Dangote, Rabiu’s Wealth Rise by Over N300bn in a Week, Leaving Mike Adenuga Further Behind
- Aliko Dangote and Abdul Samad Rabiu experienced a significant surge in their wealth within a week, according to Forbes' billionaire ranking.
- Dangote's net worth soared by $300 million, attributed to the strong performance of his cement company
- Mike Adenuga's wealth remained unchanged, leaving him further behind Dangote and Rabiu
Aliko Dangote and Abdulsalam Rabiu, two of Nigeria's most prominent business tycoons, have witnessed a remarkable surge in their wealth by $800 million(N364.41bn) within a week(Sunday, 4 March 2023 to Sunday, 12 March 2023)
On the other hand, the third richest man in Nigeria, Mike Adenuga, did not witness any growth in his wealth during the same period.
As per Forbes' billionaire ranking data, Aliko Dangote's wealth surged from $13.9 billion on March 4th to $14.2 billion on March 12th, reflecting an increase of $300 million (N138.1 billion).
Source: Facebook
Aliko Dangote's wealth surge was primarily attributed to the exceptional performance of his company, Dangote Cement, and the resulting increase in share prices.
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Over the review period, Dangote Cement's share price soared from N278 to N288 per share.
Abdulsalam Rabiu
Also, Forbes reports that Abdulsalam Rabiu's net worth stood at $8.2 billion as of March 12th, reflecting a $500 million increase compared to his net worth of $7.7 billion on March 4th.
Rabiu's impressive performance is also thanks to the growth in his conglomerate, BUA Group, which has interests in cement, sugar, and flour production.
Mike Adenuga
However, it is a different story for Mike Adenuga as his net worth remained unchanged at $6.1 billion, widening the wealth gap between him and the two other billionaires.
Despite trailing, Adenuga remains one of Nigeria's most successful and influential business leaders, with Globacom as the second-largest mobile network operator in the country and Conoil having operations across Africa.
Dangote to pocket N293bn from cement company massive sales in 2022
Meanwhile, in another report, Legit.ng revealed that Africa's richest man will be walking home with over N293 billion as dividends from his cement company, Dangote Cement.
Aliko Dangote's cement company recorded a revenue jump of 16.96% in 2022 to hit a high of over N1.61 trillion.
Dangote's dividend is more than the budget of 25 states for the fiscal year of 2023.
Source: Legit.ng
