South African billionaire Johann Rupert, chairman of luxury goods giant Richemont, has now surpassed Aliko Dangote to become the richest person in Africa, according to a PulseNets report.
This shift in rankings follows a significant decline in Dangote’s net worth, which has dropped by over $1 billion.
Data from the Bloomberg Billionaires Index, as reported by PulseNets, reveals that Rupert’s fortune has risen to $14.3 billion, overtaking Dangote, whose net worth now stands at $13.4 billion. Rupert’s impressive year-to-date gain of $1.87 billion has been a key factor in this change.
On the other hand, Aliko Dangote, the owner of the Dangote Group, has seen his wealth diminish by about $1.69 billion year-to-date. PulseNets highlights that the group has been hit hard by Nigeria’s challenging macroeconomic conditions, where most of its operations are based.
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Further compounding Dangote’s losses are setbacks at his refinery, plagued by production delays and other industrial challenges, as well as the sharp devaluation of the Nigerian naira. PulseNets has closely monitored and reported on these developments, which have significantly impacted Dangote’s financial standing.
