Johann Peter Rupert was born 1 June 1950. He is the eldest son of South African business tycoon Anton Rupert and his wife Huberte.

He is the chairman of the Swiss-based luxury-goods company Richemont as well as of the South African-based company Remgro.

Together with his family he was estimated to be worth $8 billion (R105,178,292,787)  and Forbes ranked him as one of the five richest Africans.

The ruling ANC has lashed out at the South Africa’s richest man, Johann Rupert after he said radical economic transformation is mere code for theft.

Speaking at the Richemont annual general meeting in Geneva on Wednesday, Rupert said radical economic transformation endorsed by President Jacob Zuma and the ANC, is no more than theft.

The governing party said Rupert’s comments are disingenuous and extremely opportunistic.

The ANC said its radical economic transformation stance aims to address the country’s inequality problems.

ANC national spokesperson Zizi Kodwa said Rupert benefited from apartheid’s exclusionary policies, and that his comments reveal an arrogant attitude to towards the country’s poor.

“Johan Rupert is an ungrateful parasite who amassed his wealth, not because of anything but the colour of his skin at the exclusion of the black majority who continue to suffer.

”We are coming to take what is rightfully ours, apartheid made you rich and you didn’t work for it,” Kodwa said.

“It’s unfortunate that people like him don’t use opportunities such as the meeting he was addressing in Geneva to invite more investors in South Africa, instead he’s calling for disinvestment in South Africa.

“We inherited a negative economy because there was no investment that’s why we say that in the first instance he’s ungrateful”.