Dangote Reclaims Title of Africa’s Wealthiest person
Alhaji Aliko Dangote, the founder/Chief Executive of the Dangote Group of companies, has reclaimed the title of Africa’s richest man, just days after South African businessman Johann Rupert briefly overtook him.
As of August 5th, 2024, according to Bloomberg’s billionaire real-time index, Dangote’s net worth stands at $13.7 billion, surpassing Rupert’s current net worth of $13.3 billion.
He is six spots above the South African billionaire on Bloomberg’s list.
On August 2nd, 2024, Rupert had risen to the top of Africa’s wealthiest with a net worth of $13.6 billion, matching Dangote’s at the time.
The two titans were neck-and-neck, with Rupert’s recent surge attributed to a $134 million increase in his last valuation, bringing his year-to-date gains to a remarkable $1.21 billion.
In contrast, Dangote’s year-to-date valuation had taken a hit, with a significant loss of $1.53 billion, despite a slight $27 million uptick in his last change in valuation.
Currently, Rupert’s last change in valuation came in at -$334M, while his year-to-date (YTD) change is +$875M, making him the 155th richest person in the world according to Bloomberg’s index.
For Dangote, his last change in valuation is +$144M and his YTD change is -$1.38B, placing him at the 149th position on the index.
Rupert’s brief reign as Africa’s wealthiest person was notable, especially considering his previous position earlier in the year when his net worth was $10.3 billion, compared to Dangote’s $9.5 billion.
The South African billionaire’s rise was fueled by strong performances across his diversified portfolio, which includes luxury goods company Richemont, known for brands like Cartier and Montblanc.
