Johann Rupert Surpasses Aliko Dangote as Africa’s Wealthiest Individual in latest Rankings”

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Johann Rupert, the South African luxury goods tycoon, has clinched the title of Africa’s wealthiest individual, toppling Aliko Dangote, who held the position for 12 consecutive years, according to the latest rankings by Naija247news. Forbes Magazine’s annual list reveals significant wealth declines among African billionaires in the past year.

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Dangote slid to the second position as his net worth dwindled from $13.5 billion in 2023 to $9.5 billion in early 2024. Meanwhile, Rupert’s fortune saw a slight dip from $10.7 billion to $10.3 billion, securing his status as Africa’s new wealthiest individual.

Nigerian billionaires, Mike Adenuga and Abdulsamad Rabiu, also faced substantial wealth losses. Rabiu dropped from the 4th to the 5th position, witnessing his net worth shrink from $7.6 billion to $5.9 billion. Adenuga’s fortune plummeted from $6.3 billion to $3.1 billion, pushing him down the list from 6th to 10th place.

Experts attribute the decline in the wealth of Nigerian billionaires to naira devaluation and economic policies. The collective reduction in the wealth of Africa’s richest individuals highlights the economic challenges prevalent across African nations.

Others in the top 10 include South African businessman Nicky Oppenheimer ($8.3 billion), Egyptian businessman Nassef Sawiris ($7.4 billion), South African businessman and philanthropist Nathan Kirsh ($5.8 billion), Algerian businessman Issad Rebrab ($4.6 billion), Egyptian businessman Mohamed Mansour ($3.6 billion), and Egyptian billionaire Naguib Sawiris ($3.3 billion).

Editorial Staff
Editorial Staffhttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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