According to Vistanaij Media, Nigerian business tycoon Aliko Dangote has regained his position as Africa’s wealthiest individual, surpassing South African mogul Johann Rupert.

The Forbes Daily billionaires ranking platform, which monitors the net worth of high-net-worth individuals worldwide, reported that Dangote’s net worth increased to $10.1 billion as of January 8, 2024, with a $10 million improvement. In contrast, Rupert’s net worth declined to $10 billion from $10.7 billion as of January 30, 2023. Dangote now holds the 191st spot on the Forbes list, while Rupert is ranked 197th globally.

Furthermore, Dangote retains the title of Africa’s richest person on the Bloomberg Billionaire Index. The majority of his wealth is attributed to his 86% stake in the publicly traded Dangote Cement. He also holds shares in other publicly traded companies such as Dangote Sugar, NASCON Allied Industries, and United Bank for Africa, both directly and through his conglomerate, Dangote Industries. Additionally, Dangote owns privately held businesses in sectors such as food manufacturing, fertilizer, oil, and more. Notably, his most valuable closely held asset is a fertilizer plant with a capacity to produce up to 2.8 million tonnes of urea annually, which is assessed using a discounted cash flow analysis by KPMG and confirmed by external analysts. His cash holdings are determined based on dividends, taxes, insider transactions, and other expenditures.