Rupert overtakes Nigerian industrialist Aliko Dangote in the latest Bloomberg Billionaires Index
29 August 2024 - 23:02
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Billionaire Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as Africa’s richest person. Picture: LUKE WALKER/GETTY IMAGES
Billionaire and chair of Richemont Johann Rupert has overtaken Nigerian industrialist Aliko Dangote to become Africa’s richest person.
According to the latest Bloomberg Billionaires Index, Rupert’s net worth has surged to R270bn, surpassing Dangote, whose fortune has dropped to R253bn.
Rupert’s increase in wealth, estimated at R36bn, reflects the strong performance of Richemont, the luxury goods conglomerate he controls.
Richemont, based in Switzerland, is renowned for its prestigious brands such as Jaeger-LeCoultre and Cartier. Rupert’s ascent has placed him 147th globally in the wealth rankings.
In contrast, Dangote’s wealth has shrunk by about R30bn this year, primarily due to Nigeria’s challenging economic conditions and the devaluation of the naira.
Dangote’s fortune is closely tied to his 86% stake in Dangote Cement, with investments in Dangote Sugar, Nascon Allied Industries, United Bank for Africa and interests in food manufacturing, fertiliser production, oil and the Dangote Refinery in Lagos.
Rupert’s achievements extend beyond his financial success. He has been the highest individual taxpayer in SA for the past 20 years. Additionally, Rupert and his family are known for their extensive philanthropic efforts.
The Rupert family supports numerous educational and environmental initiatives through organisations such as the Nelson Mandela Children’s Fund, the SA College for Tourism and Ikamva Labantu.
Rupert’s commitment to philanthropy is further demonstrated by his practice of donating wages earned from his roles as chair or board member at various companies to charity.
Forbes notes: “Johann Rupert donates all the wages he earns as a chairman or a board member at various companies to multiple charities.”
The Rupert Education Foundation is dedicated to promoting educational development programmes aimed at empowering SA’s youth. This philanthropic spirit reflects Rupert’s broader commitment to social impact.
In the broader landscape of Africa’s wealthiest individuals, SA billionaire Nicky Oppenheimer holds the third position with a net worth of R200.5bn.
He is followed by Egyptian business person Nassef Sawiris with R166.2bn and SA investor Natie Kirsh with R162.2bn.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Johann Rupert is now Africa’s richest person
Rupert overtakes Nigerian industrialist Aliko Dangote in the latest Bloomberg Billionaires Index
Billionaire and chair of Richemont Johann Rupert has overtaken Nigerian industrialist Aliko Dangote to become Africa’s richest person.
According to the latest Bloomberg Billionaires Index, Rupert’s net worth has surged to R270bn, surpassing Dangote, whose fortune has dropped to R253bn.
Rupert’s increase in wealth, estimated at R36bn, reflects the strong performance of Richemont, the luxury goods conglomerate he controls.
Richemont, based in Switzerland, is renowned for its prestigious brands such as Jaeger-LeCoultre and Cartier. Rupert’s ascent has placed him 147th globally in the wealth rankings.
In contrast, Dangote’s wealth has shrunk by about R30bn this year, primarily due to Nigeria’s challenging economic conditions and the devaluation of the naira.
Dangote’s fortune is closely tied to his 86% stake in Dangote Cement, with investments in Dangote Sugar, Nascon Allied Industries, United Bank for Africa and interests in food manufacturing, fertiliser production, oil and the Dangote Refinery in Lagos.
Rupert’s achievements extend beyond his financial success. He has been the highest individual taxpayer in SA for the past 20 years. Additionally, Rupert and his family are known for their extensive philanthropic efforts.
The Rupert family supports numerous educational and environmental initiatives through organisations such as the Nelson Mandela Children’s Fund, the SA College for Tourism and Ikamva Labantu.
Rupert’s commitment to philanthropy is further demonstrated by his practice of donating wages earned from his roles as chair or board member at various companies to charity.
Forbes notes: “Johann Rupert donates all the wages he earns as a chairman or a board member at various companies to multiple charities.”
The Rupert Education Foundation is dedicated to promoting educational development programmes aimed at empowering SA’s youth. This philanthropic spirit reflects Rupert’s broader commitment to social impact.
In the broader landscape of Africa’s wealthiest individuals, SA billionaire Nicky Oppenheimer holds the third position with a net worth of R200.5bn.
He is followed by Egyptian business person Nassef Sawiris with R166.2bn and SA investor Natie Kirsh with R162.2bn.
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