Our Correspondent | Africa Guardian
South African luxury goods tycoon Johann Rupert has claimed the title of Africa’s richest man, surpassing Nigeria’s Aliko Dangote. The 74-year-old Rupert, who controls the world’s largest luxury watchmaker, Cie Financiere Richemont, through a family trust, now leads the continent’s billionaires. Richemont, based in Bellevue, Switzerland, owns prestigious brands such as Jaeger-LeCoultre and Cartier.
According to the latest Bloomberg Billionaires Index, Rupert’s net worth has risen to $14.3 billion, overtaking Dangote, whose wealth has declined to $13.4 billion. Dangote, the owner of the Dangote Group, has seen a significant loss of approximately $1.69 billion this year, largely due to Nigeria’s challenging economic conditions.
Dangote’s wealth primarily stems from his 86% stake in Dangote Cement, which is publicly traded. His fortune also includes investments in Dangote Sugar, Nascon Allied Industries, United Bank for Africa, and a diverse portfolio in food manufacturing, fertilizer, oil, and the 650,000-barrel-per-day Dangote Refinery in Lagos State.
Other notable billionaires in Africa include South African Nicky Oppenheimer, who ranks third with a net worth of $11.3 billion, Egyptian businessman Nassef Sawiris with $9.37 billion, and South African investor Natie Kirsh, who completes the top five with $9.14 billion.
___