Richest man in Africa: South African Johann Rupert dethrones Aliko Dangote

South African luxury mogul Johann Rupert has snatched the crown of Africa’s richest man, dethroning Nigerian Aliko Dangote, who held the title for 12 consecutive years.

Aliko Dangote is no longer the richest man in Africa. The Nigerian billionaire was stripped of his title in favor of South African luxury tycoon, Johann Rupert. This was revealed by Forbes magazine in its annual list of the richest individuals in Africa.

The Forbes list, which tracks the wealth of African billionaires who reside or have their primary business in Africa, shows that billionaires have experienced a notable reduction in their wealth over the past year. Aliko Dangote lost $4 billion in the past year, with his net worth falling from $13.5 billion to $9.5.

A big loss for the CEO of the Dangote group who loses his throne which he has jealously guarded for 12 years. A crown captured by South African Johann Rupert despite also losing in the last 12 months. The luxury mogul saw his fortune decline from $10.7 billion to $10.3 billion.

Below the leading duo, we find the South African businessman Nicky Oppenheimer with his 8.3 billion dollars) and the Egyptian Nassef Sawiris ($7.4 billion). With a net worth dropping from $7.6 billion to $5.9 billion, Nigerian billionaire Mike Adenugu falls to 5th place in the African table.

In the rest of the ranking, we note the presence of the South African businessman and philanthropist Nathan Kirsh ($5.8 billion), the Algerian businessman Issad Rebrab ($4.6 billion) , Egyptian businessman Mohamed Mansour ($3.6 billion) and Egyptian billionaire Naguib Sawiris ($3.3 billion), while Nigerian Abdulsamad Rabiu completes the top 10, while the billionaire saw his fortune plummeted from 6.3 to 3.1 billion dollars.