Aliko Dangote, the president of Dangote Group, has further solidified his position as Africa’s richest man by adding $20.7 million to his wealth as of June 30, 2023, through investments in the industrial sector.
Earlier reports from TheCable had highlighted that Dangote suffered a loss of $3.12 billion following Nigeria’s decision to float the local currency and unify its exchange rate system. Despite this setback, the latest Bloomberg Billionaires Index reveals that the business mogul remains the wealthiest individual in Africa.
According to the index released on Friday, Dangote’s net worth of $15.6 billion places him at the top among other Africans listed. This indicates a 4 percent increase in his wealth compared to his net worth of nearly $15 billion in 2020 when he climbed from the 103rd position on the billionaire index to the 63rd.
Hailing from Nigeria’s northern region, Dangote has maintained his status as Africa’s richest man for an impressive 12 consecutive years. He currently holds the 111th spot on the list of the world’s top 500 billionaires, making him the sole Nigerian representative.
In May 2023, Dangote achieved a significant milestone with the inauguration of the Dangote Petroleum Refinery, a monumental project expected to revolutionize Nigeria’s energy sector. The refinery was announced in September 2013, and Dangote secured approximately $3.3 billion in financing for the project.
In addition to the refinery, Dangote also controls Dangote Cement, the largest cement producer in sub-Saharan Africa. His business interests extend to sugar, salt, fertilizer, and packaged foods.
Among other Africans featured in the latest edition of the top 500 world billionaires index for 2023 are Johann Rupert and family (South Africa, $13.3 billion), Nicky Oppenheimer (South Africa, $9.0 billion), Nassef Sawiris (Egypt, $7.47 billion), Natie Kirsh (South Africa, $7.37 billion), and Naguib Sawiris (Egypt, $5.93 billion).
