Aliko Dangote has continued to hold the title of unquestioned richest African for a 12th year.
But according to a report just published by ForbesAfrica.com, other recent entries like Johann Rupert and Family and Nicky Oppenheimer and Family, who have respective market values of $10.7 billion and $8.4 billion, come in second and third.
According to BusinessInsider, Dangote’s wealth decreased by $400 million to $13.5 billion, and Ruppert of South Africa is quite close behind with $10.7 billion, down from $11 billion in 2022.
The shares of his Compagnie Financiere Richemont, which manufactures Montblanc pens and Cartier watches, recovered but were unable to make up the loss from the previous year.
Following a global market downturn in 2022, Africa’s wealthiest people have lost a total of $3.1 billion in the last 12 months.
The African billionaires are worth approximately $81.8 billion, a decrease from $84.9 billion held by 18 African billionaires a year ago.
Forbes reports a 3.6% decline in its report for 2023, following a 15% increase last year due to rising stock prices in Nigeria and Zimbabwe.
The wealth of billionaires fell in lockstep with global equity prices. The S&P All Africa index dropped more than 20% in the first nine months before recovering late last year, leaving the index down only 3% year on year.
Other Nigerian billionaires on the list include Abdul Samad Rabiu, Chairman of BUA Group, and Mike Adenuga, owner of Globaccom, who are ranked fourth and sixth, respectively.
The three Nigerians have a combined fortune of $26.6 billion.
The Forbes Africa report differs from the Bloomberg Billionaire Index, a daily update of billionaires’ wealth that places Dangote’s fortune at around $20 billion.