New List of 10 Richest African Billionaires and Countries Emerges as Dangote Loses Position to South African
- Aliko Dangote has lost his position as the richest African man to South African billionaire Johann Rupert
- Rupert overtook Dangote following the decision of the Central Bank of Nigeria to float the Naira, which seriously affected the value of the Nigerian currency
- Aliko Dangote has occupied the number one position as Africa's top billionaire for the past 10 years
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The Central Bank of Nigeria's devaluation of the Nigerian currency, the Naira, sliced into Aliko Dangote's wealth, allowing South African billionaire Johann Rupert to replace him as Africa's richest billionaire.
Checks by Legit.ng showed at the start of June 2023, Dangote's wealth stood at $14.2 billion, compared to Rupert's net worth of $11.1 billion.
Source: Getty Images
Amid the decline in the value of the Naira, on which Dangote's wealth is based, the Nigerian billionaire fell to the second position on Africa's richest list, while Rupert took the first spot.
Forbes reports that as of Monday morning, June 19, 2023, Dangote lost more than $4 billion of his wealth and is now worth $10.7 billion.
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On the other hand, Rupert's wealth has increased to $12.0 billion, and the gap might get wider in the coming days.
Top 10 billionaires in Africa, net worth, and countries
Here is a list of the 10 richest billionaires in Africa as of Monday, June 19, 2023, captured in the Forbes billionaire index.
| Billionaires | Net worth | Country |
| Johann Rupert | $12bn | South Africa |
| Aliko Dangote | $10.7bn | Nigeria |
| Nicky Oppenheimer | $8.4bn | South Africa |
| Nassef Sawiris | $6.9bn | Egypt |
| Abdulsamad Rabiu | $6.2bn | Nigeria |
| Issad Rebrab | $4.6bn | Algeria |
| Mike Adenuga | $4.3bn | Nigeria |
| Mohamed Mansour | $3.6bn | Egypt |
| Naguib Sawiris | $3.3bn | Egypt |
| Patrice Motsepe | $2.6bn | South Africa |
Zenith Bank founder Jim Ovia makes over N14bn after Tinubu suspends Emefiele
Meanwhile, in another report, Nigeria's richest banker, Jim Ovia, saw a significant increase of N14.2 billion in his fortune on the Nigerian Exchange in just one day.
Zenith Bank, in which Ovia holds a considerable stake, experienced a 10% increase in share price, and the market capitalisation also rose.
This happened as the market reacted positively to President Tinubu's suspension of Godwin Emefiele, pushing Nigerian stocks to a 15-year high.
Source: Legit.ng
