Nigerian billionaire businessman Aliko Dangote has fallen to the bottom of the list as Africa’s richest person after South African billionaire Johann Rupert’s net worth rose from $1.9bn to $13.65bn in the past year. South Africa’s Johan Rupert overtakes Dangote as Africa’s richest man.
According to the latest Bloomberg Billionaires Index, Rupert’s net worth catapulted him to the 154th globally, two places ahead of Dangote
The latest report reveals a significant drop in Aliko Dangote’s fortune, with a decline of $10bn in six months, bringing his net worth to $13.6bn, a difference of $50m from Rupert.
The challenging economic environment in Nigeria, including high inflation and the devaluation of the Nigerian naira, are significant contributing factors to Aliko Dangote’s wealth decline.
Production delays at Dangote Group’s refinery and supply chain disruptions also contributed to the Nigerian billionaire’s wealth decline.