See Dangote's new ranking as South African becomes richest man in Africa

• Johann Rupert, the richest man in South Africa, is now the number one Billionaire in Africa as his wealth soars to new highs
• Nigeria's wealthiest man, Aliko Dangote, has dropped down the list after losing $489 million in 24 hours
• Dangote's wealth has been affected in the last year due to the depreciation of the Naira against the US dollar

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

South African billionaire Johann Rupert is now the richest man in Africa, according to the latest Forbes billionaire ranking.

Forbes reports that Rupert's wealth swelled by $2 million in the last 24 hours, pushing his total to $12 billion.

Aliko Dangote is now the richest man in Africa Photo credit: Bloomberg/contributor
Source: Getty Images

He is now currently ranked 174th richest person in the world, 12 places above Aliko Dangote who is ranked 186th

According to Forbes, Dangote who is now the second richest man in Africa lost $489 million in the last 24 hours.and his total net worth is now $11.4 billion as at Monday, August 26, 2024.

In the over 10 years, Nigerian number one billionaire, Dangote, has occupied the position of the richest man in Africa.

Richest men in Nigeria

Forbes also revealed that, aside from Dangote, three other Nigerian billionaires listed recorded a drop in their wealth.

Mike Adenuga, Nigeria's second wealthiest individual according to Forbes, now holds a net worth of $6.7 billion after a staggering $2.7 billion loss in just one day.

Similarly, Abdulsamad Rabiu's fortune dipped by $193 million, bringing his total wealth to $4.6 billion.

Femi Otedola also suffered same fate with his net worth shrinking by $114 million, and he is currently worth $1.3 billion.

Here is the ranking of Nigerian billionaires among world richest

Forbes releases list of 25 richest people

In a similar report, Legit.ng revealed Forbes's list of the 25 wealthiest men in the world.

The list showed that Elon Musk had been dethroned as the world's richest billionaire.

This is because he lost a substantial part of his wealth since his $44 billion takeover of Twitter.

Source: Legit.ng