DANGOTE EDGED OUT AS AFRICA’S RICHEST MAN

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DANGOTE EDGED OUT AS AFRICA’S RICHEST MAN

South African billionaire Johann Rupert has emerged as the new wealthiest individual in Africa, surpassing the long-reigning champion, Aliko Dangote.

Forbes reports that as of Tuesday, January 2, 2023, Rupert’s net worth soared to an impressive $10.3 billion, while Dangote’s fortunes dwindled slightly to $9.5 billion.

This marks a significant milestone for Rupert, as he now claims the crown that Dangote has held for the past decade. His ascension on the global stage is equally noteworthy, as he is ranked as the 192nd wealthiest person in the world, according to Forbes’ latest rankings. In contrast, Dangote currently resides at the 230th position, a stark shift from his long-standing top spot.

Looking back at Dangote’s journey to wealth, it becomes clear that he experienced the highest peak in 2014 when his net worth surpassed an astonishing $20 billion. However, over time, his fortune has gradually diminished, primarily due to the devaluation of Nigeria’s currency. This year, Dangote finds himself starting with the lowest net worth for a new year in the past decade, with $9.5 billion to his name.

Interestingly, while Forbes may have placed Rupert as the wealthiest man in Africa, Bloomberg’s billionaire list tells a different tale. According to Bloomberg, Dangote still retains the prestigious title of Africa’s richest man, firmly seated at the summit. His net worth on this ranking stands at an impressive $15.1 billion, placing him at the 128th position globally. In contrast, Rupert holds the 162nd position with a net worth of $12.4 billion.

This divergence in rankings showcases the dynamic nature of wealth assessments, with different methodologies producing varying outcomes. Regardless of which list one follows, there is no denying the remarkable achievements of both Johann Rupert and Aliko Dangote, two titans of industry whose fortunes continue to captivate the world.

Things to know about Johann Rupert

Johann Rupert, an influential figure in the business world, is a South African entrepreneur and the Chairman of Richemont, a multinational luxury goods company. Born on June 1, 1950, in Stellenbosch, South Africa, Rupert hails from a family with a significant business background.

Having completed his education at the University of Stellenbosch and the University of Oxford, Rupert gained valuable knowledge in economics and subsequently embarked on his entrepreneurial journey. He co-founded Remgro, a prominent South African investment holding company, and took charge as its CEO in 1988, displaying exceptional leadership qualities.

Rupert’s visionary approach and strategic decision-making led him to expand his interests into various sectors, most notably luxury goods. As Chairman of Richemont, he oversees the operations of prestigious brands such as Cartier, Van Cleef & Arpels, and Montblanc, among others. His profound understanding of the luxury market, coupled with his commitment to excellence, has solidified Richemont’s position as a global leader.

Beyond his business ventures, Rupert is known for his philanthropy, actively supporting education, conservation, and cultural initiatives in South Africa. His passion for sustainable development and commitment to social responsibility have garnered admiration from both industry peers and the public.Johann Rupert’s indomitable spirit, astute business acumen, and dedication to improving society make him a prominent figure in the business world and a role model for aspiring entrepreneurs.

About Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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