According to a Forbes Magazine report, business tycoon Johann Rupert of South Africa has overtaken Nigerian Aliko Dangote to become the richest person in Africa.
In a similar vein, Nigerian billionaires Mike Adenuga and Rabiu Abdulsamad have fallen in the Financial Magazine's billionaire rankings.
Aliko Dangote dropped to second place on the Forbes Daily Billionaires ranking list, which tracks daily changes in the wealth of the world's most affluent people. Dangote's wealth dropped from $13.5 billion in 2023 to $9.5 billion at the start of 2024.
A review of the Forbes list revealed notable drops in the billionaires' wealth.
Mike Adenuga of Nigeria rose to the tenth spot due to his fortune, whereas Patrice Motsepe, who was among the top ten in 2023, was not among the top ten richest men in 2024.
The absence of any female in the top ten richest list at the beginning of the year is a notable shift in Forbes' list of the wealthiest individuals in Africa.
The economic difficulties facing the continent are not unrelated to the decrease in these people's wealth.
The decline in Dangote's fortune can be linked to the depreciation of the Naira as well as other economic problems.
These men are the richest in Africa:
Name Rank Net Worth
1. The Rupert family of Johann $10.3 trillion
2.9 billion dollars to Aliko Dangote
3. The Oppenheimer Family of Nicky $8.3 trillion
4. $7.4 billion to Nassef Sawiris
5. $5.9 billion to Abdulsamad Rabiu
Nathan Kirsh, $5.8 billion, sixth
7. The Rebrab Family of Issad $4.6 billion
8. Mansour Mohamed $3.6 billion
9. $3.3 billion for Naguib Sawiris
10. Adenuga Mike $3.1 billion
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