In the latest Forbes Magazine rankings for 2024, Johann Rupert and his family have seized the title of Africa’s richest, dethroning Aliko Dangote from the top position. The financial magazine’s daily billionaires ranking platform revealed significant shifts in the net worth of high-profile individuals across the continent.
Aliko Dangote, who held the pinnacle in 2023, experienced a notable decrease in wealth, dropping from $13.5 billion to $9.5 billion at the beginning of 2024. This shift is indicative of broader economic challenges faced by African nations, including the devaluation of the Naira and other economic uncertainties.
Johann Rupert & Family’s fortunes, though declining from $10.7 billion to $10.3 billion, were enough to secure the top spot. The South African tycoon’s wealth emerged as the highest on the continent, overshadowing Dangote’s diminished financial standing.
In contrast, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga saw a decline in their rankings, with Abdulsamad slipping to the fifth position, witnessing his diversified wealth decrease from $7.6 billion to $5.9 billion. Adenuga, who occupied a higher position in 2023, moved down four places to become the tenth richest man in Africa, with his wealth plummeting from $6.3 billion to $3.1 billion.
The 2024 rankings also welcomed a new entrant, Nathan Kirsh from Eswatini, securing the sixth position with a net worth of $5.8 billion. Notably, Patrice Motsepe, who held the ninth position in 2023, failed to make the top ten list at the beginning of 2024, as his wealth depreciated to $2.5 billion.
The economic fluctuations reflected in these rankings underscore the challenges faced by Africa as a whole. Nassif Sawiris moved up one place, dislodging Rabiu Abdulsamad, while Mohamed Mansour climbed from the tenth to the eighth position, with his wealth increasing from $2.9 billion to $3.6 billion.
As of the beginning of 2024, here is the updated list of Africa’s richest men:
- Johann Rupert & Family $10.3 billion
- Aliko Dangote $9.5 billion
- Nicky Oppenheimer & Family $8.3 billion
- Nassef Sawiris $7.4 billion
- Abdulsamad Rabiu $5.9 billion
- Nathan Kirsh $5.8 billion
- Issad Rebrab & Family $4.6 billion
- Mohamed Mansour $3.6 billion
- Naguib Sawiris $3.3 billion
- Mike Adenuga $3.1 billion
