Johann Rupert Overtakes Dangote as Africa’s Richest Man
For the first time in long years, 73-year-old South African businessman Johann Rupert has displaced Nigeria’s foremost billionaire, Aliko Dangote, as the richest man on the continent.
Johann Rupert, whose net worth is estimated at $12 billion, was named by Forbes Magazine in its Real-time global Billionaires ranking, while Dangote trails behind with a net worth of $10.8 billion.
Rupert’s wealth primarily emanates from his ownership in Cie Financiere Richemont, a prominent luxury goods manufacturer and retailer, along with strategic investments in Remgro and Reinet.
Dangote’s net worth reportedly took a massive dip due to the naira depreciation caused by the Central Bank of Nigeria’s decision to auction the dollar at a relatively lower rate than the official market price.