Johann Rupert, South African billionaire and chairman of Richemont, a luxury goods conglomerate, has overtaken Aliko Dangote, chairman of Dangote Industries Limited, as Africa’s richest person, DECENCY GLOBAL NEWS reports.
According to the latest data from the Bloomberg Billionaires Index, Rupert’s net worth has surged to $14.3 billion, overtaking Dangote, whose fortune has declined to $13.4 billion.
The data shows that Rupert’s wealth has increased by $1.87 billion year-to-date, while Dangote’s fortune has declined by $1.69 billion. Nicky Oppenheimer, another South African billionaire, occupied the third place with $11.3 billion net worth, Nassef Sawiris, an Egyptian businessman, followed with $9.37 billion.
The downturn in Dangote’s net worth is largely attributed to Nigeria’s challenging macroeconomic environment.
Since President Bola Tinubu assumed office in 2023 and partially removed petrol subsidy while easing currency controls to attract foreign investment, the naira has lost its value.
