South Africa’s Johann Rupert has overtaken Aliko Dangote, the President of the Dangote Group, to become the richest person in Africa, according to the latest Bloomberg Billionaires Index.
Rupert’s wealth surged by $1.87 billion year-to-date, while Dangote’s fortune decreased by $1.7 billion during the same period.
Johann Rupert, 74, controls the world’s largest luxury watchmaker, Cie Financiere Richemont, which is based in Bellevue, Switzerland.
The company owns prestigious brands such as Jaeger-LeCoultre and Cartier.
Rupert’s wealth is also tied to his investment vehicle, Remgro, which holds stakes in over 30 companies across various industries in South Africa.
Aliko Dangote, who had held the title of Africa’s richest man for several years, primarily derives his wealth from his 86% stake in Dangote Cement, which is publicly traded.
He also has investments in other sectors, including sugar, salt, and banking, through Dangote Industries.
Additionally, Dangote owns the Dangote Refinery in Lagos, a massive 650,000 barrels-per-day facility.
The top five African billionaires now include Rupert, Nicky Oppenheimer (South Africa) with a net worth of $11.3 billion, Nassef Sawiris (Egypt) with $9.37 billion, and Natie Kirsh (South Africa) with $9.14 billion.
ALSO READ THESE TOP STORIES FROM NIGERIAN TRIBUNE
and then