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South African luxurious items magnate Johann Rupert has turn into Africa’s wealthiest particular person, overtaking Nigeria’s Aliko Dangote, who beforehand held the highest place.
Rupert, 74, controls the world’s largest luxurious watchmaker, Cie Financiere Richemont, by a household belief. This Switzerland-based firm owns prestigious manufacturers like Jaeger-LeCoultre and Cartier.
In response to the newest figures from the Bloomberg Billionaires Index, Rupert’s internet price has climbed to $14.3 billion, pushing him forward of Dangote, whose fortune has dropped to $13.4 billion.
Dangote, who heads the Dangote Group, has seen his wealth shrink by about $1.69 billion this yr. The decline is essentially attributed to the troublesome financial circumstances in Nigeria, which have considerably affected his enterprise empire.
Dangote’s wealth is essentially tied to his 86% stake in Dangote Cement, which is publicly traded. His investments additionally embrace stakes in Dangote Sugar, Nascon Allied Industries, United Financial institution for Africa, in addition to pursuits in meals manufacturing, fertilizer manufacturing, oil, and the Dangote Refinery in Lagos.
Within the rankings, South African billionaire Nicky Oppenheimer is available in third with a internet price of $11.3 billion. He’s adopted by Egyptian businessman Nassef Sawiris with $9.37 billion, whereas South African investor Natie Kirsh is fifth with $9.14 billion.
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