Aliko Dangote, the president of the Dangote Group, has been surpassed in wealth by Johann Rupert of South Africa.
In the most recent Bloomberg Billionaires Index reached by BrandSpur digital news platform, which was released on Wednesday, Rupert’s wealth grew by $1.87 billion while Dangote’s, who had held the top spot for several years, saw his wealth decline by $1.7 billion year-to-date.
Through a family trust, the 74-year-old South African is in control of Cie Financiere Richemont, the largest luxury timepiece in the world. The brands owned by the Bellevue, Switzerland-based corporation are Cartier and Jaeger-LeCoultre.
Remgro, an investment vehicle situated in Stellenbosch, South Africa, that has shares in over 30 companies, is one of his other assets.
All of Dangote’s wealth, nevertheless, comes from his 86% ownership of the publicly traded Dangote Cement.
Both directly and through his conglomerate, Dangote Industries, he has shares in the business. Other publicly listed assets owned by Dangote include shares in the United Bank for Africa, Nascon Allied Industries, and Dangote Sugar. His investments span several businesses, including the production of food, oil, and fertiliser.
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In addition, he controls the Dangote Refinery, an integrated refinery in Lagos State with a daily capacity of 650,000 barrels.
Other African billionaires in the top five are Natie Kirsh (South Africa) with $9.14 billion, Nassef Sawiris (Egypt) with $9.37 billion, and Nicky Oppenheimer (South Africa), who is ranked third with a net worth of $11.3 billion.
The wealthiest persons in the world are ranked every day by the Bloomberg Billionaires Index.
The top ten richest men in the world, as per the Bloomberg Billionaires Index, are:
1. Elon Musk (United States) — $236bn
2. Bernard Arnault (France) — $198bn
3. Jeff Bezos (United States) — $197bn
4. Mark Zuckerberg (United States) — $185bn
5. Bill Gates (United States) — $160bn
6. Larry Ellison (United States) — $153bn
7. Larry Page (United States) — $149bn
8. Warren Buffett (United States) — $145bn
9. Steve Ballmer (United States) — $144bn
10. Sergey Brin (United States) — $140bn
