South African billionaire overtakes Dangote as Africa's richest
Johann Rupert has now claimed the title of Africa’s wealthiest man surpassing Aliko Dangote, according to the latest Bloomberg Billionaires Index.
Rupert, the South African businessman behind luxury goods powerhouse Richemont, now has a net worth of $14.3 billion. This represents a significant jump from his previous valuation, with an increase of $1.9 billion.
Rupert, 74, is the chairman of Richemont, which owns high-end brands like Cartier and Jaeger-LeCoultre. His wealth has propelled him to 147th place on the global billionaire list, moving him ahead of Dangote.
Aliko Dangote, the Nigerian industrialist who previously held the top spot for over a decade, now has a net worth of $13.4 billion. Dangote’s fortune has declined due to challenges in Nigeria’s economic environment, which have negatively affected his business empire.
His wealth mainly comes from his stake in Dangote Cement, as well as investments in sugar, flour, and the ambitious Dangote Refinery in Lagos.
He is now the continent’s second richest individual and ranks 159th globally.
Other billionaires in Africa include South African investor Nicky Oppenheimer, Egyptian billionaire Nassef Sawiris, and South African businessman Natie Kirsh, with net worths of $11.3 billion, $7.32 billion, and $9.14 billion, respectively.
