Billionaire businessman and industrialist, Alhaji Aliko Dangote has lost his position as Africa’s richest man to South African businessman, Johann Rupert.
In the latest data from the Bloomberg Billionaires Index released on Tuesday, Rupert, chairman of luxury goods conglomerate Richemont, overtook Dangote, chairman of Dangote Industries Limited, as Africa’s richest person.
According to the BBI, Rupert’s net worth has soared to $14.2 billion, surpassing Dangote, whose fortune has declined to $13.4 billion.
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Data shows that Rupert’s wealth has increased by $1.87 billion this year, while Dangote’s wealth has decreased by $1.69 billion.
Nicky Oppenheimer, another South African billionaire, came in 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, rounding out the top five with $9.14 billion.
Dangote’s decline in net worth is largely due to Nigeria’s challenging macroeconomic environment in which his conglomerate operates.
By; Babajide Okeowo
Dangote loses Africa’s richest man spot to South African billionaire first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.
