Cape Town – Johann Rupert has surpassed Aliko Dangote to become Africa’s richest person, according to the latest Bloomberg Billionaire Index.
Rupert’s net worth now stands at $14.3 billion, up $1.87 billion year-to-date, while Dangote’s wealth decreased by over $1 billion to $13.4 billion due to economic challenges in Nigeria, including currency devaluation and policy reforms under President Bola Tinubu.
Rupert derives his wealth primarily from Richemont, based in Switzerland, a luxury goods manufacturer known for brands like Cartier.
Despite setbacks in Dangote’s business empire, including delays in refinery operations, Forbes has listed him as Africa’s richest for the 13th consecutive year, excluding his $19 billion oil refinery still under development.
South African billionaire Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as Africa’s richest person, according to Bloomberg’s Billionaires Index. Rupert, who controls luxury goods firm Richemont, saw his net worth rise by $1.9 billion to $14.3 billion, ranking… pic.twitter.com/2F3fzCYtu8
— East Africa Media Group (@EAMGtv) August 28, 2024
Dangote’s wealth is mainly tied to his 86% stake in Dangote Cement, along with investments in Dangote Sugar, Nascon Allied Industries, United Bank for Africa, and interests in food manufacturing, fertilizer production, oil, and the Dangote Refinery in Lagos.
Rupert, now Africa’s richest person, has been South Africa’s top individual taxpayer for the past 20 years and is known for extensive philanthropic efforts, according to Times Live.
He and his family support educational and environmental initiatives through organisations like the Nelson Mandela Children’s Fund and the Rupert Education Foundation, which focuses on empowering South African youth, the report said.
South African billionaire Johann Rupert has overtaken Nigerian billionaire Aliko Dangote as Africa’s richest person.
Rupert’s net worth has surged by $1.9B to $14.3B, while Dangote’s fortune has fallen by $1.7B this year, putting his net worth at $13.4B.
Source: Bloomberg pic.twitter.com/Pc5q3ewMZn
— Diano Olwenyi Peters (@DianoPeters) August 29, 2024
Rupert donates all wages from his roles as chair or board member to charity.
In Africa’s wealth rankings, South African billionaire Nicky Oppenheimer is third with R200.5 billion, followed by Egyptian businessman Nassef Sawiris with R166.2 billion and South African investor Natie Kirsh with R162.2 billion.
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Picture: X/@DianoPeters
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Compiled by Betha Madhomu
