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- South African business magnate Johann Rupert continues to maintain his status as Africa's richest man
- Rupert's net worth in the last few days has increased from around $9 billion to over $11 billion on Forbes' list
- Dangote's wealth, which at one time seemed insurmountable, has been significantly affected by the naira's depreciation
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's net worth has increased further ahead of Aliko Dangote in the world's billionaires ranking.
Legit.ng previously reported that South Africa's richest man, Johann Rupert, had surpassed Dangote to become the wealthiest person in Africa
Source: Getty Images
World Billionaire ranking
The latest data from Forbes' Billionaires ranking platform indicates that Rupert has a net worth of $11.9 billion, ranking him as the 176th richest man in the world.
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He is eight places above Aliko Dangote, who is 184th in the world's billionaire ranking with a net worth of $11.4 billion. Similarly, the Bloomberg Billionaires Index also ranks Rupert as the richest person in Africa.
According to Bloomberg, Rupert has a net worth of $14.2 billion, making him the 147th richest man in the world, while Dangote, with a net worth of $13.4 billion, is ranked as the 159th richest man in the world
Why is Bloomberg's and Forbes's net worth different?
Forbes' wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire.
The value of individuals’ public holdings is updated every five minutes when respective stock markets are open (with stock prices delayed by 15 minutes).
Bloomberg stated that, while calculating net worth, it considers dividend income and proceeds from the sale of public and closely held shares. It also deducts taxes based on prevailing income, dividend, and capital gains tax rates in a billionaire’s country of residence.
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
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