South Africa’s Rupert overtakes Dangote as Africa’s richest man

South African businessman, Johann Rupert has taken over from Nigeria’s Aliko Dangote, as Africa’s richest man, following the Central Bank of Nigeria (CBN’s) depreciation of the Naira.

ASHENEWS earlier reported that the President of the Dangote Group, lost $3.12 billion fortune to the devaluation of Nigeria’s currency.

According to Forbes Magazine in its Real-time global Billionaires Ranking, while Rupert, the chairman of Swiss-based luxury goods company, Richemont, and South Africa-based company, Remgro, currently boasts of a $12 billion net worth, Dangote’s net worth is put at $10.8 billion.

Rupert took over the number one spot from Dangote when the CBN decided to loosen its grip on the official exchange market, which made the Nigerian billionaire’s worth drop by $4.12 billion.

Other Nigerian billionaires including; the founder of BUA cement, Abdul Samad Rabiu, and the Chairman of Globacom Limited, Mike Adenuga, were also affected as Forbes and Bloomberg had to recalculate their fortunes.

Rabiu lost $2.73 billion from his wealth as a result of the floating of the Naira by the CBN.

Ashenewsdaily.com