Ask Nigeria Header Logo

Forbes releases top 10 African billionaires

Photo of author

By Mercy Kelani

Johann Rupert of S/A ($10bn) has replaced Aliko Dangote of Nigeria ($9.7bn).

The prestigious title of Africa’s richest individual has been taken over by Johann Rupert, a prominent business magnate hailing from South Africa, effectively dethroning Nigeria’s successful business tycoon, Aliko Dangote. This information was revealed according to the real-time billionaire rankings offered by Forbes, a platform that monitors the fluctuating wealth of the world’s most affluent individuals on a daily basis. As of January 4, 2024, Dangote, the mastermind behind the Dangote Group conglomerate, experienced a decline in his fortune from $13.5 billion in 2023 to $9.7 billion.

Consequently, this shift in wealth resulted in a loss of $3.8 billion, ultimately pushing him to the runner-up spot in real-time rankings. In a parallel manner, Rupert witnessed a decline in his total assets, which dropped from $10.7 billion in the year 2023 to $10 billion during that very time frame. At 73 years of age, Johann Rupert leads as the distinguished chairman of Compagnie Financiere Richemont, a renowned Swiss enterprise specializing in opulent merchandise.

Decline in Adenuga’s net worth from $6.3 billion to $3.1 billion.

This illustrious establishment is most prominently recognized for its widely acclaimed brands, namely Cartier and Montblanc. In contrast, there was a shift in fortunes for both Abdul Samad Rabiu, the esteemed leader of BUA Group, and Mike Adenuga, who holds the esteemed position of chairperson at Globacom, as they are no longer on the top part of the exclusive billionaire list. Forbes’ latest ranking revealed a significant decline in Adenuga’s net worth, dropping from $6.3 billion in 2023 to a $3.1 billion on Thursday, January 4, 2024.

Conversely, Rabiu experienced a decline in wealth as well, with his fortune decreasing from $7.6 billion to $5.7 billion. As a result, Adenuga experienced a shift in his ranking, moving down to 10th place from his previous position at 6th. Similarly, Rabiu’s position underwent a change, as he moved down from 4th place to take Adenuga’s former spot at 6th. Africa is home to a remarkable collection of wealthy individuals who have secured their positions as the top ten billionaires according to Forbes.

Vast fortune of Aliko Dangote amounts to $9.7 billion.

Here is the complete roster of these immensely affluent individuals in Africa: Johann Rupert & family , with a $10 billion net worth; the vast fortune of Aliko Dangote amounts to a remarkable $9.7 billion; Nicky Oppenheimer & family, with a net worth of $8.3 billion; the net worth of Nassef Sawiris stands at a staggering $7.3 billion; the financial fortune amassed by Nathan Kirsh amounts to an impressive $5.8 billion; Abdulsamad Rabiu boasts an impressive fortune that amounts to a staggering $5.7 billion; Issad Rebrab & Family has boasts a $4.6 billion net worth; Mohamed Mansour, heralded as one of Africa’s prominent billionaires, claims a staggering fortune of $3.6 billion; Naguib Sawiris, a prominent figure in the business world, possesses a staggering fortune of $3.3 billion; Mike Adenuga has also amassed a fortune of $3.1 billion.

Contrarily, an examination of the Bloomberg Billionaires Index reveals that Dangote continues to uphold his status as the wealthiest individual in Africa, boasting a fortune of $15.4 billion. In stark contrast, Rupert’s net worth trails behind with a mere $12 billion. On June 15, 2023, Dangote experienced a significant decrease in his fortune, amounting to a staggering $3.12 billion due to Nigeria’s implementation of a floating local currency and the unification of its exchange rate system.

Dangote remains Africa’s richest man — Bloomberg Billionaires Index.

However, within just 15 days, by June 30 of the same year, Dangote managed to bounce back and fortify his position as the wealthiest individual in Africa. Through strategic investments made in the industrial sector, he successfully generated an impressive $20.7 million, resulting in a notable rise in his overall wealth. The billionaire, having been affected by the devaluation of the naira, experienced a decline in their position within the Forbes billionaire ranking. This decline can be attributed to the method of calculating net worths, which takes into account stock prices and currency exchange rates as of the end of business on Friday, January 13, 2023.


Related Link

The Star: Website


The content on AskNigeria.com is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. There is data available online that lists details, facts and further information not listed in this post, please complete your own investigation into these matters and reach your own conclusion. AskNigeria.com accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website.

Fact Checking Tool - Snopes.com

5 1 vote
Rate This Article
5 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
AN-Toni
Editor
1 month ago

Forbes releases top 10 African billionaires.Johann Rupert of S/A ($10bn) has replaced Aliko Dangote of Nigeria ($9.7bn). – Express your point of view.

SarahDiv
Member
1 month ago

The shift in Forbes’ billionaire rankings is noteworthy, with Johann Rupert now leading as Africa’s richest. While Aliko Dangote’s wealth decline is concerning, it’s essential to consider fluctuations in currency exchange rates. Bloomberg still recognizes Dangote as Africa’s wealthiest. The dynamics of these rankings highlight the complexities of assessing individual fortunes amidst economic changes.

Kazeem1
Member
1 month ago

It appears that Forbes’ ranking of African billionaires has changed. With $10 billion, Johann Rupert of South Africa has surpassed Nigeria’s Aliko Dangote, who had previously held the top slot with $9.7 billion.

Adeoye Adegoke
Member
1 month ago

It’s really fascinating to see how the rankings of African billionaires can change over time. Johann Rupert from South Africa taking the top spot with $10 billion is quite impressive. He has made significant contributions to the business world, particularly in the luxury goods industry. On the other hand, Aliko Dangote from Nigeria has been a prominent figure in the African business landscape for many years, with his successful ventures in various industries, including cement, sugar, and flour. It’s important to note that these rankings can fluctuate due to various factors such as market conditions, investments, and economic trends. Nonetheless, it’s inspiring to see individuals from different countries making their mark and contributing to the growth and development of Africa’s economy.

Taiwo
Member
1 month ago

The top 10 African billionaires are revealed by Forbes. – Aliko Dangote of Nigeria ($9.7 billion) has been replaced by Johann Rupert of South Africa ($10 billion).The billionaires list has been updated to reflect their successful business ventures.It’s vital to remember that these rankings are subject to change based on a number of variables

Last edited 1 month ago by Taiwo