Nigerian billionaire Aliko Dangote has been surpassed by South African billionaire Johann Rupert as the richest person in Africa, according to the latest Bloomberg rankings. Rupert’s wealth has increased to $13.65 billion, making him the 154th richest person globally.
Dangote, who has held the top spot for the past decade, has seen his wealth decline due to the depreciation of the Nigerian naira. His fortune is largely tied to his 86% stake in Dangote Cement, a publicly traded company whose performance is closely linked to the Nigerian economy and currency.
In contrast, Rupert’s wealth is primarily derived from his stake in Cie Financière Richemont, a publicly traded luxury goods manufacturer and retailer. Since January, Rupert’s wealth has increased by $1.21 billion, while Dangote’s wealth has suffered significant losses due to the naira’s decline.
This shift in rankings highlights the impact of economic factors on individual fortunes and marks a change in leadership among Africa’s wealthiest individuals.
