Nigerian Dangote Bows Out As South African Billionaire Rupert Emerges Africa’s Richest Man

Nigerian Aliko Dangote has been displaced by South African business tycoon Johann Rupert to emerge as the Richest Man in Africa.

BrandNewsDay understands that Dangote has relieved the African richest man position to a South African billionaire, according to a list released by Forbes Magazine.

On the same note, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings released by the financial magazine. Abdulsamad has moved to the fifth position against the 2023 Forbe List.

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, publicised that Dangote moved down to second position as his wealth declined from $13.5 billion in 2023 to $9.5b at the beginning of 2024.

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 change 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 not unconnected to the economic challenges across the continent.

According to reports, the devaluation of the Naira and other economic issues were characterized by the decline attributed to Dangote’s wealth.

Below are Africa richest man list:

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