Billionaire Johann Rupert, who is chairman of Swiss-based luxury-goods company Richemont, is betting big on the ‘second machine age’ of artificial intelligence and robots.
Richemont on Friday disclosed a 5% stake in another Swiss-based company Dufry AG, the world’s largest duty-free retailer.
What motivated the deal? Well, the 66-year-old luxury magnate told journalists that “man will have more free time” as robots emerge in the workplace over the next two decades.
For those who can afford it, this will fuel demand for their leisure. But there’s also a part of the global population who risk being sidelined, sparking questions about the stability of this robot future.