According to reports from both Forbes and Bloomberg, Nigerian billionaire Aliko Dangote has once again claimed the title of Africa's richest person, surpassing South Africa's Johann Rupert in the rankings.
This development comes after Johann Rupert briefly held the top position last week, replacing Dangote.
As of January 8, 2024, Dangote's net worth rose by $10 billion, reaching $10.1 billion, according to Forbes' Daily billionaires ranking website. This surge allowed him to overtake the South African luxury goods entrepreneur Johann Rupert, whose net worth currently stands at $10 billion, down from $10.7 billion on January 30, 2023.
On the Forbes list, Dangote holds the 191st position globally, while Rupert is ranked 197th. Additionally, Bloomberg's Billionaire Index affirms Dangote's status as the richest person in Africa.
Dangote's wealth is primarily derived from his 86 percent ownership in publicly traded Dangote Cement, a key contributor to his substantial fortune. Bloomberg notes that through his conglomerate, Dangote Industries, he holds direct and indirect stakes in the corporation.
Bloomberg further details, "Dangote’s other publicly traded assets include stakes in Dangote Sugar, NASCON Allied Industries, and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Industries, which also owns closely held businesses operating in food manufacturing, fertilizer, oil, and other industries. His most valuable closely held asset is a fertilizer plant with a capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG, confirmed by outside analysts."