Dangote Becomes World’s 4th Richest Person After Earning $1.3 Billion in One Day

For the past 12 years, Aliko Dangote has been Africa’s wealthiest man, according to the Bloomberg Billionaire Index. On Monday, March 20, 2023, his net worth skyrocketed by over $100 million due to the success of Dangote Cement, a company in which he holds a majority stake. The company’s share price has been performing well on the Nigerian Stock Exchange, trading at N288 per share, largely due to increased demand for cement across Africa, where Dangote Cement has a strong presence and the majority market share in Nigeria.

Dangote is currently ranked 83rd on the billionaire index, two spots lower than last week, but still ahead of two Russians, Alexey Mordashov and Alisher Usmanov, Chinese consumer retailer Chuan-Fu, and Indian commodities billionaire Lakshmi Mittal. With a net worth of $19.7 billion, Dangote is Africa’s richest man, followed by Johann Rupert and Nicky Oppenheimer & family. The other top 8 richest Africans are Abdulsamad Rabiu, Nassef Sawiris, Mike Adenuga, Issad Rebrab & family, and Naguib Sawiris.