulls Professional Rugby Union and Stellenbosch Football Club which plays in the South African Premier Soccer League.
