This was revealed by Forbes Magazine in its annual list of Africa’s wealthiest individuals. The Forbes list, which tracks the wealth of African billionaires who reside or have their primary business in Africa shows that the billionaires experienced notable reductions in their wealth in the past year.
Dangote moved down to second position as his net worth dipped from $13.5 billion in 2023 to $9.5 billion in the beginning of 2024, while Rupert’s fortune decreased from $10.7 billion to $10.3 billion, to emerge as Africa’s wealthiest individual.
Nigerian billionaires, Mike Adenuga and Abdulsamad Rabiu, also lost a significant amount of their wealth. Rabiu moved from 4th to 5th after his net worth reduced from $7.6 billion to $5.9 billion, while Adenuga’s plummeted from $6.3 billion to $3.1 billion moving him down the list from 6th to 10th.
