Dangote Rated Africa’s Richest Man With $15.6 Billion, Gains $20.7 Million in 24 Hours
- Aliko Dangote remains Africa’s richest man on the Bloomberg Billionaire Index, with a net worth of $15.6 billion
- The Nigerian billionaire has remained Africa’s richest man for the past 12 years and is currently the only Nigerian on the list
- The President of Dangote Industries clawed back 11 places after earning $20.7 million in 24 hours to rank 111th in the world
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The President of the Dangote Group, Aliko Dangote, remains Africa’s richest man, despite the naira devaluation against the dollar which has eroded most stocks’ values in Nigeria.
According to Bloomberg, Dangote has a total net worth of $15.6 billion and is Africa’s richest man.
Source: UGC
Dangote remains the only Nigerian on the wealthiest people's list
Dangote is the only Nigerian on the list, which contains the 500 wealthiest people in the world, and has been Africa’s richest man for the last 12 years.
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His closest rival in Nigeria, Abdul Samad Rabiu, dropped off the list after losing about $2.8 billion following Nigeria's naira devaluation.
Dangote controls the Dangote Industries, a closely-held conglomerate.
The Dangote Group owns Africa’s biggest cement manufacturer, Dangote Cement, and is the primary source of the billionaire’s wealth.
The firm also has interests in sugar, salt, fertilizer, and packaged foods.
He recently commissioned the &19 billion Dangote Refinery, Africa’s most significant.
He emerged as the most charitable man in the world by the World Richtopia, a US-based digital periodical covering business, economics, and financial news.
Other Africans on the list
Other Africans listed on the Bloomberg 500 wealthiest men in the world include Johann Ruppert, who ousted Dangote from the Forbes list as Africa’s wealthiest with a net worth of $13,3 billion, while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa and Naguib Sawiris of Egypt are on the Bloomberg list.
On Wednesday, June 28, 2023, Dangote jumped 11 places on the billionaire index from 122 to 111 after earning about $20.7 million in 24 hours.
The jump is Dangote’s most significant leap in two weeks since he dropped from 76th position in early June.
However, Tesla CEO Elon Musk and French billionaire Bernard Arnault are the world’s wealthiest men, with a net worth of $231 billion and $197 billion, respectively, as of the time of writing.
The duo is followed by Amazon founder Jeff Bezos and Microsoft founder Bill Gates with $151 billion and $130 billion, respectively.
Dangote loses $7 billion as Abdul Samad Rabiu falls out of billionaire Index
Legit.ng reported that two of Nigeria’s wealthiest men are in the red zone as far as the richest men in the world are concerned.
Aliko Dangote has lost over $7 billion and dropped to the 122nd wealthiest man in the world from the 76th position he occupied during the week.
His fortunes have nosedived since Nigeria devalued its currency, leading to a considerable loss as most of his stocks are traded in the local currency, the naira.
Source: Legit.ng
