Johann Rupert Overtakes Aliko Dangote, Becoming The Wealthiest Man in Africa

South African luxury goods tycoon, Johann Rupert has become Africa’s richest person, overtaking Nigeria’s Aliko Dangote, who previously held the top position.

According to the latest figures from the Bloomberg Billionaires Index, Rupert’s net worth has climbed to $14.3 billion, pushing him ahead of Dangote, whose fortune has dropped to $13.4 billion.

Rupert, controls the world’s largest luxury watchmaker, Cie Financiere Richemont. The Switzerland-based company owns prestigious brands like Jaeger-LeCoultre and Cartier.

Dangote 's net worth had decreased from about $1.69 billion this year. The decline is largely attributed to the current difficult economic conditions in Nigeria.

In the rankings, South African billionaire Nicky Oppenheimer comes in third with a net worth of $11.3 billion. He is followed by Egyptian businessman Nassef Sawiris with $9.37 billion, while South African investor Natie Kirsh is fifth with $9.14 billion.