Aliko Dangote, Nigerian industrial magnate and chairman of Dangote Group, has regained his title as Africa’s richest man.
Gatekeepers News reports that the entrepreneur regained his twelve-year reign as richest in Africa as he overtook Johan Rupert, South African billionaire and founder and chairman of Swiss luxury goods company ‘Richemont’, whom he lost to in August this year.
Forbes’ latest data showed that Dangote’s wealth currently stands at $11.7 billion, narrowly surpassing Rupert’s net worth, which has declined to $10.8 billion.
Just two weeks ago, Rupert held the top spot with a $1 billion gap between the two businessmen’s net worth.
Though Dangote’s financial standing has remained relatively stable, Rupert experienced a decline in his wealth following fluctuations in luxury market demand and currency pressures, hence the development.
