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South African billionaire and one of the two richest men in Africa, Johann Rupert, has fallen below Nigeria’s Aliko Dangote, making Dangote Africa’s richest man. Both billionaires have been in rat race for the elusive title, and none of them for a few months now have taken a commanding lead.
Johann Rupert and Aliko Dangote, two of Africa’s wealthiest individuals, spent the month of August nibbling at each other’s tails.
In the 31 days that comprised August, the title of Africa’s richest man changed hands three times.
Johann eventually spent most of August as Africa’s richest man, even ousting Dangote by close to a billion. However, a few days ago, Dangote and Johanna boasted the same net worth of $13.3 billion.
Currently, Dangote has a slight edge over Johann Rupert, as his net worth dropped to $13.1 billion against Dangote’s $13.2 billion. This is according to Bloomberg’s billionaire index.
Dangote’s last change in valuation came in at -$26.4M while his year-to-date (YTD) change is -$1.84B. For Joahnna Rupert, his last change in valuation currently stands at -$234M, while his year-to-date (YTD) change is +$668M.
On Bloomberg’s list, Dangote is currently ranked as the world’s 159th richest man, against Johann, who has fallen to 163rd, a contrast from last week when Johann Rupert was ranked the 159th richest person and Dangote filled the 161st spot.
While Dangote seems to have become Africa’s richest man, this was not a result of a growth in valuation but rather a steeper decline for Johann, considering that Dangote too fell slightly in his net worth.
However, there is all likelihood that this could change, owing to the impending sale of the Dangote premium motor spirits, simply known as petrol.
Aliko Dangote recently announced that petrol produced at his 650,000-barrel-per-day facility could be available at filling stations across Nigeria within a few days.
Depending on market conditions, this could significantly alter his net worth almost immediately, pushing him higher on Bloomberg’s billionaire list.
