LONDON, England
South African luxury goods magnate Johann Rupert has become Africa’s wealthiest person, overtaking Nigeria’s Aliko Dangote, who previously held the top position.
Rupert, 74, controls the
world’s largest luxury watchmaker, Cie Financiere Richemont, through a family
trust. This Switzerland-based company owns prestigious brands like
Jaeger-LeCoultre and Cartier.
According to the latest
figures from the Bloomberg Billionaires Index, Rupert’s net worth has climbed
to $14.3 billion, pushing him ahead of Dangote, whose fortune has dropped to
$13.4 billion.
Dangote, who heads the Dangote
Group, has seen his wealth shrink by about $1.69 billion this year. The decline
is largely attributed to the difficult economic conditions in Nigeria, which
have significantly affected his business empire.
Dangote’s wealth is largely
tied to his 86% stake in Dangote Cement, which is publicly traded. His
investments also include stakes in Dangote Sugar, Nascon Allied Industries,
United Bank for Africa, as well as interests in food manufacturing, fertilizer production,
oil, and the Dangote Refinery in Lagos.
In the rankings, South African
billionaire Nicky Oppenheimer comes in third with a net worth of $11.3 billion.
He is followed by Egyptian businessman Nassef Sawiris with $9.37 billion, while
South African investor Natie Kirsh is fifth with $9.14 billion.
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