daniel chigunwe
Aliko Dangote continues to hold his title as Africa’s wealthiest man with a current net worth of US$13,4 billion, now ranking 144th globally.
His financial empire is rooted in Dangote Industries, a conglomerate headquartered in Lagos, Nigeria.
This information comes from the recent release of the 38th Annual World’s Billionaires List by the US business magazine, Forbes.
Forbes compiled its latest list of billionaires using stock prices and exchange rates from March 8, 2024.
The 66-year-old billionaire derives the majority of his fortune from his 86 percent stake in publicly traded Dangote Cement, which hit a N10 trillion market cap this year, becoming the first Nigerian company to achieve this milestone.
According to the report, Forbes found an unprecedented 2 781 billionaires around the globe for this year’s World’s Billionaires list — 141 more than in 2023 and 26 more than the previous record, set in 2021.
The super-rich are also richer than ever, with their combined wealth hitting US$14,2 trillion—US$2 trillion more than just a year ago and US$1,1 trillion above the previous record, also set in 2021.
In Africa, as in the rest of the world, there has been significant activity in the billionaire sphere, with some billionaires rising in rank, others falling, newcomers joining the list, and some dropping off altogether.
For instance, at the beginning of 2024, Johann Rupert & Family held the title of the richest in Africa with a net worth of US$10,3 billion. Aliko Dangote wasn’t far behind, with a respectable US$9,5 billion to his name.
However, the situation has since changed, with Dangote’s fortune now standing at US$13,4 billion, leaving Rupert & Family trailing with US$12,2 billion.
Nicky Oppenheimer & Family, with a wealth of US$9,5 billion from South Africa’s diamond industry, ranks 249th on the list.
Nassef Sawiris from Egypt, stands at 287th with US$8,8 billion. Nathan Kirsh from Eswatini (Swaziland), holds the 373rd position with US$7,2 billion. Mike Adenuga of Nigeria, is in 409th place with US$6,7 billion.
Abdulsamad Rabiu, another Nigerian, earns the 581st spot with US$5,2 billion, primarily from cement and sugar enterprises.
Egyptian Naguib Sawiris secured the 835th rank with US$3,8 billion. Mohamed Mansour, with diversified business interests in Egypt, stands at 991st place with US$3,3 billion.
Koos Bekker, who was not among the top 10 richest at the beginning of 2024, now sits at 1 256th place with a net worth of US$2,6 billion. — Business Insider Africa
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