Johann Rupert Africa’s Richest Man Suffers Huge Wealth Loss, 8 Days After Overtaking Dangote

• Johann Rupert who recently surpassed Aliko Dangote to become Africa's wealthiest person, has lost a huge chunk of his fortune
• This is according to data sourced from Forbes, which tracks the fortunes of ultra-high-net-worth individuals worldwide
• Despite the setback, Rupert still retains his position as the richest man in his country and the African continent

South African billionaire Johann Rupert has experienced a significant setback in his net worth, days after becoming Africa's richest man.

Data obtained from Forbes revealed that Rupert's wealth has dropped by $400 million since assuming the position of Africa's richest man.

Forbes noted that as of Sunday, June 25, 2023, Rupert is worth $11.6 billion, compared to his net worth of $12 billion on June 17, 2023, when he dethroned Aliko Dangote.

African billionaire wealth drops

For over 10 years, Dangote was unchallenged at the top of the list of African billionaires until the decision of the Central Bank of Nigeria to float the naira.

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Since the decision, the wealth of Dangote has dropped significantly, and it seems that it will continue to do so as the Naira value of naira depreciates in the official and black exchange markets.

At the time of writing, Aliko Dangote, now Africa’s second-richest person, trails behind Rupert with a net worth of $9.7 billion, compared to the $14.2 billion he was worth on the morning of June 17, 2023.

This indicates that since the CBN decided to float the Naira, Nigeria's richest man Dangote has lost over $4.5 billion (N3.70 trillion) of his wealth.

List of 10 richest men in Africa as Dangote loses position to South African

Meanwhile, in another report, Legit.ng revealed the list of richest men in Africa following Aliko Dangote's huge wealth loss in just a few days.

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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.

Nigerian richest man has occupied the number one position as Africa's top billionaire for the past 10 years.

Source: Legit.ng