South African business magnate Johann Rupert has surpassed Aliko Dangote as Africa’s wealthiest individual
According to the latest real-time global billionaires ranking by Forbes Magazine, 73-year-old Johann Rupert, a prominent South African businessman, has taken the top spot as the richest person in Africa, surpassing Nigeria’s billionaire, Aliko Dangote. Rupert’s estimated net worth is $12 billion, while Dangote trails behind with a net worth of $10.8 billion.
Rupert’s wealth is primarily derived from his ownership in Cie Financiere Richemont, a well-known luxury goods manufacturer and retailer. He has also made strategic investments in Remgro and Reinet.
In contrast, Dangote’s net worth has experienced a significant decline, largely attributed to the depreciation of the Nigerian naira. The Central Bank of Nigeria’s decision to auction the dollar at a lower rate than the official market price has had a substantial impact on Dangote’s financial standing.
These developments mark a significant shift in the landscape of African wealth, highlighting the dynamic nature of economic fortunes on the continent.
