Rabiu Now Fourth Richest Man in Africa As Dangote and Others’ Wealth Drop by N3.16tn in 2022

• Abdulsamad Rabiu has jumped in the list of richest men in Africa as the wealth of others drop
• Forbes reports that Rabiu is now the fourth richest man in Africa one place higher than where he started 2022
• This happened as Dangote and other billionaires lost over N3trillion in the last three months

Abdulsamad Rabiu, the chairman of BUA Cement Plc has risen to fourth place on the list of Africa's wealthiest men unseating Egyptian billionaire, Nassef Sawiris.

According to Forbes, Rabiu made over $1.1 billion in 2022 and now has a net worth of $8.1 billion, up from $7 billion when the year began.

The US-based medium also reports that Rabiu is the only African billionaire in the top 10 that has recorded an increase in his wealth.

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Rabiu wealth performance

Rabiu wealth growth is thanks to the positive performance of his publicly traded assets on the Nigerian Exchange( NGX) which includes cement production, sugar refining and real estate.

The increase in the market value of his companies has further solidified his position as Nigeria’s second-richest man and also narrowed the wealth gap between him and Africa’s richest man Aliko Dangote.

Changes in the wealth of richest men in Africa

The last 12 months have seen major changes in the net worth of African richest men.

How they rank as at January 2022

1. Aliko Dangote- $13.9bn
2. Johann Rupert & family- $11bn
3. Nicky Oppenheimer & family- $8.7bn
4. Nassef Sawiris- $8.6bn
5. Abdulsamad Rabiu- $7bn
6. Mike Adenuga- $6.7bn
7. Issad Rebrab & family- $5.1bn
8. Naguib Sawiris- $3.4bn
9. Patrice Motsepe- $3.1bn
10. Koos Bekker- $2.7bn
11. Strive Masiyiwa- $2.7bn

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How they rank now in December 2022

1. Aliko Dangote- $12.9bn
2. Johann Rupert & family- $9.6
3. Nicky Oppenheimer & family- $8.6bn
4. Abdulsamad Rabiu- $8.1bn
5. Nassef Sawiris- $7bn
6. Mike Adenuga- $5.8bn
7. Issad Rebrab & family- $5.1bn
8. Naguib Sawiris- $3.4bn
9. Patrice Motsepe- $2.7bn
10. Koos Bekker- $2.5bn
11. Strive Masiyiwa- $1.2bn

Police react to the discovery of rotten naira notes in Benue, name the real owner

Meanwhile, the Nigerian police force has responded to a social media video that went viral showing rotting Naira notes in Benue.

The viral video has sparked a lot of emotional outbursts among Nigerians with many fingers pointing at politicians.

Several discoveries of old, rotting notes have made their way into social media after CBN introduced new Naira notes

Source: Legit.ng