Dangote's Status as Africa's Richest Man Under threat as South African Billionaire Johann Rupert Closes in

Dangote's Status as Africa's Richest Man Under threat as South African Billionaire Johann Rupert Closes in

  • For the first time in many years, the position as Africa richest billionaire, Aliko Dangote is really coming under threat
  • Johann Rupert the second richest man in Africa in the last 30 days wealth has expanded significantly
  • Experts are expecting that by the end of 2022 a new number one richest man in Africa will emerge

Aliko Dangote, Chairman of Dangote's industries, may lose his title as Africa's richest person by the end of 2022 when Forbes releases its list.

This is because, South African billionaire, Johann Rupert closes in on his wealth level and is expanding so fast, Ripples Nigeria reports.

On Wednesday, 18 February 2022, the South African after trading hours on the floor of the South African Stock Exchange walked home with N58.20 billion ($140 million).

Dangote's position as Africa's richest man under threat as South African billionaire Johann Rupert closes in
Dangote and South African billionaire Johann Rupert Credit: David Cannon/Getty Images
Source: Facebook

As his wealth grew, Dangote on the same day lost N8.73 billion ($21 million), wiping off 0.15% of his wealth during the same period.

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Who is Johann Rupert

Rupert is the CEO of the Compagnie Financiere Richemont, which owns the Cartier and Montblanc brands.

Rupert was fourth on Africa's richest list in 2012, with $5.1 billion to his credit, while Dangote was first, with a net worth estimated at $11.2 billion in the same year.

Wealth change in the last decade

When compared to the South African industrialist, Rupert's fortune has expanded 105.8 percent in the previous ten years, while Dangote's net worth has grown at a slower rate of $25.8 percent, according to Ripples Nigeria calculations.

Rupert's gain in a decade has moved him into second place after Dangote, after adding $5.4 billion to his fortune, which is currently valued at $10.5 billion according to the Forbes Billionaire Index.

Dangote, on the other hand, only added $2.9 billion to his fortune during the same time period, despite the fact that the soon-to-be refinery owner is already worth $14.1 billion owing to his cement and sugar companies.

Dangote, Rabiu companies dominate the list of most valuable manufacturing companies in Nigeria

Legit.ng has reported that Dangote cement and BUA cement, owned by Nigeria's richest individuals Aliko Dangote and Abdulsamad Rabiu, have been recognized as the country's two most valuable listed manufacturing companies.

BUA foods another company owned by Abdulsamad sat in the third position while Nestle Nigeria completed the list of top four valuable manufacturing companies.

The ranking of the banks is according to data from the Nigerian Exchange Group (NGX) and analysed by Nairametrics.

Source: Legit.ng

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