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Aliko Dangote Maintains African Richest Man Position With $15.6bn, Bloomberg Adjudged

Despite the fluctuation of the Nigerian naira versus the dollar, Aliko Dangote, president of the Dangote Group, continues to be the richest man in Africa.

Dangote outranked other Africans in the Index according to Bloomberg’s daily top billionaire rankings, which were published on Tuesday. Dangote’s wealth was estimated to be $15.6 billion.

The sole Nigerian in Bloomberg’s list of the top 500 billionaires was Dangote, who has been the wealthiest person in Africa for the past 12 years.

Johann Rupert and family of South Africa, currently valued at $13.3 billion, is another African listed in the most recent top 500 list of the world’s richest people for the year 2023. Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris are also listed, with respective net worths of $9.0 billion, $7.47 billion, $7.37 billion, and $5.93 billion. The list only included these five additional Africans.

The world’s wealthiest persons are included each day in the Bloomberg Billionaires Index. Bloomberg News works to provide the most transparent net worth computations possible, and each billionaire profile includes a thorough examination of how that person’s wealth is calculated.

The index is a fluid indicator of individual wealth based on market, economic, and Bloomberg reporting changes.

After the closing of New York trading each business day, each net worth figure is updated. The most recent closing price of the stock is used to determine the worth of stakes in publicly listed corporations. At the current exchange rate, valuations are translated to U.S. dollars.

With $219 billion and $194 billion in their cat accounts, respectively, Ellon Musk and Bernard Arnault are the world’s richest people, while Jeff Bezos and Bill Gates are in second and third place, with $151 billion and $130 billion, respectively. With $130 billion, Larry Ellison ranked fifth among the world’s billionaires.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations through the Bloomberg Terminal.’

Africa’s richest man, with his new worth of $15.6 billion, controls Dangote Industries, a closely-held conglomerate.

The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertiliser and packaged foods. Dangote also recently commissioned the $19bn petroleum refinery plant, which is now the Africa’s largest refinery.

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Recall that Aliko Dangote was recently recognised as one of the world’s most generous people by Richtopia, a digital publication located in the UK that covers business, economics, and financial news.

This honour followed his $1.25 billion endowment of the Aliko Dangote Foundation (ADF), his charitable organisation.

In order to increase prospects for social transformation, Aliko Dangote established his Foundation in 1981. Its goals are to advance quality education, improve health and welfare, and increase opportunities for economic empowerment.

However, the Aliko Dangote Foundation was established as a charitable organisation in Lagos, Nigeria, in 1994.

The Foundation now has the highest endowment from a single African donor and is the largest private foundation in sub-Saharan Africa after 20 years.

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