South African Billionaire Now Richest Person in Africa After Dangote’s Wealth Drops by $2.80bn
Aliko Dangote, who was previously the richest man in Africa, has been displaced by South African billionaire Johann Rupert, according to the Forbes Billionaire Ranking.
Dangote’s net worth has dropped by 20.7% due to the devaluation of the Nigerian currency by the Central Bank of Nigeria (CBN). The devaluation caused the naira to dollar exchange rate to increase from N471.67/$1 to N663.04/$1.
As a result of the decline in the value of the naira, Dangote has fallen to the second position on Africa’s richest list, while Rupert has taken the top spot.
Dangote’s wealth has decreased by $2.80 billion to $10.7 billion, marking the first time since 2008 that he has lost the richest man position on the Forbes Billionaire Index.
On the other hand, Rupert’s net worth has increased from $10.7 billion to $13.5 billion, making him the new richest man in Africa.
However, according to the Bloomberg Billionaire Index, Dangote still holds the title of the richest man in Africa with a net worth of $16.8 billion, despite a year-to-date loss of $1.86 billion.
Rupert is ranked second on the Bloomberg list with a net worth of $13.6 billion and a year-to-date gain of $2.67 billion.
It’s important to note that Forbes and Bloomberg use different methodologies to determine the richest individuals, resulting in variations in net worth and rankings for Dangote and Rupert.
