South Africa’s richest man criticises world’s tech billionaires

Cape Town – South African billionaire Johann Rupert has accused some of the world’s most influential technology entrepreneurs of lacking empathy, raising concerns about the human cost of rapid technological advancement and the growing influence of artificial intelligence (AI).

Rupert, chairman of Swiss luxury goods group Compagnie Financière Richemont, said empathy was a quality he prioritised when recruiting people and building his businesses, but believed it was missing among leading figures in the technology industry.

“In fact, I know all of them, and none of them has any empathy,” Rupert said, referring to some of the world’s biggest technology entrepreneurs, according to Billionaires.Africa.

His remarks were also highlighted by News24 Business, which carried a related report by journalist Paul Vecchiatto on Rupert’s views about empathy and leadership in the technology sector.

Growing concerns

The 76-year-old businessman made the comments amid growing concerns about the impact of AI on employment, inequality and the global economy.

Speaking at the 31st Commonwealth Agriculture Conference in Cape Town earlier this month, Rupert warned that artificial intelligence was disrupting skilled jobs and questioned whether technological progress was being accompanied by sufficient consideration for the people affected.

He cited Microsoft’s reported offer of voluntary exits to about 60,000 employees as an example of how quickly technology was changing the employment landscape.

According to The Profiler, Rupert also raised concerns about widening inequality, mounting public debt and the implications of leaving future generations to deal with growing economic and environmental challenges.

Global economic uncertainty

His concerns reflect broader warnings about global economic uncertainty. In his latest annual report, Rupert said technological change and artificial intelligence were reshaping the movement of capital, labour and ideas across borders.

As reported by TimesLIVE, he also called for policy certainty, reliable infrastructure and faster decision-making in South Africa, arguing that these were essential to unlocking the country’s economic potential.

Rupert has chaired Richemont since 2002. The Swiss-listed luxury group owns prestigious brands including Cartier, Van Cleef & Arpels and Montblanc. He also chairs investment holding company Remgro and is ranked by Forbes as South Africa’s richest person.