Forbes: South African Billionaire Becomes Richest Man in Africa, Dangote Gets New Position

• Johann Rupert, the wealthiest man in South Africa, is now the number one Billionaire in Africa as his wealth soars to new highs
• Nigeria's wealthiest man, Aliko Dangote, has dropped down the list after losing $489 million in 24 hours
• Dangote's wealth has been affected in the last year due to the depreciation of the Naira against the US dollar

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

According to the latest Forbes billionaire ranking, South African billionaire Johann Rupert is now the wealthiest man in Africa.

Forbes reports that Rupert's wealth swelled by $2 million in the last 24 hours, pushing his total to $12 billion.

He is now ranked 174th richest person in the world, 12 places above Aliko Dangote, who is ranked 186th

Read also

How Tebogo is the youngest wealthiest man in Botswana after Olympics triumph

According to Forbes, Dangote, now the second richest man in Africa, lost $489 million in the last 24 hours.

Dangote's total net worth has dropped $11.4 billion as of Monday, August 26, 2024.

In over ten years, Nigerian number one billionaire Dangote has occupied the position of the richest man in Africa.

Richest men in Nigeria

Forbes also revealed that aside from Dangote, three other Nigerian billionaires listed recorded a drop in their wealth.

According to Forbes, Mike Adenuga, Nigeria's second wealthiest individual, now holds a net worth of $6.7 billion after a staggering $2.7 million loss in just one day.

Similarly, Abdulsamad Rabiu's fortune dipped by $193 million, bringing his total wealth to $4.6 billion.

Read also

Nigerian billionaire Abdulsamad Rabiu loses billion of dollar as naira dips in value

Femi Otedola also suffered the same fate, with his net worth shrinking by $114 million and currently worth $1.3 billion.

Here is the ranking of Nigerian billionaires among the world's richest

Forbes releases list of 25 richest people

In a similar report, Legit.ng revealed Forbes's list of the 25 wealthiest men in the world.

The list showed that Elon Musk had been dethroned as the world's richest billionaire.

This is because he lost a substantial part of his wealth since his $44 billion takeover of Twitter.

Source: Legit.ng