South African Billionaire Starts 2024 As Africa’s Richest Man, Dangote Gets New Position
- Nigeria's wealthiest man, Aliko Dangote, is now Africa's second-richest man according to the latest Forbes list ranking
- Dangote fell behind South African billionaire Johann Rupert, who is the chairman of Swiss luxury goods firm Compagnie Financière Richemont
- Dangote is expected to become even wealthier in 2024 as his refinery begins production and the sale of its products
Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.
South African billionaire Johann Rupert is starting the new year as the richest man in Africa, ahead of Aliko Dangote.
According to Forbes, Rupert's net worth as of Tuesday, January 2, 2023, stood at $10.3 billion, higher than Dangote's $9.5 billion.
Source: Getty Images
The current net worth of Nigeria's richest man is the lowest level he is starting a new year in the last ten years.
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In the latest Forbes global ranking, Dangote is listed as the 230th richest man in the world, while Rupert holds the 192nd position
Dangote is now ranked number two
Dangote has held the top spot on the Forbes list for 12 years, with the highest level in 2014 when his wealth surpassed the $20 billion mark.
Over the years, Dangote's wealth has declined from $25 billion in 2014 to the current level of $9.5 million, mainly due to the devaluation of Nigeria's currency.
Dangote retains top position on Bloomberg
However, on the Bloomberg billionaire list, Dangote retains the top spot as the wealthiest man in Africa.
The ranking places Dangote as the 128th richest man in the world, with a net worth of $15.1 billion.
This is higher than Rupert's, who sits at the 162nd position with a net worth of $12.4 billion.
Dangote speaks on reported sales promo, crashing cement bag price to N2,400.
Legit.ng earlier reported that BUA Cement slashed the ex-factory price of the company's products from N5,500 to N3,500.
However, some retailers of BUA Cement in Lagos and Ogun states still sell their products above N5,000 per bag four weeks after the price slash.
A BUA representative reportedly said that the company needs more trucks to distribute its products. Hence, the retailers must hire a car for N1,000 per bag.
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Source: Legit.ng
