"That Was Fast": Dangote Regains Top Position as Africa's Richest Man, Few Days after Losing Title
- Aliko Dangote has retaken his top spot as the wealthiest man in Africa on the Forbes list after losing the title a week ago
- Dangote dethroned South Africa's Johann Rupert after his wealth surged to $10.1 billion
- He also remains Africa's wealthiest man on Bloomberg Billionaire's Index with $15.5 billion
Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Nigerian billionaire and industrialist Aliko Dangote has retaken his position as Africa's richest man on Forbes list a few days after losing it to South Africa's Johann Rupert.
According to Forbes Real-Time Billionaires, Nigerian billionaires' wealth improved by $10.1 billion on January 8, 2024.
Source: UGC
Dangote overtakes Johan Rupert of South Africa
Dangote dethroned Rupert, who held the crown for just under a week. Rupert's net worth as of January 8, 2024, was about $10 billion, a drop from $10.7 billion as of January 30, 2023.
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Dangote is now ranked 191st on the Forbes list, while Rupert is ranked 197th worldwide.
The Nigerian remains Africa's richest man on the Bloomberg Billionaire Index with a net worth of $15.5 billion.
Dangote moved six places on the Bloomberg Index, from 128 positions to 122, thanks to the recent bullish run of the Nigerian Exchange (NGX).
The share price of his cement company, Dangote Cement, accelerated to N325 per share on the NGX.
Dangote's source of wealth
The Nigerian billionaire's wealth comes primarily from his 86% stake in the Dangote Cement. He holds the shares directly and indirectly via his Dangote Industries conglomerate.
His other assets include Dangote Sugar, NASCON Allied Industries, and the United Bank for Africa.
His cash holdings are based on an analysis of dividends, taxes, insider transactions, and other expenditures.
South African billionaire starts 2024 as Africa’s richest man, Dangote gets new position
Legit.ng reported South African billionaire Johann Rupert is starting the new year as the richest man in Africa, ahead of Aliko Dangote.
According to Forbes, Rupert's net worth as of Tuesday, January 2, 2023, stood at $10.3 billion, higher than Dangote's $9.5 billion.
The current net worth of Nigeria's richest man is the lowest level he is starting a new year in the last ten years.
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Source: Legit.ng
