In a significant shift in the African billionaires’ rankings, Johann Rupert and his family have taken the top spot in Forbes Magazine’s 2024 list, unseating Nigeria’s Aliko Dangote as the richest man on the continent. This development reflects notable changes in the wealth dynamics among Africa’s richest individuals.
The Forbes Daily billionaires ranking, which monitors daily net worth changes of the world’s wealthiest, indicates a decline in Dangote’s fortune from $13.5 billion in 2023 to $9.5 billion at the start of 2024. This drop has been attributed to various economic challenges, including the devaluation of the Naira.
Rupert, whose wealth slightly decreased from $10.7 billion to $10.3 billion, managed to rise to the top due to the more significant drop in Dangote’s wealth. Similarly, South Africa’s Nicky Oppenheimer & Family saw their wealth remain steady at $8.4 billion.
The list also highlights other significant shifts. Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have dropped in the rankings, with Adenuga now occupying the tenth spot, his wealth reducing from $6.3 billion to $3.1 billion. On the other hand, Nassif Sawiris of Egypt climbed to the fourth position with an increased net worth of $7.4 billion, surpassing Abdulsamad, whose wealth declined to $5.9 billion.
A new entrant to the list is Eswatini’s Nathan Kirsh, who secured the sixth position with a net worth of $5.8 billion. Meanwhile, Algerian Issad Rebrab & Family maintained their seventh rank, and Mohamed Mansour moved up to eighth. Naguib Sawiris also made the list, ranking ninth with a stable net worth of $3.3 billion. Notably absent from the top ten this year is Patrice Motsepe, whose wealth dipped to $2.5 billion.
These fluctuations in the fortunes of Africa’s billionaires symbolize the diverse economic landscapes across the continent. The role these individuals play in their respective economies is substantial, with their businesses contributing significantly to regional economic growth.
As 2024 unfolds, the business world will closely watch these billionaires, not only for their financial achievements but also for their impact on Africa’s economic and social development. The list serves as a benchmark for tracking the progress and influence of these influential figures throughout the year.
For more detailed information on the wealth and rankings of Africa’s richest people, readers are encouraged to refer to the Forbes Daily billionaires ranking platform and other financial publications covering these updates.