Dangote Reclaims Title As Africa's Richest Man Ahead of South African Billionaire
- Aliko Dangote has reclaimed his title as Africa's richest man, overtaking his closest rival, South African billionaire Johann Rupert
- Dangote reclaimed his title despite a drop in his wealth, while Rupert's wealth has significantly depleted in the last 24 hours
- Dangote's net worth is still below $11 billion, but he has risen to among the 160 richest people in the world
Aliko Dangote, the chairman of the Dangote Group, has reclaimed his title as Africa’s richest man, overtaking South African billionaire Johan Rupert.
According to the latest data from Bloomberg, Dangote’s wealth currently stands at $13.2 billion, just ahead of Rupert’s net worth, which has declined to $13.1 billion.
Source: Getty Images
This change restores Dangote's at the top of Africa's wealthiest list after losing it to Rupert in August 2024.
The Bloomberg Billionaires Index currently ranks Dangote as the 159th richest person in the world, four places ahead of Rupert, who is positioned at 163rd.
Forbes also lists Dangote as number-one
Similarly, the Forbes Billionaire Index has listed Dangote as the richest man in Africa, but with a different net worth.
According to Forbes, as of Sunday, September 8, Dangote is worth $11.7 billion and is the 188th richest person in the world.
Meanwhile, Johann Rupert has a net worth of $10.8 billion and has dropped to the 205th position in the world billionaire ranking.
Other Nigerian billionaires' net worth
- Abdulsamad Rabiu- $6.6 billion
- Mike Adenuga- $4.8 billion
- Femi Otedola - $1.4 billion
Why is Forbes's and Bloomberg's net worths different?
Forbes’ wealth-tracking platform uses the value of individuals’ public holdings and is updated every five minutes when respective stock markets are open (with stock prices delayed by 15 minutes).
Bloomberg calculates net worth by considering dividend income and proceeds from the sale of public and closely held shares.
It also deducts taxes based on prevailing income, dividend, and capital gains tax rates in a billionaire’s country of residence.
Dangote to earn $30bn from refinery, other investments
Legit.ng previously reported that Aliko Dangote, Africa's wealthiest individual, revealed his expectation that the total revenue from his businesses would surpass $30 billion by the close of 2024.
The Nigerian billionaire and founder of the Dangote Group is renowned for his extensive business empire, which includes subsidiaries specialising in a wide range of goods and services across various sectors of Nigeria's economy.
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Source: Legit.ng
