According to Forbes and Bloomberg, Nigerian billionaire Aliko Dangote has recovered his status as Africa's richest person, dethroning South African business mogul Johann Rupert.
According to the Forbes Daily billionaires ranking tool, which analyzes daily changes in the net worth of the world's richest persons, Dangote's net worth increased by $10 billion to $10.1 billion as of January 8, 2024.
He passed Johann Rupert, a South African luxury goods tycoon, and his family.
Rupert's net worth as of press time was $10 billion, down from $10.7 billion on January 30, 2023.
Dangote is now placed 191st on the Forbes list, with Rupert ranked 197th internationally.
Dangote is also the richest man in Africa, according to the Bloomberg Billionaire Index.
According to Bloomberg, Dangote's wealth is primarily derived from his 86% share in Dangote Cement, which is publicly traded. He has stakes in the company both individually and through his conglomerate, Dangote Industries.
Bloomberg said that Dangote's other publicly traded assets include Dangote Sugar, NASCON Allied Industries, and United Bank for Africa. His investments in publicly traded firms are owned both personally and through Dangote Industries, which also holds closely held enterprises in food production, fertiliser, oil, and other industries.
"His most valuable closely held asset is a fertilizer factory that can produce up to 2.8 million tons of urea each year. KPMG performed a discounted cash flow analysis to determine its net value. Outside analysts validated the valuation.