South African Billionaire Displaces Dangote, Becomes Africa’s Richest Man

Nigerian billionaire, Aliko Dangote has been dethroned as Africa’s richest man.

He was dethroned by South African business mogul, Johann Rupert, according to a list released by Forbes Magazine.

Similarly, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings released by the financial magazine

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 revealed that Aliko Dangote moved down to second position as his wealth decreased from $13.5b in 2023 to $9.5b in the start 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 devaluation of the Naira and other economic issues can be attributed to the decrease of Dangote’s wealth.

In the 2024 rankings, Johann Rupert & Family’s wealth went from $10.7b down to $10.3b to emerge Africa’s richest man with the decrease of the wealth of long-time African richest Aliko Dangote which went from $13.5b to $9.5b.

Here is a 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