Johann Rupert Overtakes Dangote As Africa’s Richest Person

South African business magnate Johann Rupert has maintained his position as Africa’s richest individual for the year 2024, surpassing Nigerian billionaire Aliko Dangote, according to Forbes Real-Time Billionaires.

Forbes reported that Dangote, founder of the Dangote Group conglomerate, slipped to the second position as his net worth dropped from $13.5 billion in 2023 to $9.7 billion as of January 4, 2024 — marking a significant loss of $3.8 billion.

Rupert, chairman of the Swiss luxury goods firm Compagnie Financiere Richemont, saw a decrease in his net worth from $10.7 billion in 2023 to $10 billion during the same period.

Johann Rupert is renowned for his leadership at Compagnie Financiere Richemont, which owns luxury brands such as Cartier and Montblanc. He holds a 7% stake in diversified investment firm Remgro, which he also chairs, and a 26% stake in Reinet, an investment holding company based in Luxembourg.

Rupert has been an outspoken critic of plans to permit fracking in the Karoo, a South African region where he owns land.

In addition to the shift in the top positions, Abdul Samad Rabiu, the chairman of BUA Group, and Mike Adenuga, the chairperson of Globacom, experienced changes in their billionaire rankings.

Adenuga’s wealth dropped from $6.3 billion in 2023 to $3.1 billion on January 4, moving him from the 6th to the 10th position.

Meanwhile, Rabiu’s wealth increased from $7.6 billion to $5.7 billion, leading to a shift from the 4th to the 6th position.

Here is the updated list of the top ten Forbes billionaires in Africa: