#2 Johann Rupert
Net worth: US$9.14 billion
Nationality: South African
Despite a difficult first half, Johann Rupert retained his position as not only South Africa’s richest man but also Africa’s second-richest man, trailing Nigerian billionaire Aliko Dangote.
Rupert’s net worth fell by US$2.76 billion in the first half of 2022, from US$11.9 billion at the start of the year to US$9.14 billion at the end of the first half.
The decline in his net worth is primarily due to a drop in the market value of his Richemont stake, as investors continue to sell down stakes in luxury goods holdings as part of a shift to a focus on capital preservation and investment in core assets.
#3 Nicky Oppenheimer
Net worth: US$8.5 billion
Nationality: South African
Nicky Oppenheimer, the leading billionaire who previously ran diamond mining firm DeBeers before selling it to mining firm Anglo-American a decade ago, has been able to close the wealth gap with Johann Rupert to less than US$700 million as he prepares to reclaim his position as South Africa’s richest man, which he briefly held in 2019.
Oppenheimer’s net worth increased by US$550 million in the first half of 2022, from US$7.95 billion to US$8.5 billion.
The US$550 million increase in his wealth can be attributed to his well-diversified investment portfolio in private equity firms, which he maintains through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
#4 Natie Kirsh
Net worth: US$7.6 billion
Nationality: Emaswati
Despite a staggering US$670-million drop in his net worth from US$8.27 billion to US$7.6 billion in the first half of 2022, Nathan “Natie” Kirsh retained his position as Africa’s fourth-richest man.
Kirsh made his fortune through his ownership of Kirsh Group, a closely held conglomerate that owns a majority stake in Jetro Holdings, a food supply company.
The decline in his net worth can be attributed in part to the performance of his stake in Jetro Holdings, which fell from US$4.9 billion to US$4.73 billion in the first half of 2022.
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