In a shift at the top of Africa’s wealth hierarchy, Johann Rupert, chairman of Richemont, has surpassed Aliko Dangote, chairman of Dangote Industries Limited, to become the continent’s richest person, with a fortune of $14.3 billion.
Rupert’s net worth has surged to $14.3 billion, eclipsing Dangote’s fortune, which has declined to $13.4 billion, according to the latest data from the Bloomberg Billionaires Index.
This significant shift was attributed to a $1.87 billion increase in Rupert’s wealth year-to-date, while Dangote’s fortune has dropped by $1.69 billion.
“Africa’s wealth landscape was constantly evolving, and this shift is a testament to the dynamic nature of our continent’s economy,” said Johann Rupert.
The decline in Dangote’s net worth was largely attributed to Nigeria’s challenging macroeconomic environment, where his conglomerate primarily operates.
Since President Bola Tinubu assumed office in 2023, the naira has lost value, impacting the Dangote Group’s operations.
“The downturn in our net worth is a temporary setback, and we remain committed to our expansion plans,” said Aliko Dangote.
Despite the challenges, the Dangote Group aims to generate $30 billion in revenue by 2025, focusing on expanding its influence in the foreign exchange market.
It is now said that the top five richest people in Africa are Johann Rupert with $14.3 billion followed by Aliko Dangote with $13.4 billion then Nicky Oppenheimer $11.3 billion, Nassef Sawiris $9.37 billion and Natie Kirsh – $9.14 billion.
This shift in Africa’s wealth landscape has highlighted the importance of adapting to changing economic conditions and diversifying investments.
Boluwatife Enome
Follow us on:
