Johann Rupert, a prominent South African businessman, has dethroned Aliko Dangote, President of the Dangote Group, to claim the title of Africa’s wealthiest man.
For years, Dangote held the top spot, but a recent decline in his net worth by $1.7 billion year-to-date has seen him slip down the rankings.
In contrast, Rupert’s wealth has surged by $1.87 billion year-to-date, according to the latest figures from the Bloomberg Billionaires Index, a daily tracker of the world’s richest individuals.
The 74-year-old Rupert controls Cie Financiere Richemont, the world’s largest luxury watchmaker, through a family trust. The Bellevue, Switzerland-based company is known for prestigious brands like Jaeger-LeCoultre and Cartier. Rupert also holds significant investments through Remgro, a South African investment firm based in Stellenbosch, with stakes in over 30 companies.
Aliko Dangote, on the other hand, derives the bulk of his fortune from his 86% stake in Dangote Cement, a publicly traded company. His holdings are managed directly and through his conglomerate, Dangote Industries. Beyond cement, Dangote’s business interests span food manufacturing, sugar production, and banking, with stakes in Dangote Sugar, Nascon Allied Industries, and United Bank for Africa. He also owns the Dangote Refinery, a massive 650,000-barrel-per-day facility in Lagos, Nigeria.
Joining Rupert and Dangote among Africa’s wealthiest are Nicky Oppenheimer from South Africa, with a net worth of $11.3 billion, Nassef Sawiris from Egypt at $9.37 billion, and Natie Kirsh, also from South Africa, with $9.14 billion.
Globally, the top 10 richest people, according to the Bloomberg Billionaires Index, are:
1. Elon Musk (United States) — $236 billion
2. Bernard Arnault (France) — $198 billion
3. Jeff Bezos (United States) — $197 billion
4. Mark Zuckerberg (United States) — $185 billion
5. Bill Gates (United States) — $160 billion
6. Larry Ellison (United States) — $153 billion
7. Larry Page (United States) — $149 billion
8. Warren Buffett (United States) — $145 billion
9. Steve Ballmer (United States) — $144 billion
10. Sergey Brin (United States) — $140 billion
