Aliko Dangote reclaims title of Africa’s richest person

"According to Forbes, the fortunes of Africa’s wealthiest people rebounded slightly in the past 12 months, reversing the decline in their fortunes from a year ago, though they were still off their all-time highs"

Samuel AkpanJanuary 23, 20241.9k

After the opening of 2024, most of Africa’s richest people saw their fortunes shrink to a greater or lesser extent, the Nigerian business tycoon has reclaimed the coveted spot of Africa’s richest person with a net worth of $13.9 billion.

Johann Rupert, a South African business mogul, toppled Dangote after his wealth decreased from $13.5 billion in 2023 to $9.7 billion as of January 4, 2024.

Forbes Real-Time Billionaires, a ranking platform that monitors daily changes in the net worth of the world’s wealthiest people, disclosed this.

According to Forbes, the fortunes of Africa’s wealthiest people rebounded slightly in the past 12 months, reversing the decline in their fortunes from a year ago, though they were still off their all-time highs.

The New Jersey-based media outfit pointed out that the 20 billionaires on the 2024 Forbes list of Africa’s Richest were worth a combined $82.4 billion, up $900 million from last year’s $81.5 billion.

Forbes stated that the combined wealth of the 20 billionaires on the 2024 list of Africa’s Richest amounts to $82.4 billion, a slight increase from the previous year’s total of $81.5 billion.

Stock prices and exchange rates from the close of business on January 8, 2024 were factors in Forbes’ methodology for determining net worth.

Femi Otedola, the Executive Chairman of Geregu Power Plc, was also included in the list of Africa’s richest individuals, with a net worth of $1.1 billion.

Otedola had last appeared on the Forbes Africa list in 2017, when he held a controlling stake in fuel distributor Forte Oil.

The 2024 list also revealed that Africa’s billionaires experienced a slight dip but fared better than the previous year.

Johann Rupert and his family from South Africa, who have a net worth of $10.1 billion, and Nicky Oppenheimer and his family, who have a net worth of $9.4 billion, are the two South African businessmen who are closely following Dangote.

Additionally, Nassef Sawiris has a net worth of $8.7 billion, while Nigeria’s Mike Adenuga and the Chairman of BUA Group, Abdulsamad Rabiu, hold respective net worths of $6.9 billion and $5.9 billion.