South African businessman, Johan Rupert is now the richest man in Africa.
This is according to Bloomberg’s recent publication which reveals that Rupert’s wealth increased by $1.87bn year-to-date, displacing Nigerian businessman, Aliko Dangote who has held the position as richest man in Africa for several years.
According to Bloombergs billionaires index, a daily ranking of the world’s richest people, Dangote recorded a significant decline in wealth by $1.7 billion year-to-date, falling down to position of the second richest man in Africa as of Wednesday, August 28, 2024.
Dangote, who is the owner of Dangote Refinery — a 650,000 barrels per day integrated refinery based in Lagos State, Nigeria is also the majority shareholder at Dangote Cement producing company with 86% stake.
He is known for holding major stakes in Dangote Sugar, Nascon Allied Industries and United Bank for Africa as his public trade-assets while his investments range from food manufacturing to fertiliser, oil and other industries.
On his part, the newly emerged richest African, Johan Rupert, 74 from South Africa, controls the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust. The Bellevue, Switzerland-based company’s brands include Jaeger-LeCoultre and Cartier.
According to reports, his other holdings include Remgro, a Stellenbosch, South Africa-based investment vehicle with stakes in more than 30 companies.
Meanwhile, other African billionaires in the top five include Nicky Oppenheimer (South Africa) in the third place with $11.3bn net worth; Nassef Sawiris (Egypt) with $9.37bn and Natie Kirsh (South Africa) with $9.14bn.
