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.