Rupert
By Publisher
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Johan Rupert, the South African billionaire and chairman of Richemont, the luxury goods conglomerate, has dethroned Nigerian Dangote Aliko and reclaimed his Africa’s richest man title.
Dangote’s slide to the second spot followed the decline of the networth of the Dangote Group, by over $1 billion.
According to the latest data from the Bloomberg Billionaires Index, Dangote’s networth now stands at $13.4 billion, which is less than Rupert’s $14.3 billion networth.
While Rupert has gained $1.87 billion, Dangote has lost approximately $1.69 billion, year-to-date.
Dangote’s losses are largely attributable to Nigeria’s challenging macroeconomic environment, where his conglomerate primarily operates.
Dangote
The Dangote Group, which has faced setbacks at its refinery due to production delays and other industrial issues, has been further impacted by the Nigerian naira’s steep depreciation.
Two weeks ago, Bloomberg ranked Dangote as the 145th richest person globally, but he has since dropped to the 160th position.
