South African billionaire displaces Aliko Dangote as Africa’s richest person

By Abubakar Yunusa

Johann Rupert, a South African business mogul, has clinched the coveted spot of Africa’s wealthiest person, displacing Aliko Dangote, Nigeria’s business tycoon.
This was disclosed by Forbes Real-Time Billionaires, a ranking platform which tracks daily changes to the net worth of the most high-net-worth individuals across the globe.
According to the real-time data, Dangote, the founder of the Dangote Group conglomerate, moved down to second position after his wealth decreased from $13.5 billion in 2023 to $9.7 billion as at January 4, 2024 — indicating a $3.8 billion loss.
Similarly, Rupert’s net worth decreased from $10.7 billion in 2023 to $10 billion in the same period in 2024.
Rupert, a 73-year-old, is the chairman of Compagnie Financiere Richemont, a Swiss luxury goods firm best known for the brands Cartier and Montblanc.
Meanwhile, Abdul Samad Rabiu, the chairman of BUA Group, and Mike Adenuga, the chairperson of Globacom, also lost their positions on the billionaire list.
According to Forbes’ ranking, Adenuga’s wealth decreased from $6.3 billion in 2023 to $3.1 billion on Thursday, while Rabiu’s wealth moved from $7.6 billion to $5.7 billion.
Consequently, Adenuga moved to the 10th position from the 6th, while Rabiu moved from the 4th position to the 6th.
Here’s a full list of the top ten Forbes billionaires ranking in Africa.
1. Johann Rupert & family — $10 billion,2. Aliko Dangote — $9.7 billion
,3 Nicky Oppenheimer & family — $8.3 billion,4. Nassef Sawiris — $7.3 billion,5. Nathan Kirsh — $5.8 billion,6. Abdulsamad Rabiu — $5.7 billion,7. Issad Rebrab & Family — $4.6 billion, Mansour — $3.6 billion,9. Naguib Sawiris — $3.3 billion and 10. Mike Adenuga — $3.1 billion.
On the other hand, checks on the Bloomberg Billionaires Index shows that Dangote still maintains his position as Africa’s richest man with a net worth of $15.4 billion, while Rupert’s net worth is $12 billion.
Dangote, had on June 15, 2023, lost $3.12 billion following Nigeria’s decision to float the local currency and unify its exchange rate system. By June 30 in the same year, the billionaire increased his wealth by $20.7 million through investments in the industrial sector — thereby cementing his spot as Africa’s richest man.
The billionaire’s fall in Forbes billionaire ranking could be attributed to the devaluation of the naira as “net worths were calculated using stock prices and currency exchange rates from the close of business on Friday, January 13, 2023″.