• Latest
  • Trending
South African billionaire overtakes Dangote as Africa’s richest man

South African billionaire overtakes Dangote as Africa’s richest man

August 28, 2024
Private Schools join Free SHS Policy as government finalizes partnership framework

Private Schools join Free SHS Policy as government finalizes partnership framework

May 29, 2025
NRSA to sue assemblies within Accra over unauthorized Billboards

NRSA to sue assemblies within Accra over unauthorized Billboards

May 29, 2025
Govt reaffirms commitment to equitable debt restructuring

Gov’t reaffirms commitment to equitable debt restructuring

May 29, 2025
Van Vicker applauds President Mahama for remarkable cedi gains

Van Vicker applauds President Mahama for remarkable cedi gains

May 29, 2025
Ketu-South residents did not block Ketu-Aflao road in protest - Denu Police Commander clarifies

Ketu-South residents did not block Ketu-Aflao road in protest – Denu Police Commander clarifies

May 29, 2025
Passengers escape inferno as moving Bus catches fire at Gomoa Antseadze

Passengers escape inferno as moving Bus catches fire at Gomoa Antseadze

May 29, 2025
Kwesimintsim MP vows to safeguard Press Freedom and ensure responsible Journalism

Kwesimintsim MP vows to safeguard Press Freedom and ensure responsible Journalism

May 29, 2025
Global temperatures to go beyond 1.5°C limit by 2030 - WMO predicts

Global temperatures to go beyond 1.5°C limit by 2030 – WMO predicts

May 29, 2025
Private Schools Council commends government for extending Free SHS to private institutions

Private Schools Council commends government for extending Free SHS to private institutions

May 29, 2025
Nursing Unions distance themselves from GRNMA’s planned industrial action

Nursing Unions distance themselves from GRNMA’s planned industrial action

May 29, 2025
John Mahama to visit Bono East region today, May 29

John Mahama to visit Bono East region today, May 29

May 29, 2025
GOC President congratulates Black Rockets for winning gold at 2025 Africa Youth Boxing Championship

GOC President congratulates Black Rockets for winning gold at 2025 Africa Youth Boxing Championship

May 28, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News International News

South African billionaire overtakes Dangote as Africa’s richest man

in International News
South African billionaire overtakes Dangote as Africa’s richest man

South African billionaire overtakes Dangote as Africa’s richest man

Share on FacebookShare on TwitterShare on Whatsapp

South African billionaire Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as Africa’s richest person, according to the latest data from the Bloomberg Billionaires Index.

Rupert controls Richemont, one of the world’s largest luxury goods firms, which owns brands like Cartier and Montblanc.

His net worth has surged by $1.9bn to $14.3bn, placing him at 147th position globally, 12 places ahead of Mr Dangote.

The Nigerian’s fortune has fallen by $1.7bn (£1.3bn) this year, giving him a net worth of $13.4bn, Bloomberg reports.

The downturn in Mr Dangote’s wealth underscores Nigeria’s challenging economic environment, where his conglomerate primarily operates.

Since President Bola Tinubu assumed office last year, he has introduced several economic reforms in Africa’s most populous nation, including the removal of fuel subsidies, which have contributed to high inflation, currently over 30%.

Mr Tinubu said the reforms were necessary to cut government spending and stimulate long-term growth.

The sharp fall in the value of the naira has significantly affected Mr Dangote, whose wealth is largely tied to assets denominated in the local currency.

The 66-year-old businessman made his wealth in the cement and sugar industries – and last year opened an oil refinery in Nigeria’s economic hub, Lagos.

His business empire, the Dangote Group, has also faced numerous setbacks in recent months due to production delays at its refinery and supply chain disruptions.

He was listed by Forbes magazine in January as Africa’s richest man for the 13th year in a row despite the country’s economic difficulties.

But the latest Bloomberg index places him second in Africa and 159th globally.
The rise in Mr Rupert’s net worth was buoyed by strong performances in the luxury goods sector.

As well as the Switzerland-based Richemont, his other holdings include Remgro, a South African investment vehicle with stakes in more than 30 companies, Bloomberg reports.

He inherited the family business from his father, Anton Rupert, and has expanded it from mostly tobacco to become a multi-billion-dollar luxury goods venture.

The businessman attended the University of Stellenbosch to study economics but dropped his studies to join his father’s business in 1984.

Mr Rupert has been vocal about political and environmental issues in South Africa and campaigned against white-minority rule. He has received several awards for his business activities.

The billionaire lives in Cape Town, where he owns a lavish mansion, but he also has properties in Geneva and London.

Nicky Oppenheimer, another South African billionaire, was ranked the third richest person in Africa with a net worth of $11.3bn, followed by Nassef Sawiris, an Egyptian businessman, with a fortune of $9.48bn.

South African investor Natie Kirsh completed the top five African billionaires list with $9.22 bn.

Like Forbes, the Bloomberg ranking monitors daily changes in the net worth of the world’s wealthiest individuals.

The title of Africa’s richest person may continue to change hands as market conditions fluctuate and businesses navigate complex challenges.

Source: BBC Africa

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Mahama urges EC to rectify voter register issues for a peaceful, fair elections

Next Post

School selection process for 2024 BECE candidates begins August 28 to September 4 – GES

Next Post
School selection process for 2024 BECE candidates begins August 28 to September 4 - GES

School selection process for 2024 BECE candidates begins August 28 to September 4 - GES

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Private Schools join Free SHS Policy as government finalizes partnership framework
  • NRSA to sue assemblies within Accra over unauthorized Billboards
  • Gov’t reaffirms commitment to equitable debt restructuring
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.