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Dangote’s Wealth Surges By $308m In 24 Hours

Dangote, Adenuga, Rabiu Make Forbes 2021 Billionaires List

Barely 24 hours after Aliko Dangote led African Billionaires List on Forbes and the 191st Billionaire globally in 2021, his wealth has swelled by $308 million.

On Tuesday, April 6, 2021, his asset was valued at $11.5bn by Forbes but grew by 2.68 percent in 24 hours to $308 million.

Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.

He owns 85 percent of publicly traded Dangote Cement, which produces 45.6 million metric tons annually and has operations in 10 countries across Africa.

Dangote also owns stakes in publicly-traded salt and sugar manufacturing companies.

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Dangote is building a 650,000-barrels-per-day integrated refinery and petrochemical project in Lagos and is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility upon completion.

Aliko Dangote recently said the company’s vision is to make Africa self-sufficient in the production of cement.

The Chairman of Globacom and Conoil Plc, Dr. Mike Adenuga, who is Nigeria’s second-richest person and the fifth on the continent, was ranked 440th as his fortune rose to $6.1billion from $5.6billion last year.

The wealth of the founder of BUA Group, Abdulsamad Rabiu, surged to $4.9billion from $2.9billion in 2020, making him the 574th richest person in the world and the sixth in Africa. The other Africans on the list comprise five South Africans, five Egyptians, and one Algerian.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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