Johann Rupert Ousts Aliko Dangote as Africa’s Richest Man, According to Forbes
In a recent update, Forbes magazine has declared South African billionaire Johann Rupert as Africa’s wealthiest individual, surpassing Nigerian billionaire Aliko Dangote.
As per Forbes’ Real-Time Global Billionaires Ranking, Rupert’s net worth stands at $12 billion, while Dangote trails behind with a net worth of $10.8 billion as of Friday.
Dangote’s fortune experienced a decline due to Nigeria’s currency hitting a record low after the central bank conducted dollar auctions at a rate nearly 30 percent weaker than the tightly controlled official market. This prompted Forbes and Bloomberg, the reputable sources for billionaire rankings, to recalculate the fortunes of Nigerian billionaires, resulting in significant losses for individuals like Dangote, Abdul Samad Rabiu, and Mike Adenuga.
While Forbes now recognizes Rupert as Africa’s richest person, Bloomberg still lists Dangote as the continent’s top billionaire. According to Bloomberg, Dangote’s net worth is estimated at $16.8 billion, while Rupert’s fortune is pegged at $13.3 billion.
It’s important to note that Forbes and Bloomberg employ distinct methodologies for calculating net worth, which can lead to variations in rankings. Factors such as access to financial information and verification methods can differ between the two publications. Furthermore, each outlet may apply different discounts to the diverse assets owned by billionaires.
Ultimately, the shifting rankings emphasize the dynamic nature of wealth calculations and the importance of considering multiple sources to gain a comprehensive understanding of individuals’ net worth.
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