African billionaire Aliko Dangote has reclaimed his title, according to Forbes Real-Time Billionaires.
According to Obasanjo News24, South African business magnate Johann Ruper ousted Nigerian Aliko Dangote on Thursday to become the richest person in Africa.
By tracking daily changes in the wealthiest people’s net worth worldwide, the Forbes Daily billionaires ranking tool revealed that as of January 8, 2024, Dangote’s net worth had increased by $10 million to $10.1 billion.
He passed the family of South African luxury goods entrepreneur Johann Rupert.
As of January 8, Rupert’s net worth was $10 billion, having decreased from $10.7 billion on January 30, 2023.
Currently, Rupert is ranked 197th globally, and Dangote is ranked 191st on the Forbes list.
On the Bloomberg Billionaire Index, he continues to be the wealthiest person in Africa.
His 86 percent ownership in the publicly traded Dangote Cement is reportedly the source of the majority of his wealth, according to Bloomberg. Both directly and through his conglomerate, Dangote Industries, he has shares in the business.
“Dangote’s other publicly traded assets include stakes in United Bank for Africa, NASCON Allied Industries, and Dangote Sugar,” the statement read. He owns direct and indirect shares in the publicly traded companies through Dangote Industries, which also owns closely held enterprises in the food, fertiliser, and oil industries.
“A fertiliser factory that can produce up to 2.8 million tonnes of urea annually is his most valuable closely held asset. KPMG’s discounted cash flow analysis serves as the foundation for its net value. External analysts verified the valuation.
An examination of dividends, taxes, insider trades, and other expenses forms the basis of his cash holdings.
