AFRICA ( commonwealth Union ) _ Aliko Dangote, a Nigerian billionaire, has held the title of richest person in Africa for 12 years running, despite his fortune declining by millions as a result of a reduction in the value of Dangote Cement. According to Forbes’ list of African billionaires for 2023, Nigerian entrepreneur Aliko Dangote retains his title as Africa’s richest man for the 12th consecutive year despite a $400 million decline in his wealth to $13.5 billion.
The decline in the value of Dangote Cement shares, which he controls 85% of, as well as a year of higher inflation brought on by a highly unstable global climate account for the loss in Dangote’s wealth from year to year.
Johann Rupert, the creator of the Swiss luxury goods holding company Richemont, maintains his position as the second richest man in the world despite suffering significant losses. His wealth decreased by $300 million to $10.7 billion, in part because the share price of Richemont fell to its lowest point in more than two years.
Nicky Oppenheimer, a South African who in 2012 sold his family’s 50-year share in the massive diamond mining company De Beers for $5.1 billion, remains in the top three with a net worth estimated at $8.4 billion, a $300 million decrease from January 2022.
South African Christo Wiese, who returned to the list after winning $500 million in a protracted legal struggle against retailer Steinhoff, is the continent’s newest billionaire this year.
19 magnates from seven different nations and eight distinct industry sectors are included in this year’s ranking. Despite Wiese’s return, their total wealth has decreased from $84.9 billion to $81.5 billion. According to Forbes, the decline in equities values around the world coincided with the decline in the S&P All Africa index, which fell more than 20% in the first nine
