Dangote Makes Over N217bn in 24 Hours, Jumps Past 56 Billionaires in World Ranking
- Aliko Dangote has jumped 56 places in the billionaire ranking and he is now getting closer to break into top 100
- Latest data shows the Nigerian richest man's wealth increased even further by over N217 billion in 24 hours
- His new found wealth is thanks to the strong performance of Dangote Cement on the NGX
Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Africa's richest man, Aliko Dangote, has jumped 56 places to rank as the 137th richest person in the world from the 192nd position he occupied On Tuesday, January 10, 2024.
The billionaire is experiencing a resurgence in the last few days after starting the new year at one of its lowest levels in 10 years.
Source: Getty Images
Dangote's wealth surges by $229 million
According to Forbes billionaire index, Dangote's wealth surged by $229 million (over N217 million) in one day to close Wednesday, January 11 with a net worth of $13.8 billion compared to the previous day's net worth of $10.3 billion.
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The huge leap reflects the positive performance of his companies on the Nigerian Exchange.
Analysis by Legit.ng shows that Dangote Cement's shares has been on the rise for three days.
A unit of the company's shares, which started the new week on Monday, January 8, at N325, has increased to N350 per share.
Similarly, another of its companies, Dangote Sugar, saw its share price rise from N65 per share on Monday to N67.5 per share as of Wednesday.
The future looks even brighter for Dangote as his 650,000 barrels of refinery prepares to begin the sale of its products.
South African billionaire starts 2024 as Africa’s richest man, Dangote gets new position
Ealier, Legit.ng reported South African billionaire Johann Rupert started the new year as the richest man in Africa, ahead of 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.
He has since overtaken Rupert in the list of richest men in the world.
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Source: Legit.ng
