Johann Rupert, a South African billionaire, has displaced Aliko Dangote, the President of the Dangote Group, as the richest person in Africa. According to the Bloomberg Billionaires Index, Rupert’s wealth increased by $1.87 billion year-to-date, while Dangote’s wealth dropped by $1.7 billion.
Rupert, aged 74, controls the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust. His other holdings include Remgro, a Stellenbosch-based investment vehicle with stakes in over 30 companies.
Dangote, on the other hand, derives most of his fortune from his 86% stake in publicly traded Dangote Cement. He also has stakes in Dangote Sugar, Nascon Allied Industries, and United Bank for Africa, and owns the Dangote Refinery, a 650,000 barrels per day integrated refinery in Lagos State.
Other African billionaires in the top five include Nicky Oppenheimer (South Africa) with $11.3 billion net worth, Nassef Sawiris (Egypt) with $9.37 billion, and Natie Kirsh (South Africa) with $9.14 billion.
The Bloomberg Billionaires Index also lists the top 10 richest men in the world, with Elon Musk (United States) topping the list with $236 billion, followed by Bernard Arnault (France) with $198 billion, and Jeff Bezos (United States) with $197 billion.