South African billionaire Johann Rupert has surpassed Aliko Dangote, the President of the Dangote Group, to become the richest person in Africa, according to the latest Bloomberg Billionaires Index.
Rupert’s net worth surged by $1.87 billion this year, while Dangote’s fortune declined by $1.7 billion during the same period.
As a result, Dangote, who had long held the title of Africa’s richest man, now ranks second with a net worth of $13.4 billion.
Johann Rupert, 74, controls Cie Financière Richemont, the world’s largest luxury watchmaker, headquartered in Bellevue, Switzerland.
The company owns prestigious brands such as Cartier and Jaeger-LeCoultre. Rupert’s wealth is further bolstered by his investment vehicle, Remgro, which holds stakes in over 30 companies across various industries in South Africa.
Aliko Dangote, whose wealth is primarily derived from his 86% stake in Dangote Cement, has been a fixture at the top of Africa’s rich list for several years.
His business empire also includes huge investments in sugar, salt, and banking through Dangote Industries.
Additionally, Dangote owns the Dangote Refinery in Lagos, a massive 650,000 barrels-per-day facility that has been a focal point of Nigeria’s energy sector.
In Bloomberg’s latest ranking, South African billionaire Nicky Oppenheimer holds the third position with a net worth of $11.3 billion.
He is followed by Egyptian businessman Nassef Sawiris, valued at $9.37 billion, and South African investor Natie Kirsh, with $9.14 billion, rounding out the top five.
Meanwhile, News About Nigeria reports that Dangote announced that he was willing to sell his oil refinery to the Nigerian National Petroleum Company (NNPC) Limited.
In an interview with Premium Times, he addressed ongoing disputes between his refinery and Nigeria’s regulatory authorities, expressing frustration over accusations of monopolistic practices.
“Let them [NNPCL] buy me out and run the refinery the best way they can,” Dangote stated.
“They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s okay. If they buy me out, at least their so-called monopolist would be out of the way.”
“We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem, but it does appear some people are uncomfortable that I am in the picture.”
