South African luxury tycoon Johann Rupert, 74, has ascended to the top as Africa’s richest person, overtaking Nigeria’s Aliko Dangote.
Rupert, who controls the world’s largest luxury watchmaker through a family trust, oversees a Swiss-based company that includes high-end brands such as Jaeger-LeCoultre and Cartier.
According to the latest financial data, Rupert’s wealth has surged to $14.3 billion, placing him ahead of Dangote, whose net worth has fallen to $13.4 billion.
Dangote, leader of the Dangote Group, has faced a $1.69 billion decline in his wealth this year, largely due to Nigeria’s challenging economic conditions affecting his business holdings.
His financial assets are heavily invested in his 86% share of a major publicly traded cement company, alongside significant stakes in a sugar firm, food manufacturing, fertilizer production, oil, and a refinery in Lagos.
In the wealth rankings, South African billionaire Nicky Oppenheimer ranks third with $11.3 billion, Egyptian businessman Nassef Sawiris holds fourth place with $9.37 billion, and South African investor Natie Kirsh is fifth with $9.14 billion.