Aliko Dangote is no longer Africa’s richest man.

Aliko Dangote is no longer the richest man on the African continent. South African Billionaire Johann Rupert is now Africa’s richest man.

The last time he was number one was at the start of the year, when he had a net worth of $10.3 billion, while Dangote had $9.5 billion. Billionaire Johann Rupert has surpassed Aliko Dangote in the Bloomberg Billionaires Index to become the continent’s richest man.
With a wealth of $13.6 billion, the South African business billionaire is two places ahead of Dangote, who, paradoxically, has a current net worth of $13.6 billion.
Bloomberg’s real-time Billionaires Index ranks Johann Rupert and his family as the 154th richest people in the world, while Dangote is 156th. Another important distinction between these two titans is their performance thus far.

Dangote’s recent valuation shift was +$27 million, while his year-to-date (YTD) change has been a startling -$1.53 billion. Johann Rupert’s most recent valuation change was +$134 million, while his year-to-date (YTD) change is a whopping +$1.21 billion.
This could explain why Johann Rupert is ranked a few ranks higher than Dangote, while having the same net wealth. It was claimed last week that Dangote’s net worth has fallen by more than a billion dollars in the year leading up to July 29.

And this is despite the fact that Dangote opened an oil refinery this year, which many believe will considerably boost Dangote’s profitability. Since its start, the refinery has been plagued by several challenges, to the point where the Nigerian billionaire has volunteered to transfer management of his multibillion-dollar oil refinery to the Nigerian state energy corporation NPC.

Protests in Nigeria continue to hamper economic activity, which may have resulted in a minor drop in Dangote’s business activities and, by extension, income.
From July 29 to August 2, Dangote’s net worth declined slightly from $13.8 billion to the current $13.6 billion, whereas Johann Rupert’s net worth climbed from $13.4 billion to the current $13.6 billion.