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Dangote’s Wealth Rises by Over N18bn in 24 Hours as He’s Now Richer Than 419 Billionaires in the World
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Dangote’s Wealth Rises by Over N18bn in 24 Hours as He’s Now Richer Than 419 Billionaires in the World

by  Dave Ibemere 2 min read
  • Dangote's position among the wealthiest men in the world is impressively on the rise
  • The latest data shows that Dangote's net worth is now more than the wealth of 419 of the world's most powerful billionaires
  • In the coming months, Dangote is expected to get even richer as his refinery prepares to begin operations

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Africa's wealthiest man, Aliko Dangote, has experienced a remarkable surge in his net worth within 24 hours.

According to Bloomberg Billionaires Index, Dangote's wealth rose by a staggering N18.1 billion ($39.4 million) on Monday, May 8, 2023.

The impressive increase propelled his total net worth to $20.5 billion as of Tuesday, May 9th, 2023, compared to the $18.1 billion he held at the beginning of the year.

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Dangote's wealth rises
Dangote's wealth movement chat. Credit: Bloomberg
Source: Facebook

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Dangote's latest net worth has propelled him to the 81st spot among the world's wealthiest individuals, making him richer than 419 billionaires among the top 500 richest people globally.

Dangote, compared to other African billionaires

The closest rival to Dangote's net worth in Africa is South African billionaire Johann Rupert, who sits 134th on the billionaire list with a net wealth of $13.6 billion.

Other names of Africans in the Bloomberg 500 rich list and their worth

232- Nicky Oppenheimer ($8.75bn)

311- Nassef Sawiris ($7.35bn)

413- Naguib Sawiris ($5.92bn)

More wealth for Dangote

The wealth of Dangote is expected to grow even higher in the coming months as he completes the refinery located in Lagos.

The refinery will add to his list of investments, including Dangote Cement, Sugar, Nascon Allied Industries, and a stake in the United Bank for Africa.

Read also

"Expect jobs": Aliko Dangote lists the benefits of his refinery on Nigerian economy, launch date set

Dangote Industries also owns closely held businesses operating in food manufacturing, fertiliser, oil and other industries.

Dangote speaks on benefits of his refinery on Nigerian economy

Meanwhile, in another report, Aliko Dangote has spoken on the positive impact of his new oil refinery on Nigeria's economy

The refinery, located in Lagos, is one of the largest in the world and is expected to be launched on May 22, 2023, by President Muhammdu Buhari.

Some of the benefits expected from the refinery include export savings, manufacturing of plastics and textiles, among others.

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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