Dangote, Three Other Nigerian Billionaires Get New Ranking In World Rich List

• The wealth of Nigeria's wealthiest men has increased marginally in 2024, despite challenges with naira's depreciation
• Although in recent weeks, Aliko Dangote's wealth took a significant hit, costing him his status as Africa's richest man
• Other Nigerian billionaires listed on the Forbes World’s list include Mike Adenuga, Abdul Samad Rabiu, and Femi Otedola

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The combined wealth of four of Nigeria's wealthiest men stands at $24.9 billion, reflecting a significant increase of nearly $4 billion compared to the estimated $21 billion at the beginning of January 2024.

Nigeria billionaires' net worth

Data from Forbes shows that Aliko Dangote, who remains Nigeria's wealthiest billionaire, started the year with a net worth of $10.3 billion.

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Dangote’s rival retains title as Africa’s richest man on world’s billionaire list

In the last eight months, Forbes reports that Dangote's wealth has increased by $1.6 billion, now at $11.9 billion as of August 30, 2024.

Mike Adenuga - $6.7bn

Mike Adenuga is the second-richest man in Nigeria, with a net worth of $6.7 billion. He is currently the 452nd richest man in the world.

Abdulsamad Rabiu - $4.9bn

Abdul Samad Rabiu is the third-richest man in Nigeria, with a net worth of $4.9 billion.

He is the 668th wealthiest man in the world.

Abdulsamad Rabiu founded BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate.

Femi Otedola - $1.4bn

Femi Otedola is one of Nigeria's wealthiest individuals and currently the fourth richest man, with a net worth of $1.4 billion.

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Forbes: South African billionaire becomes richest man in Africa, Dangote gets new position

Forbes ranks Otedola as the 2,242 richest man in the world. At the start of the year, he was not on the list.

Dangote loses Africa's richest spot

Earlier, Legit.ng reported that Nigerian billionaire Aliko Dangote lost his title as the wealthiest man for the second time in a month.

South Africa's Johann Rupert claimed the top spot from the Nigerian industrialist after Dangote's wealth declined due to a drop in the shares of his company, Dangote Cement.

Source: Legit.ng