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| Johann Rupert and Aliko Dangote |
In a significant shift in the wealth landscape of Africa, South African billionaire Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as the continent's richest person.
According to the latest data from the Bloomberg Billionaires Index, Rupert's net worth has risen to $14.3 billion, surpassing Dangote's $13.4 billion.
Nicky Oppenheimer, another South African billionaire, occupied the third place with $11.3 billion net worth, Nassef Sawiris, an Egyptian businessman, followed with $9.37 billion, and Natie Kirsh, a South African investor, completed the top five with $9.14 billion.
Rupert, who serves as the chairman of Richemont, a luxury goods conglomerate, has seen his wealth increase by $1.87 billion year-to-date. In contrast, Dangote's fortune has declined by $1.69 billion during the same period.
The decline in Dangote's net worth is attributed to several challenges faced by his business empire, including production delays at his refinery, supply chain disruptions, and the significant devaluation of the Nigerian naira.
These factors have collectively eroded his wealth, particularly since his assets are largely denominated in naira.
Despite these setbacks, the Dangote Group remains ambitious, aiming to generate approximately $30 billion in revenue by 2025, with a focus on expanding its influence in the foreign exchange market.
Rupert's ascension to the top spot in Africa's wealth rankings highlights the dynamic nature of global wealth, where economic conditions and business performance can significantly impact individual fortunes.
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