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African billionaires among global wealth titans in Forbes ranking

The landscape of global wealth continues to evolve, with Africa making its mark among the world’s elite billionaires.

According to the latest Forbes list, only two African billionaires have secured a place in the prestigious Top 200.

Nigerian businessman Aliko Dangote leads the way, securing 144th place with a staggering net worth of $13.4 billion.

Known for his contributions to the cement industry through Dangote Cement, Dangote’s entrepreneurial prowess continues to make waves on the international stage.

Dangote’s wealth comes primarily from his conglomerate, Dangote Industries, which includes cement manufacturing, food and other businesses.

Aliko Dangote attended the inauguration of President William Ruto.

The two met in March 2014 when Dr Ruto, then deputy president, visited Dangote Cement’s Obajana plant in Kogi state, Nigeria.

Close on his heels is South African mogul Johann Rupert and his family, who are ranked 162nd with a net worth of $12.2 billion.

Known for their significant contributions to fashion and retail, Rupert’s leadership as chairman of Swiss luxury goods company Compagnie Financiere Richemont cements their status as global players in the industry.

Growing influence

While Africa’s representation remains modest compared to other regions, the inclusion of Dangote and Rupert underscores the continent’s growing influence in terms of wealth and entrepreneurship.

The Forbes list also reveals the unprecedented growth in the number of global billionaires, with a record 2,781 individuals making the cut.

The combined wealth of these billionaires is a staggering $14.2 trillion, a significant increase on previous years.

The United States has the highest number of billionaires, with a record 813 individuals worth a total of $5.7 trillion.

China follows closely with 473 billionaires, despite facing challenges such as weak consumer spending and a property downturn.

India also emerges as a major player, with 200 billionaires securing a place on the list, reflecting the country’s burgeoning economy and entrepreneurial spirit.