Johann Rupert is one of south africa’s best-known billionaires with shareholding in a large number of South African and international companies.
Forbes estimated Rupertโs wealth at $9.61 billion which is around R140 billion, this gives an idea of the scale of this business empire.
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Through Remgro, he has investments in the financial, healthcare, consumer, products, industrial, infrastructure, media, and sports industries.
Through Switzerland-based luxury goods holding company, Richemont, he boasts brands like Cartier, Dunhill, and Mont Blanc.
He also chairs Luxembourg-based investment company, Reinet, that houses its interests in British American Tobacco.
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Background
To understand Remgro, Richemont, Reinet and the Rupert family, let’s go back to the 1940s – Anton Rupert, the father of Johann Rupert, established the tobacco company Voorbrand, which he soon renamed it to Rembrandt.
The company entered the south African cigarette and tobacco industry in 1948.
Rembrandt wasn’t the only company Anton Rupert established in the 1940s, alongside DWR Herzog, they founded Distillers Corporation in 1945, with major interests in the wine and spirits industry.
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Fast forward 55 years later, Distillers Corporation merged with Stellenbosch Farmerโs Winery on the 20th of September 2000 to form Distell.
The name “Distell,” constitutes 3 letters from Distillers and 4 letters from Stellenbosch merged together.
Rembrandt was listed on the Johannesburg stock exchange in 1956.
From then on, the company expanded its interests through investments in banking and financial services, mining, printing & packaging, medical services, engineering, and food.
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Education
During this period, Johann Rupert studied finance and economics at the University of Stellenbosch, but dropped out in 1974 to pursue a career in business.
He then went to New York city to serve his business apprenticeship, he worked 2 years for Chase Manhattan, and 3 years for Lazard Freres.
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Business Journey
After gaining enough experience, he returned to South Africa in 1979 and founded Rand Merchant Bank, he was CEO until 1984, when Rand Merchant Bank and Rand Consolidated Investments merged to form RMB Holdings.
Johann Rupert left RMB Holdings to join his father’s company, the Rembrandt Group. In 1988, he founded another company, Richemont and was appointed non-executive director of Rothmans international.
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On top of that, he was named businessman of the year by Sunday Times, which was the first of many that came over the years.
In 1991, after being at Rembrandt for 7 years, he was finally appointed as chairman, that’s where he started executing the vision he had for the company.
In 1993, Rembrandt co-founded South Africaโs first cellular telephony company, Vodacom, but sold at stake in 2006 the British-based cellular group, Vodafone, for a whopping R15.6 billion.
In 1995, Rembrandt and Richmont consolidated their tobacco interests in Rothmans’ International. 4 years later, it merged these interests with those of British American Tobacco.
Since then, the investment in British American Tobacco, was held through a joint holding company in which Rembrandt and Richmont held shares.
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RE-Structure
In September 2000, Rupert restructured the Rembrandt Group which consisted of 4 listed companies at that time, the holding was collapsed into two listed companies: Remgro and Venfin.
Following the restructuring, Remgro represented Rembrandtโs established tobacco, financial services mining, and industrial interests.
While the telecommunication, and technology interests were housed in Venfin.
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In 2008, Reinet Investments was created as a result of the restructuring of Richemont. This allowed the Rupert family to spin off all non-luxuries related activities, and allow Richemont to focus purely on its core luxury investments.
It is securitisation vehicle incorporated under the laws of Luxembourg. It is listed on the Luxembourg Stock Exchange, Johannesburg Stock Exchange, and Euronext Amsterdam.
During November 2009, Remgro and Venfin merged together once again, this added media and technology interests to Remgroโs portfolio.
To this day, Johann Rupert still serves as
chairman of both Remgro and Richemont. His son, Anton Rupert Jr is a non-executive director at both companies.
To appreciate the scale of the business empire which the Rupert family has built over the last several decades, it is important to look at all the businesses in which Remgro, Richemont, and Reinet have shareholding.
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Remgro
Remgro owns a 32.3% stake in eMedia
Holdings which boasts brands like e.tv, eNCA, Openview, YFM, Open News, Sabido Properties, Sasani Studios, and Silverline 360.
Through a controlling 50.9% stake in
Community Investment Venture Holdings(CIVH), Remgro owns Vumatel, DFA, and Sqwidnet.
Remgro also owns a 25% shareholding
stake in SEACOM, a private company that launched Africa’s first broadband submarine cable system, along the continent’s Eastern and Southern coasts in 2009.
Through a 30.3% stake in Rand Merchant Investment Holdings, Remgro owns, Discovery, Momentum Metropolitan, OUTsurance, Hastings, RMI Investment Managers, and AlphaCode.
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In the banking sector, Rupert’s Remgro
has a 13.5% stake in First Rand, which owns, FNB, RMB, WesBank, Aldermore, MotoNovo, Ashburton Investments, DirectAxis, MotoVantage and FCC.
In the health care center, Remgro has a 42% shareholding in MediClinic International, which is a provider of
comprehensive, high-quality hospital
services in the Southern Africa, United
Kingdom, Switzerland and United Arab Imirates.
MediClinic boasts brands like Mediclinic, ER24, Intercare, MHR, Medical Innovations and Spire Healthcare.
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Remgro owns a 77.5% controlling stake
in RCL Foods, the leading South African
food manufacturer that employs over 21
000 people.
The company produces a wide range of
branded and private label food products
which includes: 5 Star Maize Meal, Bobtail, Bonzo, Canine, Cuisine, Catmor, Cobb, Dogmor, Driehoek, Feeds, Epol, Equus, Farmer Brown, Feline, Cuisine, RCL Foods, Mnandi Amahewu, Molatek, Monati, Nola, Number 1 Mageu, Optimizor, Ouma, Piemanโs, Rainbow, Rainbow Spices, Safari Braaipap, Selati, Sunbake, Super Mageu, Supreme Flour, Tafelberg, Ultra Cat, Ultra Dog, Vector, Yapper, and Yum Yum.
Remgro owns 30.65% shareholding stake in Distell, Africa’s leading producer and
marketer of wines, spirits, ciders and other ready-to-drink beverages.
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Some of the brands include: Hunters, Nederburg, Savanna, Drostdy Hof, Klipdrift, Paarl Perle, Richelieu, Sedgwicks, Old Brown Sherry, Two Oceans, JC Le Roux, Esprit, Scottish Leader, Three Ships, Durbanville Hills, Fleur De Cap, Oude, Meester, Van Rynโs, Knightโs Whisky, Obikwa, Pongracz, Black Bottle, Amarula, Bunnhabhain, Viceroy, 4th Street, Bainโs, Laureat, Bernini, Allesverloren, Autumn Harvest, Deanston, Cellar Cask and, Ship.
Remgro fully owns Siqalo Foods, the company is the manufacturer of spreads that are sold under market leading trademarks such as Rama, Flora, Stork, Rondo, Meadowland and Marvello.
Remgro owns a 24.9% stake in Total South
Africa, a subsidiary of Total Energies. The company covers the entire oil and gas chain, from crude oil and natural gas exploration, to power generation, transportation, and refining.
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Total South Africa includes the Total Service Stations, Total Fuels, Total Lubricants, and Total Gas
Remgro owns 34.9% shareholding in Kagiso Tiso Holdings, a black economic controlled company with much focus on investment, banking, services, media and strategic investments.
Popularly known as KTH, the company has
invested in Kagiso Media, Jacaranda FM, East Coast Radio, Urban Brew Studios, Juta, Media Mark, Future Managers, Kaya FM, Gagasi FM, OFM, Heart FM, Servest, Momentum, Metropolitan, INCA, Kagiso Asset Management, Me Cure Healthcare, Lupo Bakery, Actom and Nozala Investments.
Remgro owns a 23% shareholding stake in Grindrod, a logistic company that’s all about moving cargo, whether by road, railway, sea or even air.
It is a global business represented in over 24 countries worldwide.
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In the sporting world, Remgro’s subsidiary, Remgro Sports Investments(RSI), owns 37.5% of Blue Bulls, a Pretorian based
rugby team that participates in the annual curry cup tournament.
In 2018, Remgro bought Stellenbosch FC through Stellenbosch Academy of sports. The academy of sports is a professional sports training and preparation environment based in Stellenbosch and owned 100% by RSI.
Remgro also owns a 100% shareholding in
Wispeco Aluminum, the company manufactures and distributes extruded
aluminium across the whole of Africa. The
aluminum is used in the buildings, engineering, and durable good sectors.
Remgro owns a 50% shareholding stake
in Air Products South Africa, one of the
largest producer of industrial gases. The
company operates in over 50 countries worldwide.
And lastly, Remgro owns a 37.7% shareholding stake in PGSI, an investment
company holding a 90 stake in the PG Group.
PG Group is South Africa’s leading manufacturer, distributor and installer of high performance, automotive, and building glass products.
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Richemont
Switzerland-based Richemont produces and sells luxury clothing, accessories, writing pens, and firearms through its various subsidiaries including:
Cartier, Dunhill, Mont Blanc, A. Lange & Sรถhne, Azzedine Alaรฏa, Baume & Mercier, Buccellati IWC Schaffhausen, Giampiero Bodino, Jaeger-LeCoultre, Chloรฉ, Lancel, Officine Panerai, Piaget, Peter Millar, Purdey, Roger Dubuis, Vacheron Constantin, Van Cleef & Arpels and Ralph Lauren Watches.
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Reinet
Through its 4% stake in BAT, Reinet owns Vuse, Vype, Glo, Velo, Grizzly, Camel Snus, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel.
Johann Rupert is a firm believer that
learning shouldn’t end when you leave
school or university. He believes in
constantly bettering himself, this habit
is vitally important for business and
life success.
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