Dangote displaces South Africa’s Johann Rupert, re-emerges as Africa’s Richest Man on Forbes list

According to the recent report released by Forbes anf Bloomberg, Nigerian billionaire, Aliko Dangote displaces South Africa’s Johann Rupert to becoke the richest man in Africa.

Nigerian billionaire, Aliko Dangote has displaced South Africa’s Johann Rupert as the richest man in Africa according to a recent report by Forbes and Bloomberg.

Recall that last week, South African business morgul, Johann Rupert, took the lead over Dangote in the report released by Forbes.

However, Dangote’s net worth increased from $10 billion to $10.1 billion as of January 8, 2024, according to the Forbes Daily billionaires ranking website, which monitors daily changes to the net worth of the wealthiest people worldwide.

Currently, Johann Rupert’s net worth stand at $10 billion, having decreased from $10.7 billion on January 30, 2023.

Currently, Dangote is ranked 191st and Rupert 197th globally on the Forbes list. According to the Bloomberg Billionaire Index, Dangote is still the richest person in Africa.

Dangote’s 86 percent holding in publicly traded Dangote Cement is said to account for the most of his wealth, according to Bloomberg.

Bloomberg said: “Dangote’s other publicly traded assets include stakes in Dangote Sugar, NASCON Allied Industries, and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Industries, which also owns closely held businesses operating in food manufacturing, fertiliser, oil, and other industries.

His most valuable closely held asset is a fertiliser plant with a capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG. The valuation was confirmed by outside analysts.”

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