…Still Africa’s no 1
Aliko Dangote, Africa’s richest man, has grown his wealth significantly to $27.8 billion from $13.1 billion after the commencement of operations of his newly built refinery in Lagos.
According to Bloomberg, in its latest Top 500 Billionaires Index released on Thursday, Dangote retains his position as Africa’s richest man and 65th in the world.
The new ranking is the highest the renowned Nigerian entrepreneur has attained.
Dangote was in 2022 ranked 83rd in the world, even as he significantly dropped in his net worth by the middle of this year.
The Nigerian philantropist billionaire lost over $1 billion by the middle of this year following a massive depreciation in the value of the Naira.
Dangote had recorded a net worth of $20 billion in February this year.
Dangote’s wealth since August stagnated around $13.1 billion to $13.4 billion, making South Africa’s Johann Rupert, Africa’s richest man.
Earlier in September, Dangote’s last change in valuation came in at -$26.4M while his YTD change swung around -$1.84B.
Elon Musk and Jeff Bezos are the richest in the world with $242 billion and $210 billion respectively, while Mark Zuckerberg and Larry Ellison followed respectively with $204 billion and $185 billion on the world’s billionaires’ chart.
Dangote’s foray into crude oil refining has significantly boosted his earnings and thus his position on Worlds billionaire list.