Johann Rupert Overtakes Dangote as Africa’s Richest Man

Johann Rupert from South Africa has overtaken Aliko Dangote of Nigeria as the richest person in Africa. According to the latest Bloomberg Billionaires Index, Dangote’s wealth fell by $1.7 billion this year, while Rupert’s wealth increased by $1.87 billion.

Rupert, who is 74 years old, runs the world’s biggest luxury watch company, Cie Financiere Richemont, through a family trust. This company is based in Switzerland and makes famous brands like Jaeger-LeCoultre and Cartier.

Rupert also has a big investment company in South Africa called Remgro, which has stakes in over 30 companies.

On the other hand, most of Dangote’s money comes from his 86% share in Dangote Cement, which is publicly traded. He owns these shares directly and through his company, Dangote Industries.

Dangote also has shares in other public companies like Dangote Sugar and Nascon Allied Industries and in the United Bank for Africa. His business activities cover a wide range of industries including food, fertilizer, and oil. He also owns the Dangote Refinery, a large oil refinery in Lagos that processes 650,000 barrels per day.

Other rich Africans include Nicky Oppenheimer from South Africa with $11.3 billion, Nassef Sawiris from Egypt with $9.37 billion, and Natie Kirsh, also from South Africa, with $9.14 billion.

The Bloomberg Billionaires Index also shows the richest people in the world, including well-known names like Elon Musk, Bernard Arnault, and Jeff Bezos.