Dangote’s Wealth Surges By $20M, Retains Title As Africa’s Richest Man

This represents a 4 percent growth in Dangote’s net worth compared to his valuation of nearly…..

By Johnson Eniekenemi 

Aliko Dangote, the president of Dangote Group, has increased his wealth by $20.7 million as of June 30, 2023, primarily through investments in the industrial sector, solidifying his position as the wealthiest individual in Africa. Despite the Nigerian naira’s fluctuation against the dollar, the latest Bloomberg Billionaires Index confirms Dangote’s status as Africa’s richest man. With a total wealth of $15.6 billion, he surpasses other African billionaires on the index.

This represents a 4 percent growth in Dangote’s net worth compared to his valuation of nearly $15 billion in 2020, when he climbed from the 103rd position to the 63rd position on the billionaire index. Hailing from Nigeria’s northern region, he has held the title of Africa’s richest person for 12 consecutive years. Presently, Dangote ranks as the 111th individual globally and is the sole Nigerian featured among the top 500 billionaires.

In May 2023, Dangote inaugurated the Dangote petroleum refinery, a prestigious project expected to revolutionize Nigeria’s energy sector. The refinery’s launch came ten years after he initially announced plans for it in September 2013, securing approximately $3.3 billion in financing. Additionally, he controls Dangote Cement, the largest cement producer in sub-Saharan Africa, along with investments in sugar, salt, fertilizer, and packaged foods.

Other Africans featured in the 2023 edition of the top 500 world billionaires index include Johann Rupert and family from South Africa with a fortune of $13.3 billion, Nicky Oppenheimer from South Africa with $9.0 billion, Nassef Sawiris from Egypt with $7.47 billion, Natie Kirsh from South Africa with $7.37 billion, and Naguib Sawiris from Egypt with $5.93 billion.

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