...Redifining Journalism for Development

South African dethrones Dangote as Africa’s richest man


South African dethrones Dangote as Africa’s richest man

Forbes has announced a shift in the rankings for Africa’s richest individuals, with Aliko Dangote, the industrialist and chairman of Dangote Group, being displaced from the top position.

According to the latest Forbes list, South African billionaire Johann Rupert has taken the lead as the wealthiest person in Africa.

The Nigerian billionaires Abdulsamad Rabiu and Mike Adenuga also experienced a decline in their rankings within the billionaire list.

READ ALSO: South African billionaire replaces Dangote as Africa’s richest man

Dangote’s wealth dropped from $13.5 billion in 2023 to $9.5 billion at the start of 2024, resulting in his move to the second position.

The Forbes Daily billionaires ranking platform highlighted notable decreases in the net worth of the billionaires, with Adenuga slipping to the 10th position.

It is worth noting that Patrice Motsepe, who was among the top 10 richest individuals in 2023, did not make it to the top 10 in 2024. Interestingly, no women were included in the top 10 richest list at the beginning of the year.

The reduced wealth of these prominent individuals is indicative of the economic challenges faced by African countries, with factors such as the devaluation of the naira and other economic issues being attributed to the decline in Dangote’s wealth.

In the 2024 rankings, Rupert and his family’s net worth decreased from $10.7 billion to $10.3 billion, securing his position as Africa’s richest person.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.