Johann Rupert to receive $20.7 million dividend from Reinet

Key Points

• Johann Rupert, South Africa’s richest man, is set to earn $20.7 million in dividends from Reinet following the company’s strong net asset growth in fiscal 2025.
• Reinet’s NAV rose 11.85% year-over-year to $7.89 billion, driven by strategic exits like BAT and high-yield investments including Pension Insurance Corporation Group.
• With a 24.9% stake in Reinet, Rupert remains its largest shareholder, and his holdings now contribute $1.32 billion to his $16.4 billion fortune.

South Africa’s richest man, Johann Rupert, is set to receive nearly $21 million in dividends from Reinet Investments (Reinet) after the Luxembourg-based firm posted strong net asset growth for the fiscal year ended March 31, 2025.

Rupert, who holds a 24.9 percent stake, equivalent to 48.8 million shares, in Reinet, is the largest individual beneficiary of the firm’s final dividend payout of €0.37 ($0.42) per share, totaling R1.49 billion ($82.9 million). The distribution will follow the company’s annual general meeting in September 2025.

Commitment to shareholder returns

Reinet’s net asset value rose 11.85 percent year-on-year to €6.92 billion ($7.89 billion), up from €6.18 billion ($6.73 billion) in the previous fiscal year. Since its 2008 demerger from Richemont, Reinet has recorded a compound annual growth rate of 8.4 percent, climbing from €1.85 billion ($2.1 billion), inclusive of dividends paid.

During the fiscal year, Reinet distributed a dividend of €0.35 ($0.33) per share, totaling around €64 million ($73.1 million), excluding treasury shares. The firm has, however, proposed a dividend of €0.37 ($0.423) per share to be paid after the September 2025 annual general meeting, reflecting its commitment to delivering consistent returns to its shareholders.

Following its full exit from British American Tobacco—once its cornerstone holding—Reinet received €366 million ($397.9 million) in proceeds and dividends. The tobacco firm had contributed €98 million ($106.5 million) in dividend income during the year. The firm also committed €39 million ($42.4 million) to new investments and funded a total of €144 million ($156.7 million), reflecting its ongoing strategy of portfolio diversification. One of the key drivers of NAV growth was Reinet’s investment in Pension Insurance Corporation Group, which paid out £198 million ($251.6 million) in dividends, solidifying its position as a core holding.

Reinet’s diversified portfolio drives value

Founded after its demerger from Richemont in 2008, Reinet has transformed from a tobacco-focused firm into one that prioritizes long-term value creation across multiple sectors. Rupert’s stake in Reinet is now worth R23.67 billion ($1.32 billion), according to the Bloomberg Billionaires Index, contributing to his total net worth of $16.4 billion.

Despite broader market uncertainties, Reinet has benefited from a diversified investment approach and proactive portfolio management. The firm’s shift away from tobacco assets toward long-term, value-oriented investments continues to support its growth trajectory.