Aliko Dangote Loses Number One Spot as Africa’s Richest Man

South African businessman Johann Rupert has overtaken Aliko Dangote to become Africa’s richest man, according to Forbes Magazine’s Real-time Billionaires Ranking.

Rupert’s net worth is now $12 billion, while Dangote, presently has a net worth of $10.8 billion.

For the past 12 years, Dangote, held the number one spot as Africa’s person. But, recently, there have been changes in the financial market which affected the Dangote company, like the Central Bank of Nigeria’s decision to loosen its grip on the official exchange rate which caused Dangote’s net worth to drop by $4.12 billion.