News

S’African Rupert dethrones Dangote as Africa’s richest man

S’African Rupert dethrones Dangote as Africa’s richest man

Nigerian billionaire, Aliko Dangote, has lost the title of Africa’s richest man to Johann Rupert, a prominent South African entrepreneur.

The last time the South African billionaire was in this position was at the beginning of the year, when he had a net worth of $10.3 billion to Dangote’s $9.5 billion.

According to Bloomberg’s Billionaire Index, Rupert has once again overtaken Dangote, achieving a net worth of $13.6 billion.

This positions him slightly above Dangote, who also holds a net worth of $13.6 billion but ranks two spots lower.

Rupert and his family are now the 154th wealthiest globally, while Dangote is listed at 156th.

The difference in their positions can be attributed to their differing financial trajectories over the past year.

READ ALSO:

Rupert’s latest valuation increased by $134 million, with a year-to-date (YTD) growth of $1.21 billion.

Conversely, Dangote’s recent valuation rose by $27 million, but his YTD change saw a significant drop of $1.53 billion.

This substantial difference in their financial performances has likely contributed to Rupert’s higher ranking, despite both having the same net worth.

Recently, Dangote experienced a notable decrease in his fortune, losing over $1 billion in the past year.

This decline came despite the opening of his new oil refinery, which was expected to boost his earnings significantly. However, operational challenges have plagued the refinery, leading Dangote to consider ceding control of the facility to Nigeria’s state-owned energy corporation, NNPCL.

S’African Rupert dethrones Dangote as Africa’s richest man

Trends Admin

Recent Posts

12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US schools

12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US…

12 hours ago

Gunmen kill two soldiers in Abia checkpoint attack

Gunmen kill two soldiers in Abia checkpoint attack Early Wednesday morning, gunmen attacked an army checkpoint…

12 hours ago

94 arrested as task force raids Lagos rail corridor squatters

94 arrested as task force raids Lagos rail corridor squatters At least 94 illegal occupants and…

12 hours ago

Two dead, buildings destroyed in American factory explosion

Two dead, buildings destroyed in American factory explosion Two employees of Givaudan sense colour, a factory…

12 hours ago

Alleged fraud: South Africa FA President, Danny Jordaan, arrested

Alleged fraud: South Africa FA President, Danny Jordaan, arrested South African Football Association (SAFA) President Danny…

12 hours ago

Okpebholo sacks all political appointees, Board executives in Edo

Okpebholo sacks all political appointees, Board executives in Edo Governor Monday Okpebholo of Edo State has swept…

12 hours ago