Business
Dangote Loses Crown As Africa’s Richest On Forbes Billionaires List
crown held by Dangote since 2013
The drop in value of Naira has served wealthy Nigerian, Aliko Dangote a cold breakfast on the Forbes Billionaire list.
The barometer of the wealthiest across the world has revealed that Dangote is no longer the richest man in Africa based on its ranking.
The crown held by Dangote since 2013 has passed to South African money man, Johann Rupert according to Forbes in a fresh review SocietyNow.Ng gathered.
The change in baton in who is the richest in Africa is attributed to a plunge in estimation of the value of Dangote’s on the heels of the devaluation of the Naira SocietyNow.Ng learned.
The Naira’s value dropped from 477 Naira to a dollar to 750 Naira to a dollar as the Nigerian government seeks to strengthen it with a unified rate across markets earlier this week.
The development nosedived the estimation of Dangote’s wealth on Forbes Rich list from $14.2Billion to $10.8Billion while that of Rupert stands at $12Billion.
Dangote who held the crown of the richest man in Africa on the Forbes Rich List is the 66 year old Chief Executive Officer and Chairman of Dangote Group.
Dangote group is one of the largest conglomerates in Africa with Dangote Sugar Refinery, Dangote Cement, and Dangote Flour and Dangote Petroleum Refinery, Lekki as testament to the vastness of operations.
Johann Rupert, the new Africa’s richest on Forbes Rich List is the 77year old eldest son of business tycoon Anton Rupert.
He is the chairman of Richemont, the Swiss-based luxury-goods company as well the South Africa sited firm Remgro.
Rupert is also Chief Executive Officer of Compagnie Financiere Richemont.
