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South Africa’s Richest Man Loses $1.05 Billion, Another Businessman On Track To Receive $5.2 Million

South Africa’s richest man Johann Rupert saw his net worth fall by more than a billion dollars in September, as his stake in Richemont continues to fall closely reflecting the shares of the leading group on the Swiss Stock Exchange and Johannesburg Stock Exchange.

Richemont is a dual-listed Swiss luxury goods holdings company, Billionaires Africa reported.

According to Bloomberg Billionaires Index data, Rupert’s net worth fell by $1.05 billion between Sept. 1 and 30, falling from $9.37 billion to $8.32 billion.

The billion-dollar drop in his net worth follows a $610-million decrease in August, bringing his year-to-date wealth loss to $3.55 billion, making him the only African billionaire to have lost more than $3 billion since the beginning of the year.

Despite his $3.55-billion net worth drop, Rupert remains Africa’s second-richest man, trailing only Nigerian billionaire industrialist Aliko Dangote. He is still South Africa’s richest man, ahead of Nicky Oppenheimer, who has a net worth of $8.32 billion.

Meanwhile, another South African businessman Petrus Johannes (Piet) Mouton is on track to receive R93.6 million ($5.2 million) in interim dividends from his stake in Capitec Bank, according to Billionaires Africa.

The $5.2-million interim profit he is set to receive will be paid from the bank’s retained earnings of R29.54 billion ($1.66 billion).

The interim dividends will be paid into Mouton’s bank account, as well as the bank accounts of entities related to him on Monday, October 24, as part of a total dividend payout approved by the group’s board of directors of R1.62 billion ($89.78 million).

Capitec Bank is a leading South African bank with one of the country’s largest customer bases. It presently operates 856 branches and 7,436 ATMs across South Africa.

Mouton, a prominent businessman who heads PSG Group, a South African investment holding founded by his father, Jannie Mouton, in 1995, owns 5.78 percent of Capitec Bank.

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