Wealth wars: Nicky Oppenheimer ‘now richer’ than Johann Rupert

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With each man’s fortunes fluctuating throughout most of 2022, Nicky Oppenheimer saw his net worth eclipse Johann Rupert’s – for the first time in over three years. However, there’s not a great deal to separate the pair.

Nicky Oppenheimer vs Johann Rupert: Who is worth more?

Last month, Nicky Oppenheimer pulled ahead of his rich rival, to officially retake the title of ‘South Africa’s richest citizen’. This lasted for about 48 hours, though. Estimates from the Bloomberg Billionaire Index then valued Johann Rupert as the wealthiest man in Mzansi again.

This back and forth had cooled for the past few weeks, but on Monday, a new update to the index confirmed that Nicky Oppenheimer is back at #1, with a gap of about $100 million separating him from Mr. Rupert.

Ups and downs: How both men have fared in 2022

Oppenheimer is heir to the De Beers mining stake, and his net worth is relatively stable. As it stands, he is sitting on a personal fortune of $8.7 billion. The money-man now $750 million BETTER OFF than he was 12 months ago, too.

For Johann Rupert, however, it’s a different story. Over $3 billion has been wiped off of his estimated net worth, as his luxury goods company struggles to deal with the repercussions of the Ukraine invasion, and subsequent sanctions against Russian oligarchs.

The cost of living crisis and its associated economic slump have also put the brakes on the ‘opulence market’. Worth over $12 billion at the start of the year, Rupert’s balance has now dropped down to $8.59 billion – reducing him to being merely the second-richest person in SA.

Despite this sharp downturn for Johann Rupert, we won’t be starting a Crowdfunder for him any time soon. According to the current exchange rate, he’s still got R137.5 billion in the bank. Nicky Oppenheimer, meanwhile, is sitting pretty with R139 billion.

  • The Bloomberg Billionaire Index is updated daily, and remains subject to change. All values correct as of Monday 20 June 2022.

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