Aliko Dangote has lost his position as the African Richest man to South African billionaire Johann Rupert.
Rupert overtook Dangote following the decision of the Central Bank of Nigeria to float the Naira which seriously after the Nigerian currency value.
Aliko Dangote has occupied the number one position of African top billionaires in the last 10 years.
The Central Bank of Nigeria's devaluation of the Nigerian currency, the Naira, sliced into Aliko Dangote's wealth, giving room for South African billionaire Johann Rupert to replace him as Africa's richest billionaire.
Dangote's wealth stood at $14.2 billion, compared to Rupert's net worth of $11.1 billion.
Aliko Dangote lost his position as Africa's richest man after over 10 years on top.
Amid the decline in the value of the Naira, on which Dangote's wealth is based, the Nigerian billionaire fell to the second position on Africa's richest list, while Rupert took the first spot.
Forbes reports that as of Monday, morning June 19, 2023, Dangote has lost more than $4 billion of his wealth and is now worth $10.7 billion.
On the other hand, Rupert's wealth has increased to $12.0 billion, and the gap might get bigger in the coming days.
Top 10 billionaires in Africa, net worth, and countries Here is a list of the 10 richest billionaires in Africa as at Monday, June 19, 2023, captured in the Forbes billionaire index. Billionaires Net worth Country Johann Rupert $12bn South Africa Aliko Dangote $10.7bn Nigeria Nicky Oppenheimer $8.4bn South Africa Nassef Sawiris $6.9bn Egypt Abdulsamad Rabiu $6.2bn Nigeria Issad Rebrab $4.6bn Algeria Mike Adenuga $4.3bn Nigeria Mohamed Mansour $3.6bn Egypt Naguib Sawiris $3.3bn Egypt Patrice Motsepe $2.6bn South Africa.
Dangote sees biggest loss in years as $5 billion is slashed off his net worth, Rabiu loses $2.73 billion Zenith Bank founder Jim Ovia makes over N14bn after Tinubu suspends Emefiele.
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