Dangote Makes More Money than Elon Musk, Bill Gates in 24 Hours, Jumps 8 Places in Billionaire List

• African billionaire Aliko Dangote in the last 24 hours made more money than Elon Musk, Bill gate and the top five richest men in the world
• Dangote's newfound wealth helped him jump 8 places to rank 83rd place to cement his place as one of the world's richest
• Much of Dangote's net worth is connected to his main firm, Dangote Cement Plc, hence changes in the stock price of the company

Africa's richest man, Aliko Dangote’s net worth in the last 24 hours has increased by N28.86 billion ($69.4 million).

According to Bloomberg, Dangote is now worth $20 billion, making him the 83rd wealthiest man alive as he rebounds from loses recorded last week.

Since the start of 2022, Dangote's wealth has increased by $934 million(N388.5bn) thanks to the impressive performance of his cement company.

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Richest men in the world suffered huge losses

As Dangote's wealth increased, the five richest men in the world Elon Musk, Jeff Bezos, Bernard Arnault and Bill Gates all suffered huge losses.

Bloomberg data shows that Elon Musk in 24 hours suffered a loss of $8.24 billion while Jeff Bezos wealth dropped by $2.43 billion.

The third and fourth richest men in the world Bernard Arnault and Bill Gate also saw their wealth plummet by $3.13 billion and $886 million respectively.

Facebook founder, Mark Zuckerberg also had a terrible day as he lost $1.48 billion of his wealth in the last 24 hours.

In fact, Dangote's newfound wealth pushed him further away from Roman Abramovich, the owner of Chelsea football club who sits at 124th with a worth of $15.4 billion.

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Dangote, Rabiu companies dominate the list of most valuable manufacturing companies

Legit.ng had earlier reported that Dangote cement and BUA cement, owned by Nigeria's richest individuals Aliko Dangote and Abdulsamad Rabiu, are the two most valuable listed manufacturing companies in Nigeria.

BUA foods another company owned by Abdulsamad sat in the third position while Nestle Nigeria completed the list of top four valuable manufacturing companies.

The ranking of the banks is according to data from the Nigerian Exchange Group (NGX) and compiled by Nairametrics.

Source: Legit.ng