In the list, there were significant declines in the wealth of the billionaires. Additionally, no woman made the top ten richest list at the start of the year. The declines in the wealth of these individuals are pointers to the economic challenges across African countries. The devaluation of the Naira and other economic issues can be attributed to the decrease of Dangote’s wealth. In the 2024 rankings, Johann Rupert & Family’s wealth went from $10.7b down to $10.3b to emerge Africa’s richest man with the decrease of the wealth of long-time African richest Aliko Dangote which went from $13.5b to $9.5b.

Source: Forbes January 03, 2024 20:28 UTC