South Africa’s Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as Africa’s richest man, according to the Bloomberg Billionaires Index. Rupert, who controls the luxury goods firm Richemont, saw his net worth rise by $1.9 billion to $14.3 billion, placing him 12 spots ahead of Dangote globally. In contrast, Dangote’s wealth, primarily tied to his cement and sugar industries in Nigeria, declined by $1.7 billion to $13.4 billion. The industrialist’s wealth was affected by Nigeria’s challenging economic environment and the sharp depreciation of the naira. Despite Nigeria’s economic challenges, Dangote was recently declared Africa’s richest man for the 13th consecutive year by Forbes. However, the latest Bloomberg ranking places him second behind Rupert. Other top African billionaires include South Africa’s Nicky Oppenheimer, Egypt’s Nassef Sawiris, and South Africa’s Natie Kirsh who rank third, fourth, and fifth respectively.
SOURCE: BBC
