African richest man Dangote has been displaced from his position after holding the title for more than a decade when he first became a billionaire in 2007.
By 2013, according to the Bloomberg Billionaires Index, Dangote was the 30th-richest person in the world at the time, and the richest person in Africa.
Meanwhile, on Friday, June 16, when the news broke on the internet, Forbes Magazine made an announcement declaring Johann Rupert, a South African billionaire, as “Africa’s richest man,” surpassing Nigeria’s Aliko Dangote, who had held that title for 10 consecutive years.
According to Forbes’ real-time Global Billionaires Ranking, Rupert’s net worth was estimated at $12 billion, while Dangote’s stood at $10.8 billion.
Dangote’s net worth took a significant hit due to the depreciation of the Nigerian Naira caused by the Central Bank of Nigeria’s decision to auction the dollar at a lower rate than the official market price, resulting in a nearly 30% decrease in his wealth.
With Johann’s new status as Africa’s wealthiest individual, here are some important details to know about him:
- Johann Rupert, who is 73 years old, was born on June 1, 1950, in Stellenbosch, South Africa. He is the eldest child of his parents, business tycoon Anton Rupert and his wife, Hurberte. Rupert initially pursued studies in economics and company law at the University of Stellenbosch but eventually dropped out to embark on a business career.
- After a stint in the United States, Rupert returned to South Africa in 1979 and established Rand Merchant Bank. He served as CEO until 1984 when the company merged to form RMB Holdings.
- Following his departure from RMB, Rupert joined his father’s cigarette manufacturing company, Rembrandt Group, which was founded in 1948.
- In 1988, Rupert established Compagnie Financiere Richemont, a luxury goods holding company based in Switzerland. The same year, he was appointed as a Non-Executive Director of Rothmans International plc and received recognition from the Sunday Times as the “Businessman of the Year.”
- Rupert assumed the position of vice chairman of Rembrandt Group Limited in 1989, later becoming the company’s chairman in 1991.
- In 1997, he took on the role of Non-Executive Chairman at Gold Fields South Africa Ltd.
- Apart from his business pursuits, Johann Rupert has a passion for golf and in 1990, he established the Laureus Sport for Good Foundation, which aims to address social issues through sports. The foundation has contributed to around 675 projects globally.
