Johannesburg – Atul Gupta, close friend to President Jacob Zuma and chairperson at Oakbay Resources and Energy, is wealthier than Richemont chairperson, Johann Rupert.

This is according to the Business Times Rich List 2016, released on Sunday. According to the report by Sunday Times, Atul Gupta is the seventh wealthiest South African and the top earning black businessman.

Gupta’s personal wealth is valued at R10.7bn, more than Rupert’s R10.6bn. Gupta did not feature on the list last year as Oakbay Holdings was only listed in November 2014, according to the Sunday Times.