In a recent announcement by Forbes Magazine, South African business magnate Johann Rupert has claimed the coveted title of Africa’s wealthiest person, surpassing the longstanding reign of Nigerian industrialist Aliko Dangote.

The annual list of Africa’s richest individuals has seen a significant shuffle at the top, reflecting changes in the continent’s economic landscape.

1. Johann Rupert & Family – $10.3 Billion

Johann Rupert, at the helm of luxury goods company Richemont, has amassed a staggering net worth of $10.3 billion. The South African tycoon’s diverse business portfolio includes high-end brands such as Cartier, Montblanc, and Chloé. Known for his strategic acumen and influential role in the global luxury market, Rupert’s ascent to the top spot underscores the dynamic nature of Africa’s economic powerhouse.

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2. Aliko Dangote – $9.5 Billion

Slipping to the second position is Nigerian mogul Aliko Dangote, with a net worth of $9.5 billion. Dangote, who has long held the title of Africa’s richest person, faces intensified competition as regional economic dynamics continue to evolve. The renowned industrialist is best known for his contributions to the cement, sugar, and salt industries, forming a crucial part of Nigeria’s economic fabric.

3. Nicky Oppenheimer & Family – $8.3 Billion

Climbing up the ranks, Nicky Oppenheimer and his family secure the third spot with a combined net worth of $8.3 billion. The Oppenheimer legacy is deeply rooted in the diamond industry, with their significant stake in De Beers, one of the world’s leading diamond companies. The family’s fortunes highlight the enduring success of strategic investments over generations.

4. Nassef Sawiris – $7.4 Billion

Egyptian billionaire Nassef Sawiris, occupying the fourth position with a net worth of $7.4 billion, maintains a strong presence in the global business arena. As the CEO of Orascom Construction Industries, Sawiris contributes significantly to the construction and chemicals sectors, both locally and internationally.

5. Abdulsamad Rabiu – $5.9 Billion

Nigerian industrialist Abdulsamad Rabiu secures the fifth spot with a net worth of $5.9 billion. As the founder of BUA Group, Rabiu has made substantial strides in the cement, sugar, and real estate sectors, playing a pivotal role in Nigeria’s industrialization.

6. Nathan Kirsh – $5.8 Billion

South African-born businessman Nathan Kirsh claims the sixth spot with a net worth of $5.8 billion. Known for his success in the retail and real estate industries, Kirsh’s wealth underscores the global impact of South African entrepreneurs.

7. Issad Rebrab & Family – $4.6 Billion

Algerian businessman Issad Rebrab and his family secure the seventh spot with a combined net worth of $4.6 billion. Rebrab, the founder of the Cevital Group, has played a key role in the industrialization and diversification of Algeria’s economy.

8. Mohamed Mansour – $3.6 Billion

Egyptian billionaire Mohamed Mansour takes the eighth position with a net worth of $3.6 billion. With investments spanning automotive, real estate, and consumer goods, Mansour’s wealth reflects the resilience and adaptability of Egypt’s business leaders.

9. Naguib Sawiris – $3.3 Billion

Renowned Egyptian businessman Naguib Sawiris claims the ninth spot with a net worth of $3.3 billion. As a key player in the telecommunications industry, Sawiris continues to shape Egypt’s technological landscape.

10. Mike Adenuga – $3.1 Billion

Nigerian tycoon Mike Adenuga rounds off the top ten with a net worth of $3.1 billion. With interests in telecommunications and oil exploration, Adenuga’s diverse business ventures contribute significantly to Nigeria’s economic development.

The rearrangement of Africa’s wealthiest individuals underscores the continent’s dynamic business environment, with new players emerging and established figures adapting to changing economic landscapes.