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Aliko Dangote, the Nigerian industrial magnate and chairman of the Dangote Group, has regained his title as Africa’s richest man, overtaking South African billionaire Johan Rupert.
According to the latest Forbes data, Dangote’s wealth currently stands at $11.7 billion, narrowly surpassing Rupert’s net worth, which has declined to $10.8 billion.
This shift marks the restoration of Dangote’s 12-year reign as the continent’s wealthiest individual, a title he briefly lost to Rupert in August 2024.
The Bloomberg Billionaires Index also corroborates this trend, placing Dangote’s fortune at $13.3 billion, marginally ahead of Rupert’s $13.2 billion.
This slight difference, though not as significant as earlier valuations, reaffirms Dangote’s lead. Just two weeks ago, the gap between the two tycoons’ net worth was reported to be approximately $1 billion, with Rupert momentarily holding the top spot.
Rupert, the founder and chairman of the Swiss luxury goods company Richemont, which owns brands such as Cartier and Montblanc, experienced a decline in his wealth following fluctuations in luxury market demand and currency pressures.
Meanwhile, Dangote’s financial standing has remained relatively stable, allowing him to reclaim his position as Africa’s wealthiest figure.
Dangote’s Ambitious Growth Strategy
Aliko Dangote, renowned for his business acumen, has not rested on his laurels. The Dangote Group, one of Africa’s largest conglomerates with interests spanning cement, sugar, salt, and oil refining, has set its sights on further growth.
In a recent presentation during a media tour of the Dangote Refinery, the billionaire outlined plans to increase the group’s revenues to an ambitious $30 billion by 2025.
Central to this strategy is a significant shift in the group’s foreign exchange (FX) operations.
