Johann Rupert overtakes Aliko Dangote as Africa’s richest person

South African businessman Johann Rupert has surpassed Nigerian industrialist Aliko Dangote to become Africa’s richest person, according to the Bloomberg Billionaires Index released on Tuesday.

Rupert, the chairman of Richemont, a luxury goods conglomerate, now holds a net worth of $14.2 billion, overtaking Dangote, chairman of Dangote Industries Limited, whose fortune has declined to $13.4 billion.

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The latest data shows that Rupert’s wealth has increased by $1.87 billion year-to-date, while Dangote’s net worth has dropped by $1.69 billion, largely due to Nigeria’s challenging macroeconomic conditions, which have impacted Dangote’s businesses.

Following Rupert and Dangote, South African billionaire Nicky Oppenheimer is in third place with a net worth of $11.3 billion, followed by Egyptian businessman Nassef Sawiris with $9.37 billion, and South African investor Natie Kirsh with $9.14 billion.