Johann Rupert of South Africa has surpassed Aliko Dangote, the President of the Dangote Group, to become the richest person in Africa.
Dangote, who had maintained the top position for several years, saw his wealth decrease by $1.7 billion year-to-date, as reported in the latest Bloomberg Billionaires Index released on Wednesday. In contrast, Rupert’s net worth increased by $1.87 billion during the same timeframe.
The Bloomberg Billionaires Index offers a daily ranking of the wealthiest individuals worldwide.
At 74, Rupert manages Cie Financiere Richemont, the largest luxury watchmaker globally, through a family trust. The company, based in Bellevue, Switzerland, is home to renowned brands like Jaeger-LeCoultre and Cartier.
Rupert’s investments also include Remgro, an investment firm located in Stellenbosch, South Africa, which has stakes in over 30 companies.
Conversely, Dangote’s wealth is largely derived from his 86% stake in publicly traded Dangote Cement. He holds shares in the company both directly and through his conglomerate, Dangote Industries.
In addition to Dangote Cement, his publicly traded assets include interests in Dangote Sugar, Nascon Allied Industries, and United Bank for Africa. His investments cover a range of sectors, including food production, fertilizer, and oil. He is also the owner of the Dangote Refinery, a massive facility in Lagos State with a capacity of 650,000 barrels per day.
Other prominent African billionaires in the top five include Nicky Oppenheimer from South Africa, ranked third with a net worth of $11.3 billion; Nassef Sawiris from Egypt with $9.37 billion; and Natie Kirsh from South Africa with $9.14 billion.
According to the Bloomberg Billionaires Index, the ten richest individuals in the world are:
1. Elon Musk (United States) — $236 billion
2. Bernard Arnault (France) — $198 billion
3. Jeff Bezos (United States) — $197 billion
4. Mark Zuckerberg (United States) — $185 billion
5. Bill Gates (United States) — $160 billion
6. Larry Ellison (United States) — $153 billion
7. Larry Page (United States) — $149 billion
8. Warren Buffett (United States) — $145 billion
9. Steve Ballmer (United States) — $144 billion
10. Sergey Brin (United States) — $140 billion
Olayiwola Ajisafe is a multimedia journalist and digital copy editor with over four years of experience.
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