Johann Rupert has emerged as the richest man in Africa, displacing Aliko Dangote as Africa’s wealthiest man in a recent list released by Forbes Magazine.
Nigerian billionaires; Rabiu Abdulsamad and Mike Adenuga also lost their spots in the billionaire rankings released by the top-notch financial magazine
The list, the Forbes Daily billionaires ranking platform, which tracks daily changes to the net worth of the biggest high-net-worth individuals globally revealed that Aliko Dangote moved down to second position as his net worth reduced from $13.5b in 2023 to $9.5b in the start of 2024.
The list also revealed significant declines in the wealth of the billionaires. Mike Adenuga’s wealth decline moved him to the tenth position, while Patrice Motsepe who made the top ten in 2023 didn’t make the top ten richest men in 2024. Furthermore, no woman made the top ten richest list at the start of 2024.
The reduction in the wealth of these individuals points to the economic challenges across African countries. The devaluation of the Naira and other macroeconomic issues can be attributed to the decrease of Dangote’s wealth.
In the 2024 rankings, Johann Rupert & Family’s wealth reduced from $10.7b down to $10.3b to emerge the richest man in Africa as the wealth of long-time Africa’s richest man, Aliko Dangote, went down from $13.5b to $9.5b.
