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Abdulsamad Rabiu’s Wealth Rises by N4bn Daily in April, Beats Aliko Dangote
Economy

Abdulsamad Rabiu’s Wealth Rises by N4bn Daily in April, Beats Aliko Dangote

by  Dave Ibemere 2 min read
  • Nigeria's top three billionaires saw their combined net worth increase by over N184.1bn in April 2023
  • Abdulsamad Rabiu came out top, beating Africa's richest man Aliko Dangote in the amount of money accumulated
  • Dangote remains unchallenged in Nigeria and Africa, but Rabiu's wealth rise gives exciting competition for the future

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Nigerian billionaires Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga increased their wealth by $400 million in April 2023.

The standout performer of the month was Rabiu, the founder of BUA Group, who outperformed Dangote in wealth accumulation.

Nigerian billionaires wealth increased
Aliko Dangote, Abdulsamad Rabiu and Mike Adenuga's combined wealth increased by $400 million. Credit: @dangote @rabiu @adenuga
Source: Facebook

According to the latest Forbes data, Rabiu's net worth rose to $8.6 billion at the end of April, indicating a $300 million (equivalent to N138.14 billion) increase compared to his wealth of $8.3 billion on April 1, 2023.

That means that, on average, Rabiu made N4.6 billion per day during the 30 days of April 2023.

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Aliko Dangote wealth also increased

On the other hand, Dangote's net worth during April increased by $100 million(N46.04 billion).

Forbes reports that at the end of April 30, Dangote's wealth climbed to $13.6 billion from $13.5 billion net worth at the start of April.

Dangote remains Africa's richest man, and his wealth is on course to grow higher as many of his investments mature in the coming months.

Mike Adenuga's net worth

Mike Adenuga, the founder of Globacom, maintained his third position with a net worth of $6.1 billion, which remained unchanged during April.

Aside from telecommunication, Adenuga also has business interests in oil and gas and shares in the banking sector.

Here is how much Nigerian billionaires made in April 2023

  • Aliko Dangote- $100 million
  • Abdulsamad Rabiu- $300 million
  • Mike Adenuga- unchanged

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"More money": Dangote, other cement producers in Nigera record over N600bn revenue in 3 Months

Access Bank CEO, Wigwe buys over N11.3bn new shares

Meanwhile, in another report, Access Holdings CEO Herbert Wigwe has cemented his place as one of the most significant shareholders

The bank revealed that he paid over N11 billion to buy more shares in the financial institution.

Wigwe is one of Nigeria's highest-paid CEO and received huge compensation for his excellent work in 2022.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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