South Africa’s Johann Rupert Overtakes Dangote As Africa’s Richest Man

South Africa’s Johann Rupert Becomes Africa’s Richest Man After Overtaking Nigeria’s Dangote In The Latest Data Released By Bloomberg Billionaires Index. 

Johann Rupert, South Africa’s billionaire, overtakes Dangote to become the richest person in Africa. In the latest ranking released by Bloomberg, Johann Rupert tops the list as the richest person in Africa 2024.

One of the world’s largest goods firms is controlled and owned by Johann Rupert. Popular brands like Montblanc and Cartier are all attached to the goods firm. Globally, he places 147th with a net worth of $14.3bn. Billionaire Johann Rupert is 12 places ahead of Dangote in the world ranking.

Aliko Dangote’s net worth has fallen drastically by $1.7bn, according to reports. According to Bloomberg, his current net worth sits at $13.4bn. The drastic fall of Mr. Dangote’s wealth is from the challenging and depressing economic situation in Nigeria, where his conglomerate largely operates.

Nigeria, being the most populated country in Africa, voted President Bola Tinubu into power last year, and since then, he has introduced numerous economic reforms which have contributed to the high inflation. The current inflation in Nigeria is above 30%. According to President Bola Tinubu, the economic reforms were necessary for the future of the nation and this will also reduce government spending.

The value of the Naira currency has drastically fallen and this has hugely affected Aliko Dangote. Most of his assets are dominated in the Naira currency. Billionaire Aliko Dangote made most of his fortune in the sugar and cement industries. Just last year, he opened an oil refinery in Lagos.

Lately, the Dangote Group has faced several setbacks and issues in the past months. These setbacks are due to production delays at the refinery sector and the disruption of the supply chain.

In January this year, Forbes Magazine listed Dangote as Africa’s richest man. The release from Forbes Magazine in January made him Africa’s richest man for the 13th year in a row. An impressive record that he has set for himself.

The latest ranking from Bloomberg places him as the second-richest man in Africa and the 159th richest man in the world.

Mr. Rupert Johann resides in Cape Town and has been vocal about environmental and political issues in Africa. He has properties in London and Geneva as well. According to Bloomberg, South Africa’s Nicky Oppenheimer ranks as the third-richest person in Africa, with a net worth of $11.3bn.

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