By Damilare Adeleye
South African business mogul, Johann Rupert, has dethroned Nigerian Aliko Dangote as the richest man in African continent.
This is according to a recent list released by Forbes Magazine, a global financial magazine.
Similarly, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings.
In the list, the Forbes Daily billionaires ranking platform, which tracks daily changes to the net worth of the most high-net-worth individuals across the world, revealed that Aliko Dangote moved down to second position as his wealth decreased from $13.5 billion in 2023 to $9.5b at the beginning of 2024.
An analysis of the Forbes list showed significant wealth declines in the billionaires.
The wealth of Nigeria’s Mike Adenuga moved him to the tenth position, while Patrice Motsepe, who was in the top ten in 2023, didn’t make the top ten richest men in 2024.
One striking development in the Forbes wealthiest people in Africa list is that no woman made the top ten richest list at the start of the year.
The decline in the wealth of these individuals is attributed to the economic challenges across the continent.
The devaluation of the Naira and other economic issues can be connected to the decrease of Dangote’s wealth.
Below is the rank name of Africa’s richest men and their Net worth
- Johann Rupert & Family $10.3 billion
- Aliko Dangote $9.5 billion
- Nicky Oppenheimer & Family $8.3 billion
- Nassef Sawiris $7.4 billion
- Abdulsamad Rabiu $5.9 billion
- Nathan Kirsh $5.8 billion
- Issad Rebrab & Family $4.6 billion
- Mohamed Mansour $3.6 billion
- Naguib Sawiris $3.3 billion
- Mike Adenuga $3.1 billion.