Dangote Challenged by 2 South Africans as Rabiu, Adenuga Make Forbes’ List of Richest Africans in 2023

Aliko Dangote has remained the richest African for the 12th year.

But a recently released list by ForbesAfrica.com shows other new entrants like Johann Rupert and Family and Nicky Oppenheimer and Family, coming next at $10.7 billion and $8.4 billion, respectively.

Aliko Dangote, Mike Adenuga, Abdul Samad Rabiu

Dangote’s position threatened by South African

Dangote’s wealth declined by $400 million to stop at $13.5 billion. In comparison, Rupert of South Africa sits pretty close at the second position with $10.7 billion, after dropping from $11 billion in 2022, according to BusinessInsider.

Rupert’s shares of the Compagnie Financiere Richemont, Cartier watches, and Montblanc pens rebounded, but he could not recoup the loss suffered last year.

Africa’s wealthiest people have lost a combined $3.1 billion in the last 12 months following a global market downturn in 2022.

The 19 billionaires in Africa are worth about $81.8 billion, a decline from $84.9 billion held by 18 African billionaires a year before.

Billionaires’ wealth decline across Africa

Forbes reports a 3.6% decline in its report for 2023 after a 15% increase last year on the back of surging stock values from Nigeria and Zimbabwe.

The billionaires’ wealth declined in tandem with global equities prices. The S&P All Africa index fell more than 20% in the first nine months before rebounding late last year, leaving the index down only 3% over the previous year.

Dangote, Adenuga, Rabiu

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