“That Was Fast”: Dangote Regains Top Position as Africa’s Richest Man, Few Days After Losing Title

Jan 9, 2024 | Entertainment, News


  • Aliko Dangote has retaken his top spot as the wealthiest man in Africa on the Forbes list after losing the title a week ago
  • Dangote dethroned South Africa’s Johann Rupert after his wealth surged to $10.1 billion
  • He also remains Africa’s wealthiest man on Bloomberg Billionaire’s Index with $15.5 billion

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

Nigerian billionaire and industrialist Aliko Dangote has retaken his position as Africa’s richest man on the Forbes list a few days after losing it to South Africa’s Johann Rupert.

According to Forbes Real-Time Billionaires, Nigerian billionaires’ wealth improved by $10.1 billion on January 8, 2024.

Dangote, Johann Rupert
President of Dangote Industries, Aliko Dangote
Credit: Bloomberg/Contributor
Source: UGC

Dangote overtakes Johan Rupert of South Africa

Dangote dethroned Rupert, who held the crown for just under a week. Rupert’s net worth as of January 8, 2024, was about $10 billion, a drop from $10.7 billion as of January 30, 2023.

Read also

UBA becomes new trillion-naira bank in Nigeria, as Elumelu makes over N2bn in hours

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Dangote is now ranked 191st on the Forbes list, while Rupert is ranked 197th worldwide.

The Nigerian remains Africa’s richest man on the Bloomberg Billionaire Index with a net worth of $15.5 billion.

Dangote moved six places on the Bloomberg Index, from 128 positions to 122, thanks to the recent bullish run of the Nigerian Exchange (NGX).

The share price of his cement company, Dangote Cement, accelerated to N325 per share on the NGX.

Dangote’s source of wealth

The Nigerian billionaire’s wealth comes primarily from his 86% stake in the Dangote Cement. He holds the shares directly and indirectly via his Dangote Industries conglomerate.

His other assets include Dangote Sugar, NASCON Allied Industries, and the United Bank for Africa.

Read also

Nigeria, India, China, others make list of top 10 biggest debtor countries

His cash holdings are based on an analysis of dividends, taxes, insider transactions, and other expenditures.

South African billionaire starts 2024 as Africa’s richest man, Dangote gets new position

Legit.ng reported South African billionaire Johann Rupert is starting the new year as the richest man in Africa, ahead of Aliko Dangote.

According to Forbes, Rupert’s net worth as of Tuesday, January 2, 2023, stood at $10.3 billion, higher than Dangote’s $9.5 billion.

The current net worth of Nigeria’s richest man is the lowest level he is starting a new year in the last ten years.

Source: Legit.ng





Source link

Recent Post

Trump has vowed sweeping tariffs: What comes next?

Trump has vowed sweeping tariffs: What comes next?

Donald Trump has floated broad tariffs alongside high rates on autos from Mexico and levies to stop fentanyl from entering the country. Photo: Jim WATSON / AFP/FileSource: AFPUS president-elect Donald Trump says "tariff" is the most beautiful word in the...

Recent Event Post

Jinja expedition

Jinja expedition

Event DetailsTubing: "Lazy Day Out! Relaxing river f "Float into Fun! Guided tubing tours" "River Adventure! Tube rentals available"

Post you may also like

Trump has vowed sweeping tariffs: What comes next?

Trump has vowed sweeping tariffs: What comes next?

Donald Trump has floated broad tariffs alongside high rates on autos from Mexico and levies to stop fentanyl from entering the country. Photo: Jim WATSON / AFP/FileSource: AFPUS president-elect Donald Trump says "tariff" is the most beautiful word in the...

Don Jazzy Nigeria’s Quincy Jones, says Tony Elumelu

Chairman of United Bank for Africa (UBA) Plc, Tony Elumelu has paid tribute to the late legendary music producer Quincy Jones, who passed away at 91. Elumelu praised Jones for The post Don Jazzy Nigeria’s Quincy Jones, says Tony Elumelu appeared first on...

Sign In

Register

Reset Password

Please enter your username or email address, you will receive a link to create a new password via email.