Johann Rupert is the owner of numerous premium companies throughout the world and has significant holdings in South Africa. Based on the most recent data from the Bloomberg Billionaires Index, South African billionaire Johann Rupert has surpassed Nigerian entrepreneur Aliko Dangote to become the wealthiest person in Africa. Owning companies like Cartier and Montblanc, Richemont is one of the biggest luxury goods companies in the world, and it is under Mr.
Rupert’s control. His net worth increased by $1.9 billion to $14.
3 billion, putting him 12 spots ahead of Mr. Dangote in the 147th position internationally. According to Bloomberg, the Nigerian’s wealth has decreased by $1.
7 billion (£1.3 billion) this year, leaving him with a $13.4 billion net worth.
The decline in Mr. Dangote’s fortune highlights the difficult economic climate in Nigeria, where the majority of his conglomerate’s operations take place. The most populous country in Africa has undergone a number of economic reforms since President Bola Tinubu took office last year, including the elimination of fuel subsidies, which have raised inflation, which is currently over 30%.
According to Mr. Tinubu, the changes were required to reduce government spending and promote long-term prosperity. Mr.
Dangote has been badly impacted by the steep decline in the value of the naira because a considerable portion of his fortune is derived from assets valued in local currency. The 66-year-old billionaire founded an oil refinery in Lagos, the commercial center of Nigeria, last year after amassing riches in the cement and sugar industries. His corporate empire, the Dangote Group, has also encountered many difficulties recently as a result of supply chain interruptions and production delays at its refinery.
Despite the economic challenges facing the nation, Forbes magazine rated him as Africa’s richest man in January for the thirteenth consecutive year. He is ranked 159th overall and second in Africa according to the most recent Bloomberg index. The rise in Mr Rupert’s net worth was buoyed by strong performances in the luxury goods sector.
.
