Johann Rupert, the South African billionaire and chairman of Richemont, has officially overtaken Aliko Dangote as Africa’s richest person, with a net worth of $14.3 billion.
Dangote, who had maintained the top position for several years, saw his wealth drop by $1.7 billion year-to-date in the latest Bloomberg Billionaires Index, on Wednesday as Rupert’s wealth increased by $1.87bn year-to-date.
Rupert’s luxury goods conglomerate includes renowned brands such as Cartier and Montblanc, contributing to his increased wealth. On the other hand, Dangote’s fortune has declined to $13.4 billion, largely due to Nigeria’s challenging macroeconomic environment and the devaluation of the naira .
Rupert’s wealth has increased by $1.87 billion year-to-date, while Dangote’s fortune has declined by $1.69 billion over the same period. Nicky Oppenheimer, another South African billionaire, ranks third with a net worth of $11.3 billion, followed by Nassef Sawiris, an Egyptian businessman, with $9.37 billion, and Natie Kirsh, a South African investor, who completes the top five with $9.14 billion.
