According to a Forbes Magazine report, Johann Rupert and his family have become the richest people in Africa, surpassing Aliko Dangote as the richest person on the continent.
Rabiu Abdulsamad and Mike Adenuga, two Nigerian billionaires, are no longer listed in the Financial Magazine’s billionaire rankings.
Aliko Dangote dropped to second place on the Forbes Daily Billionaires ranking list, which analyzes daily changes in the fortune of the world’s most affluent people. Dangote’s wealth dropped from $13.5 billion in 2023 to $9.5 billion at the beginning of 2024.
There were notable drops in the billionaires’ wealth on the list. Mike Adenuga of Nigeria rose to the tenth rank due to his fortune, whereas Patrice Motsepe, who was among the top ten in 2023, was not among the top ten richest men in 2024. Moreover, no female appeared on the list of the 10 richest people at the beginning of the year.
These people’s declining wealth serves as a window into the economic struggles facing all of Africa. The decline in Dangote’s fortune can be linked to the depreciation of the Naira as well as other economic problems.
Long-time African richest man Aliko Dangote’s fortune dropped from $13.5 billion to $9.5 billion in the 2024 rankings, making Johann Rupert & Family the richest man in Africa with a wealth of $10.3 billion instead of $10.7 billion.
Additionally, Nicky Oppenheimer & Family’s fortune dropped from $8.4 billion in 2023 to $8.4 billion in the beginning of 2024 in South Africa.
Moving up one spot, Nassif Sawiris overtook Rabiu Abdulsamad to become Africa’s fourth richest man. From $7.3 billion in 2023 to $7.4 billion in 2024, his wealth increased. Abdulsamad is now ranked fifth. His net worth dropped from $7.6 billion to $5.9 billion.
Nathan Kirsh, a new Eswatini billionaire, joined the list this year, coming in at number six with a $5.8 billion net worth. Mike Adenuga, who held the title in 2023, dropped four spots to rank ninth among African richest men. His wealth dropped from $6.3 billion to $3.1 billion.
With $4.6 billion, Algerian Issad Rebrab & Family held onto their seventh place ranking. Mohamed Mansour, who was ranked tenth in 2023, rose to the eighth spot with a $2.9 billion to $3.6 billion increase in wealth. Mansour’s wealth increased more than Naguib Sawiris’s, who remained at $3.3 billion in net worth and moved up to ninth place. Patrice Motsepe, who came in ninth in 2023, lost value and was only worth $2.5 billion in the beginning of 2024, so he was no longer in the top 10.
Here are Africa’s richest men:
1. Johann Rupert & Family $10.3 billion
2. Aliko Dangote $9.5 billion
3. Nicky Oppenheimer & Family $8.3 billion
4. Nassef Sawiris $7.4 billion
5. Abdulsamad Rabiu $5.9 billion
6. Nathan Kirsh $5.8 billion
7. Issad Rebrab & Family $4.6 billion
8. Mohamed Mansour $3.6 billion
9. Naguib Sawiris $3.3 billion
10. Mike Adenuga $3.1 billion
