South African billionaire and chairman of Richemont, Johan Rupert, has been declared Africa’s richest man, surpassing Aliko Dangote, according to the Bloomberg Billionaires Index.
Rupert’s recent financial ascent comes as Dangote’s wealth has diminished by over $1 billion this year.
According to the latest data from the Bloomberg Billionaires Index, Rupert’s net worth currently stands at $14.3 billion, surpassing Dangote’s $13.4 billion.
The report shows that Rupert year-to-date gained $1.87 billion, while Dangote lost approximately $1.69 billion.
According to the report, Dangote’s business empire, the Dangote Group, faced numerous setbacks in recent months due to production delays at its refinery, supply chain disruptions, and the devaluation of the local currency.
These factors have collectively eroded his net worth.
Two weeks ago, Bloomberg ranked Dangote as the 145th richest person globally, but he has since dropped to the 160th position.
