According to Forbes Magazine, South African business mogul Johann Rupert has surpassed Nigerian Aliko Dangote to become Africa’s richest man.
Similarly, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have dropped out of the financial magazine’s billionaire lists.
The Forbes Daily billionaires ranking platform, which tracks daily changes in the net worth of the world’s most wealthy individuals, revealed that Aliko Dangote dropped to second place as his wealth fell from $13.5 billion in 2023 to $9.5 billion at the start of 2024.
An examination of the Forbes list revealed considerable wealth reductions among the billionaires.
Nigeria’s Mike Adenuga’s wealth propelled him to tenth place, whereas Patrice Motsepe, who was in the top 10 in 2023, did not reach the top ten richest men in 2024.
One notable shift in the Forbes list of Africa’s wealthiest people is that no woman reached the top ten richest list at the start of the year.
The reduction in these individuals’ wealth is not unrelated to the continent’s economic woes.
The decline in Dangote’s fortune can be ascribed to the Naira’s depreciation and other economic concerns.
Here are Africa’s richest men:
Rank Name Net worth
1. Johann Rupert & Family $10.3 billion
2. Aliko Dangote $9.5 billion
3. Nicky Oppenheimer & Family $8.3 billion
4. Nassef Sawiris $7.4 billion
5. Abdulsamad Rabiu $5.9 billion
6. Nathan Kirsh $5.8 billion
7. Issad Rebrab & Family $4.6 billion
8. Mohamed Mansour $3.6 billion
9. Naguib Sawiris $3.3 billion
10. Mike Adenuga $3.1 billion