South African billionaire Johann Rupert has overtaken Nigerian business magnate Aliko Dangote as Africa’s wealthiest individual. According to the latest data from the Bloomberg Billionaires Index, Rupert’s fortune grew by $1.87 billion this year, while Dangote’s wealth decreased by $1.7 billion over the same period.
The Bloomberg Billionaires Index provides a daily ranking of the world’s wealthiest people, and this shift marks a significant change in its African rankings. Johann Rupert, aged 74, is the chairman of Compagnie Financière Richemont, the world’s largest luxury watchmaker, which is headquartered in Bellevue, Switzerland.
Richemont owns high-end brands such as Cartier and Jaeger-LeCoultre. Rupert’s wealth also comes from his investments in Remgro, an investment company based in Stellenbosch, South Africa, with stakes in more than 30 companies across various sectors.
Aliko Dangote, who held the title of Africa’s richest person for several years, has a vast business empire. The bulk of Dangote’s wealth comes from his 86% stake in Dangote Cement, which he controls both directly and through his conglomerate, Dangote Industries.
Besides cement, Dangote’s investments span several sectors, including food manufacturing, fertiliser production, oil, and other industries. He also owns the Dangote Refinery in Lagos, which is capable of processing 650,000 barrels of oil per day.
Other African billionaires in the top five include Nicky Oppenheimer of South Africa with a net worth of $11.3 billion, Nassef Sawiris of Egypt with $9.37 billion, and Natie Kirsh of South Africa with $9.14 billion. The Bloomberg Billionaires Index also lists the ten wealthiest people globally, led by Elon Musk of the United States, who has a net worth of $236 billion.
