[imagesource:wikimediacommons]

South African billionaire, Johann Rupert, has taken over as the number one on Africa’s richest list.

According to the latest figures on the Forbes Billionaire Ranking, Aliko Dangote is no longer the richest man in Africa, having been displaced by our very own Big Man.

Since the Dangote’s wealth is based on the value of the naira, he fell to the second position on Africa’s richest list, while Rupert took the first spot.

Dangote’s wealth dropped by $2,80 billion to $10,7 billion, from $13,5 billion, costing him the richest man position for the first time since 2008, when he first made an appearance on the Forbes Billionaire Index.

Rupert has taken the top spot with a net worth sitting pretty at $11,9 billion.

The ranking shows how Dangote’s net worth dropped by 20,7% amid the naira devaluation implemented by the Central Bank of Nigeria (CBN), reported Ripples Nigeria.

Ripples Nigeria previously reported that CBN devalued the naira, which caused the value of the Nigerian currency to drop by 40.5% since the devaluation took place last week Wednesday.

Image: Wikimedia Commons

The naira to dollar exchange rate closed Friday’s trading with N663.04/$1, up from N471.67/$1 on Tuesday, as a result of the devaluation.

However, the Bloomberg Billionaire Index points to different numbers:

Although, according to Bloomberg Billionaire Index, Dangote remains the richest man in Africa with $16,8 billion, recording a year-to-date loss of $1,86 billion.

Rupert was placed on the second spot with a net worth of $13,6 billion, with a year-to-date gain of $2,67 billion.

Forbes and Bloomberg use different methodologies to arrive at the richest man in the world or Africa list, which is why there’s a difference in net worth and position of Dangote and Rupert.

[source:ripplesnigeria]