One of South Africa’s richest man Johann Rupert earned more than R55 million rand as chairman of luxury brand group Richemont, the company’s annual report revealed.
The report showed that Rupert was awarded CHf (Swiss franc) 3 093 068 (R55.7m at today’s exchange rate) for the financial year ended March – in total the company’s board of directors took home CHf 7 925 356 (R142m).
Rupert’s total compensation as Richemont’s chairman is more than most CEOs of big South African banks earn.
Rupert founded Richemont in 1988 – the group owns several prestigious names in the luxury industry including Cartier, Van Cleef & Arpels, Montblanc, dunhill and Chloé.
The largest significant shareholder of Richemont is Compagnie Financière Rupert, a Swiss company that holds shares controlled and principally owned by Rupert.
According to the Forbes Real Time Billionaires List, Rupert and his family are worth an estimated $4.9 billion (R85.6bn).
The company’s senior executives including its CEO Jérôme Lambert were paid a combined CHf 41 387 082 (R745m).
