Johan Rupert, the South African billionaire and chairman of Richemont, the luxury goods conglomerate, has reclaimed his title as Africa’s richest man.
Johan Rupert, the South African billionaire and chairman of Richemont, the luxury goods conglomerate, has reclaimed his title as Africa’s richest man.
This comes after Aliko Dangote, the Nigerian industrialist and owner of the Dangote Group, saw his net worth decline by over $1 billion.
According to the latest data from the Bloomberg Billionaires Index, Rupert’s net worth now stands at $14.3 billion, surpassing Dangote’s $13.4 billion. Year-to-date, Rupert has gained $1.87 billion, while Dangote has lost approximately $1.69 billion.
Dangote’s losses are largely attributable to Nigeria’s challenging macroeconomic environment, where his conglomerate primarily operates.
The Dangote Group, which has faced setbacks at its refinery due to production delays and other industrial issues, has been further impacted by the Nigerian naira’s steep depreciation.
