Dangote loses his title as Africa’s richest man again. Learn about the new wealth rankings and the reasons for this shift.
The South African billionaire last held this position earlier in the year, with a fortune of $10.3 billion compared to Dangote’s $9.5 billion.
Rupert has reclaimed the top spot from Dangote on Bloomberg’s Billionaire Index with a net worth of $13.6 billion.
He is positioned slightly higher than Dangote, who also has a net worth of $13.6 billion but languishes two positions below him in the rankings.
While Dangote lands in 156th place, Rupert and his family made it to the top 154 richest people worldwide. The gap between their rankings can be traced back to diverging financial paths they took during this year.
Read Also: Africa’s richest man is replaced by Johann Rupert, according to Forbes
The latest assessment of Rupert’s worth saw a boost by $134 million, bringing his year-to-date gain to an impressive $1.21 billion.
On the other hand, while Dangote experienced a recent increase in valuation with a rise of $27 million, there was still cause for concern as his overall YTD change resulted in a significant drop of $1.53 billion.
The significant contrast in their financial achievements is probable to have played a role in Rupert’s superior position, even though both possess identical net worth.
Despite the opening of his promising new oil refinery, Dangote has faced a significant decline in fortune losing more than $1 billion over the past year.
Even though the refinery had great potential to increase his earnings considerably; operational difficulties have caused problems leading him to consider surrendering control of NNPC’s state-owned energy corporation for help with these challenges.
