Rupert Overtakes Dangote as Africa’s Richest Person
South African luxury goods magnate Johann Rupert has made headlines after becoming the wealthiest person in Africa, according to the latest figures from the Bloomberg Billionaires Index. The 74-year-old billionaire has taken the top spot from Nigerian businessman Aliko Dangote, who had previously held the position.
Rupert’s net worth has increased to an impressive $14.3 billion, making him the richest person in Africa. His wealth is largely attributed to his control of the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust. The Switzerland-based company owns renowned brands like Jaeger-LeCoultre and Cartier.
In contrast, Dangote’s net worth has dropped to $13.4 billion, a significant decrease of $1.69 billion this year. The decline is largely attributed to the difficult economic conditions in Nigeria, which have negatively impacted his business empire.
Dangote’s wealth is largely tied to his 86% stake in Dangote Cement, which is publicly traded. His investments also include stakes in Dangote Sugar, Nascon Allied Industries, United Bank for Africa, and interests in food manufacturing, fertilizer production, oil, and the Dangote Refinery in Lagos.
Rupert is not the only South African billionaire on the list. Nicky Oppenheimer, another South African billionaire, comes in third with a net worth of $11.3 billion. He is followed by Egyptian businessman Nassef Sawiris, with a net worth of $9.37 billion, and South African investor Natie Kirsh, with a net worth of $9.14 billion.
This new ranking marks a significant shift in the billionaires’ landscape, with South African interests taking center stage. The decline of Dangote’s wealth highlights the challenges faced by Nigerian businesses amidst economic instability, while the rise of Rupert and Oppenheimer reflects the success of South African entrepreneurs.
