South African tycoon beats Dangote to Africa’s billionaire crown

Dar es Salaam. Move over, Dangote! After 12 years as Africa's richest person, Nigerian tycoon Aliko Dangote has been dethroned by South African luxury king Johann Rupert and his family.

Forget diamonds and oil rigs for a second - think fancy handbags and shiny watches. That's Rupert's game.

Think fancy watches and sparkly jewels? That's Rupert's world. He owns Cartier and Montblanc, among other luxurious brands, through his Swiss company.

He also has a big stake in an investment company in South Africa, making him and his family super wealthy with $10 billion in their pockets.

Dangote, on the other hand, saw his fortune shrink thanks to a wobbly Nigerian currency, landing him second place with $9.5 billion. Though it is quite a close call, it is still enough to give Rupert the crown.

So, what happened? Turns out, the Nigerian naira took a major tumble last year, making Dangote's wealth look smaller when measured in U.S. dollars.

Meanwhile, Rupert's fancy brands stayed in high demand, boosting his bank account.