South African luxury goods magnate Johann Rupert - Copyright © africanews

South African billionaire Johann Rupert has surpassed Nigerian industrialist Aliko Dangote to become Africa’s richest person, according to Bloomberg’s Billionaires Index.

Rupert’s net worth rose to $14.3 billion, boosted by strong performance in the luxury goods sector through his control of Richemont.

In contrast, Dangote’s fortune fell to $13.4 billion due to economic challenges in Nigeria, including high inflation and currency depreciation.

Rupert’s wealth includes stakes in Richemont and Remgro, while Dangote’s assets are primarily tied to local industries facing production and supply chain issues.