A shift has occurred in Africa’s wealth hierarchy, with Johann Rupert, a South African billionaire, surpassing Aliko Dangote as the continent’s richest individual.
According to the Bloomberg Billionaires Index, Dangote’s wealth has decreased by $1.7 billion this year, while Rupert’s has increased by $1.87 billion.
Rupert, 74, has accumulated his wealth through his control of Cie Financiere Richemont, the world’s largest luxury watchmaker, which owns prestigious brands like Jaeger-LeCoultre and Cartier.
This Swiss-based company is held through a family trust, solidifying Rupert’s position as Africa’s wealthiest person.
Johann Rupert’s business empire extends beyond Richemont, with significant holdings in Remgro, a Stellenbosch-based investment firm with a diverse portfolio of over 30 companies.
In contrast, Aliko Dangote’s wealth is primarily attributed to his 86% stake in Dangote Cement, a publicly traded company.
His other notable assets include shares in Dangote Sugar, Nascon Allied Industries, and United Bank for Africa, spanning various industries such as food manufacturing, fertilizers, oil, and more.
Additionally, he owns the Dangote Refinery, a 650,000-barrel-per-day facility in Lagos State.
The Bloomberg Billionaires Index ranks the top African billionaires as follows:
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Johann Rupert (South Africa) – $12.2bn
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Aliko Dangote (Nigeria) – $11.5bn
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Nicky Oppenheimer (South Africa) – $11.3bn
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Nassef Sawiris (Egypt) – $9.37bn
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Natie Kirsh (South Africa) – $9.14bn
The global top 10 richest individuals are:
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Elon Musk (US) – $236bn
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Bernard Arnault (France) – $198bn
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Jeff Bezos (US) – $197bn
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Mark Zuckerberg (US) – $185bn
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Bill Gates (US) – $160bn
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Larry Ellison (US) – $153bn
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Larry Page (US) – $149bn
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Warren Buffett (US) – $145bn
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Steve Ballmer (US) – $144bn
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Sergey Brin (US) – $140bn
