Johann Rupert, a tycoon from South Africa, outstripped Aliko Dangote, a magnate from Nigeria, to claim the title of the wealthiest individual in Africa.
According to Bloomberg, Rupert’s fortune swelled to $13.65 billion, positioning him as the 154th richest individual globally.
On Friday, August 2, 2024, Dangote’s net worth was recorded at $13.6 billion. This figure represents $50 million more than his current valuation.
As per the latest Bloomberg rankings, Dangote is identified as the 156th wealthiest person worldwide.
Sources of Wealth for Dangote and Rupert
Since the onset of 2024, the financial standings of Dangote and Rupert have altered in distinct manners.
From January through August, Rupert’s wealth increased by $1.21 billion. Conversely, Dangote’s fortune significantly declined due to the substantial depreciation of the naira.
Billionaire.Africa has reported that Dangote has forfeited over $10 billion in the previous six months.
The majority of Dangote’s wealth is derived from his 86% stake in Dangote Cement, which is publicly traded. As such, his riches are heavily reliant on the performance of the Nigerian economy and currency.
In contrast, Rupert’s wealth is primarily generated from Cie Financière Richemont, the largest luxury watch manufacturer globally, which is a publicly traded enterprise producing and retailing luxury items.
Here are the leading 10 wealthiest individuals worldwide:
Elon Musk: $241bn
Jeff Bezos: $207bn
Bernard Arnault: $182bn
Mark Zuckerberg: $177bn
Bill Gates: $157bn
Larry Page: $153bn
Larry Ellison: $152bn
Steve Ballmer: $145bn
Sergey Brin: $144bn
Warren Buffett: $136bn
