CAPE TOWN - Johann Rupert, South Africa’s richest man according to Bloomberg, has earned a salary of R39 million for 2018.
Rupert, the founder and chairman of luxury goods company Richemont, earned less this year than what he did last year. Richemont has published its annual report for the 2018 financial year, showing what the group paid its senior executives for the year.
Rupert’s total pay resulted to CHF 3.06 million (R39.3 million), down from CHF 3.2 million (R41.7 million) in 2017.
According to Bloomberg’s billionaire list, as of May 31, 2018, Rupert is the world’s 193rd richest person, and the richest in South Africa, boasting a fortune of $7.84 billion, down $257 million (R3.2 billion) from the start of the year.
However, it has increased $400 million (R5 billion) from the same time last year. Since October 2017, Rupert’s annual compensation was reduced by CHF 0.5 million (R6.4 million) to CHF 2.7 million (R34.6 million).
This total is split equally between salary and pension contributions. During the period under review no variable compensation was awarded, the group said.
Richemont’s top executives earned a combined total of CHF 26,773,026 for the year (R343 million).
The total remuneration for the Board of Directors– a total of 21 people, including Absa CEO, Maria Ramos and former Richemont CEO, Richard Lepeu, amounted to CHF 11,955,671 (R153.4 million), taking total compensation for the executive committee to CHF 38,728,697 (R496.8 million).
Here is the list of Richmont's top excutives pay:
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Executive Role Total pay (CHF) ZAR Cyrille Vigernon President & CEO of Cartier 6 001 135 R77.0 million Jerome Lambert COO 4 891 538 R62.8 million Nicolas Bos President & CEO of Van Cleef & Arpels 4 615 238 R59.2 million Burkhart Grund CFO 3 251 099 R41.7 million Johann Rupert Chairman 3 066 825 R39.3 million Gary Saage CFO (former) 2 960 560 R38.0 million Other executives 5 053 456 R64.8 million Total 26 773 026 R343.5 million