According to a Forbes Magazine report, Johann Rupert and his family have become the richest people in Africa, surpassing Aliko Dangote as the richest person on the continent.
Rabiu Abdulsamad and Mike Adenuga, two Nigerian billionaires, are no longer listed in the Financial Magazine's billionaire rankings.
Aliko Dangote dropped to second place on the Forbes Daily Billionaires ranking list, which analyses daily changes in the fortune of the world's most affluent people. Dangote's wealth dropped from $13.5 billion in 2023 to $9.5 billion at the beginning of 2024.
There were notable drops in the billionaires' wealth on the list. Mike Adenuga of Nigeria rose to tenth on the rankings due to his fortune, whereas Patrice Motsepe, who was among the top ten in 2023, was not among the top ten richest men in 2024.
Moreover, no female appeared on the list of the 10 richest people at the beginning of the year.
Dangote’s declining wealth serves as a window into the economic struggles facing all of Africa. It can be linked to the depreciation of the Naira as well as other economic problems.
