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    • #12175
      The African Monetarist
      Lagos, Nigeria

      Latest release from

      Forbes Magazine:

      Africa 2024







      It’s official: Nigeria’s Aliko Dangote is no longer Africa’s richest man! The latest release from Forbes Magazine in January 2024 marks a significant shift in Africa‘s wealthiest individuals, with Johann Rupert surpassing Aliko Dangote to claim the title of Africa‘s richest person. According to the Forbes daily billionaires ranking platform, which provides real-time updates on the net worth of high-net-worth individuals, Aliko Dangote slipped to the second position as his wealth decreased from $13.5 billion in 2023 to $9.5 billion at the beginning of 2024.


      The list also highlights notable declines in the wealth of other billionaires, including Nigeria’s Mike Adenuga, who now occupies the tenth position. South Africa’s Patrice Motsepe, previously in the top ten in 2023, has been displaced in the 2024 rankings. Regrettably, the list does not feature any women among the top ten wealthiest individuals at the start of the year.


      The reported decline in the wealth of these individuals serve as indicators of the economic challenges faced by the #African continent. Johann Rupert family’s wealth, despite maintaining a significant position, decreased from $10.7 billion to $10.3 billion in 2024, while Aliko Dangote’s wealth declined from $13.5 billion to $9.5 billion.


      The overarching observation is that Africa’s wealth, as reflected in the fortunes of its wealthiest individuals, remains comparatively modest when compared with the global wealth landscape. These shifts underscore the dynamic nature of economic fortunes and the need to address systemic challenges to foster sustainable economic growth across the African continent.



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