Aliko Dangote has regained his position as Africa’s richest man, according to Forbes, reclaiming the title he held for 12 consecutive years. Dangote overtook South Africa’s Johann Rupert, who briefly held the position for two weeks when Nigeria devalued its currency, affecting Dangote Cement shares, his primary source of wealth.
Forbes’ latest ranking of world billionaires for 2023 confirmed that Dangote remains Africa’s richest man for the 12th year in a row. He is currently ranked 124th among the world’s wealthiest billionaires, making him the only Nigerian in the top 200 and one of only two Africans within that bracket. Johann Rupert, who deals in luxury goods, is ranked 157th with a net worth of $11.1 billion.
On Tuesday, July 11, 2023, Dangote’s net worth stood at approximately $16.9 billion, earning him a staggering N613.3 billion according to the Bloomberg Billionaire Index. In just 14 days, he climbed up 22 places from his previous position at 122, gaining close to $2 billion during that period.
Dangote’s impressive financial growth can be attributed to the surging demand for stocks of Dangote Cement on the Nigerian Stock Exchange. He reportedly made $600 million in a single day, while his business rival, Mike Adenuga, lost $2.7 billion in the same period.
