By Ebi Kesiena
South African billionaire Johann Rupert has surpassed Nigerian industrialist Aliko Dangote as Africa’s wealthiest person, according to the latest Bloomberg Billionaires Index.
Rupert controls Richemont, a leading luxury goods firm with brands like Cartier and Montblanc. His net worth has jumped by $1.9 billion to $14.3 billion, placing him at 147th globally, 12 spots ahead of Dangote.
In contrast, Dangote’s fortune has dropped by $1.7 billion this year to $13.4 billion, reflecting Nigeria’s challenging economic environment.
Dangote, who made his wealth in the cement and sugar industries, recently faced setbacks with his conglomerate, the Dangote Group, including production delays and supply chain issues.
His wealth, largely tied to assets denominated in naira, has been adversely affected by the currency’s sharp decline. Despite being listed as Africa’s richest person by Forbes for 13 years, Bloomberg now ranks him second in Africa and 159th worldwide.
Rupert’s rise is sustained by strong performances in the luxury sector. Aside from Richemont, his holdings include Remgro, a South African investment vehicle with stakes in over 30 companies. Rupert expanded his family’s business, which he inherited from his father, Anton Rupert, from tobacco to a multi-billion-dollar luxury empire.
Rupert resides in Cape Town but also owns properties in Geneva and London. Nicky Oppenheimer, another South African billionaire, is ranked third in Africa with $11.3 billion, followed by Egyptian businessman Nassef Sawiris at $9.48 billion, and South African investor Natie Kirsh at $9.22 billion.
The Bloomberg ranking, which tracks daily changes in net worth, suggests the title of Africa’s richest person may continue to shift as market conditions evolve.
