Johann Rupert Overtakes Dangote as Africa’s Richest Man

According to the Forbes Real-time Global Billionaires Ranking, South African billionaire Johann Rupert has surpassed Aliko Dangote to become the richest man in Africa, with a net worth of $12 billion. As of Friday, Dangote’s net worth stood at $10.8 billion, trailing behind Rupert.

Forbes recently updated its billionaire list, revealing that Dangote, the Chairman of Dangote Group, a prominent African conglomerate, had lost his long-held position to Rupert as reported by Opera News. This significant change came after Dangote’s wealth plummeted by $3.4 billion in a single day following the Nigerian government’s decision to float the nation’s naira currency.

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The devaluation of the naira by the Central Bank of Nigeria led to a 40.5% drop in its value since the devaluation took place the previous Wednesday. The naira-to-dollar exchange rate closed Friday’s trading at N663.04/$1, compared to N471.67/$1 on Tuesday, due to the devaluation.

Rupert’s current net worth of $12 billion places him at the top of the African billionaire list, as reported by Forbes Magazine in its Real-time Global Billionaires Ranking. In comparison, Dangote’s net worth is estimated at $10.8 billion.

However, Dangote is expected to regain his position in the rankings with the anticipated commencement of the $20 billion Dangote Refinery, which was commissioned last month. The refinery project is poised to significantly impact Dangote’s wealth in the near future.

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Photo: Facebook / @Wow Africa