BREAKING NEWS: South African billionaire, Johann Rupert edges out Dangote as Africa’s richest man

South African business mogul, Johann Rupert, has retained Africa’s richest man for the year 2024, after displacing Nigerian billionaire, Aliko Dangote.

This was revealed by Forbes Real-Time Billionaires, a ranking platform that tracks day-to-day alterations to the net worth of the most high-net-worth individuals in the world.

Forbes disclosed that Dangote, the founder of the Dangote Group conglomerate, moved down to second place after his wealth fell from $13.5 billion in 2023 to $9.7 billion as of Thursday, January 4, 2024 — indicating a $3.8 billion loss.

In the same vein, Rupert’s net worth decreased from $10.7 billion in 2023 to $10 billion in the same period in 2024.

Johann Rupert is the chairman of the Swiss luxury goods firm Compagnie Financiere Richemont.

The company is best known for the brands Cartier and Montblanc.

It was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father Anton formed in the 1940s.

He owns 7% of diversified investment firm Remgro, which he chairs, as well as 26% of Reinet, an investment holding company based in Luxembourg.

Rupert has been a vocal opponent of plans to allow fracking in the Karoo, a region of South Africa where he owns land.

Also, Abdul Samad Rabiu, the chairman of BUA Group, and Mike Adenuga, the chairperson of Globacom, lost their positions on the billionaire list.

According to Forbes’ ranking, Adenuga’s wealth plummeted from $6.3 billion in 2023 to $3.1 billion on Thursday, while Rabiu’s wealth increased 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

8. Mohamed Mansour — $3.6 billion

9. Naguib Sawiris — $3.3 billion

10. Mike Adenuga — $3.1 billion