Nigerian billionaire, Aliko Dangote, cedes his title as Africa’s richest man to South African business magnate Johann Rupert, according to Forbes Magazine's latest release on the Daily billionaires ranking platform.
Forbes reported that Dangote slipped to the second position, with his wealth decreasing from $13.5 billion in 2023 to $9.5 billion at the beginning of 2024.
Similarly, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga witnessed declines in their rankings on Forbes' billionaire list.
Mike Adenuga from Nigeria dropped to the tenth position, while Patrice Motsepe, previously in the top ten in 2023, did not make the cut in the list of the top ten richest men in 2024.
A notable change in Forbes' ranking of Africa’s wealthiest is the absence of any women in the top ten at the beginning of the year.
The reduction in Dangote’s wealth is attributed to the decline in the value of the Naira and other economic challenges.
In the 2024 rankings, Johann Rupert & Family’s wealth decreased from $10.7 billion to $10.3 billion, securing his position as Africa’s richest man amid the decline in the wealth of Aliko Dangote from $13.5 billion to $9.5 billion.
List of Africa’s richest men (Rank, Name, and 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