Africa’s richest: S’African businessman Rupert displaces Dangote

Africa’s richest: S’African businessman Rupert displaces Dangote

South African businessman, Johann Rupert, has overtaken Nigerian billionaire and founder of the Dangote Group, Aliko Dangote, as Africa’s richest man.

Dangote’s displacement is said to be as a result of the depreciation of the Naira.

Rupert is the chairman of Swiss-based luxury goods company, Richemont, and South Africa-based company, Remgro

Forbes Magazine in its Real-time global Billionaires Ranking, puts Rupert as currently boasts a $12 billion net worth while Dangote’s net worth is $10.8 billion.

Rupert, who initially followed Dangote closely, took over the number one spot following the Central Bank of Nigeria’s decision to free its grip on the official exchange market, which saw the Nigerian billionaire’s worth drop by $4.12 billion, according to Bloomberg Billionaire Index (BBI).