Dangote Makes N71bn in 24 Hours, Maintains Strong Position Among Top 100 Richest in The World
- President of Dangote Industries, Aliko Dangote, has earned about N71.2 billion in the last 24 hours
- The development comes as the price of Dangote Cement surged on the floor of the Nigerian Exchange
- The new wealth gain has also kept Dangote among the world's top 100 richest people
The Chairman of Dangote Industries Plc, Aliko Dangote, is keeping his crown as Africa's wealthiest industrialist and has remained among the top 100 richest people on earth.
Data tracked by Legit.ng on the Bloomberg Billionaire Index shows that the Kano-born billionaire has continued to trudge on with a vast gain in the last 24 hours.
Source: Getty Images
Dangote Cement share price rises
The Nigerian billionaire amazed a whopping $96.2 million on Monday, September 11, 2023, thanks to the surging price of his cement empire.
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The Dangote Cement is Africa's largest cement manufacturer and has pitted Dangote among the world's wealthiest in the past 12 years.
Dangote Cement has remained one of the most traded stocks on the Nigerian Exchange, with a share price of N365 per share as of Monday, September 2023.
The cement company has also remained one of Nigeria's most profitable companies.
Controversy trails price of Dangote Cement in other African countries
There were controversies concerning the product's price in other African countries, with some saying the company sells it cheaper in other countries.
However, an investigation revealed that the product is sold more in countries such as the Benin Republic.
Nigerian billionaires suffer huge loses
With an estimated $17.5 billion in net worth, Dangote ranks below 70-year-old Russsian billionaire, Alisher Usmanove.
Dangote ranked among the top 70 richest early this year with an estimated net worth of $21.5 billion, has most of his fortunes eroded due to Nigeria's foreign exchange policy.
The new policy wiped off the fortunes of most Nigerian billionaires, including Globacom's Mike Adenuga and BUA Group's Abdul Samad Rabiu.
Dangote was briefly dethroned as Africa's richest man on the Forbes list by South Africa's Johann Ruppert earlier in the year but quickly bounced back a few weeks later.
"Learn From India": Dangote lectures FG as subsidiaries remit N474 billion in taxes to FG in 3 years
Legit.ng earlier reported that Dangote Industries Limited enhanced Nigeria's revenue with tax payments of about N474 billion in three years.
Dangote Cement, Dangote Sugar Refinery Plc, and NASCON Allied Industries, subsidiaries of Dangote Industries Limited, are all quoted on the Nigerian Exchange Limited.
An analysis of the remittances showed that Dangote Cement Plc, Africa's largest Cement producer, accounted for 87.2% of the money, paying about N412 billion into the treasury of the Nigerian government in three years consecutively.
Source: Legit.ng
