Kano-born Business magnate, Aliko Dangote, has remained Africa’s richest man, a feat he has maintained for 12 years in a row, according to Bloomberg Billionaire Index.
The Nigerian billionaire’s net worth ballooned on Monday, March 20, 2023, after he made over $1 billion in one day.
Dangote saw his net worth increase following the stellar performance of Dangote Cement, where he controls the majority stake. This also came after the company announced a share buyback a fortnight ago.
Dangote Cement’s share price has maintained a good run at the Nigerian Stock Exchange, trading at N288 per share.
The performance is due to increased demand for cement across Africa, where Dangote Cement maintains a firm grip and has the majority market share in Nigeria, its primary market.
Africa’s richest man, whose refinery will begin operations this year, is ranked 83rd on the billionaire index, ahead of two Russians, Alexey Mordashov and Alisher Usmanov.
Dangote dropped two positions as he was ranked 81st on the table but lost over N13 billion last week.
He also maintains a clear lead ahead of the Chinese consumer retailer, Chuan-Fu and Indian commodities billionaire Lakshmi Mittal.
With a net worth of $19.7 billion, Dangote is Africa’s richest man, ahead of Johann Rupert and Nicky Oppenheimer & family.
Top 8 richest Africans:
- Aliko Dangote.
- Johann Rupert & family.
- Nicky Oppenheimer & family.
- Abdulsamad Rabiu.
- Nassef Sawiris.
- Mike Adenuga.
- Issad Rebrab & family.
- Naguib Sawiris.
