The extraordinarily rapid evolution of the born-again giant Sakurai's objec
t following discovery in 1996 has been investigated. The evolution can be t
raced both in a continued cooling of the stellar surface and dramatic chang
es in chemical composition on a timescale of a mere few months. The abundan
ce alterations are the results of the mixing and nuclear reactions which ha
ve ensued due to the final He-shell flash which occurred during the descent
along the white dwarf cooling track. The observed changes in the H and Li
abundances can be explained by ingestion and burning of the H-rich envelope
and Li-production through the Cameron-Fowler mechanism. The rapidly increa
sing abundances of the light s-elements (including Sc) are consistent with
current s-processing by neutrons released from the concomitantly produced C
-13. However, the possibility that the s-elements have previously been synt
hesized during the AGE-phase and only mixed to the surface in connection wi
th the final He-shell flash in the pre-white dwarf cannot be convincingly r
uled out either. Since Sakurai's object shows substantial abundance similar
ities with the R CrB stars and has recently undergone R CrB-like visual fad
ing events, the "birth" of an R CrB star may have been witnessed for the fi
rst time ever. Sakurai's object thus lends strong support for the suggestio
n that at least some of the R CrB stars have been formed through a final He
-shell flash in a post-AGE star.