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Aliko Dangote remains behind a South African billionaire on the list of the richest men in the worldDangote’s wealth has not started the new year on the right path, as his net worth has plummeted significantlyMike Adenuga is another billionaire who recorded a drop in his net worth while the wealth of Otedola and Rabiu remained stableLegit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
New data from the Forbes billionaire list shows Nigerian business magnate Aliko Dangote has recorded another significant dip in his wealth.
Dangote’s net worth dropped to $11.1 billion, a decrease of $447 million, or approximately N693.90 billion.
Aliko Dangote is currently the second richest man in Africa
Photo credit: Bloomberg/contributor
Source: Getty ImagesWith Dangote’s current wealth level, South Africa’s richest man, Johann Rupert, remains the wealthiest person in Africa.
On Tuesday, Forbes reported that while Dangote’s wealth experienced a significant decline, Rupert’s net worth increased by $136 million, bringing his total to $11.2 billion.
Dangote is ranked 206th globally, while Rupert holds the 200th spot on the world’s richest individuals list.
Dangote, Rupert’s source of wealthAccording to Forbes, Dangote owns 85% of the publicly traded Dangote Cement through a holding company.
Dangote Cement boasts a production capacity of 48.6 million metric tons annually, with operations spanning 10 African countries.
In March 2022, Dangote’s long-anticipated fertilizer plant in Nigeria began operations, marking a significant milestone in his industrial portfolio.
Additionally, the Dangote Refinery, which began construction in 2016, is expected to commence refining operations in 2024, further solidifying Dangote’s influence in Africa’s energy and industrial sectors.
Rupert Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont.
The company is best known for the brands Cartier and Montblanc.
It was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father Anton formed in the 1940s.
He owns 7% of diversified investment firm Remgro, which he chairs, and 27% of Reinet, an investment holding company based in Luxembourg.
Rupert has been a vocal opponent of plans to allow fracking in the Karoo, a region of South Africa where he owns land.
Other Nigerian billionaire net worthThe other three Nigerian billionaires on the Forbes Rich list recorded mixed fortunes in their net worth.
Mike AdenugaAdenuga is the other Nigerian billionaire to suffer a drop in wealth after losing $4 million.
The second richest man’s current net worth is $6.8 billion
Abdulsamad RabiuThere were no changes in Rabiu’s net worth, which remains at $4.9 billion.
Femi OtedolaSimilarly, Otedola’s net worth remains unchanged at $1.6 billion.
Forbes list of 50 wealthiest black AmericansEarlier, Legit.ng reported that Forbes has released the 2024 ForbesBLK 50 list, honouring the wealthiest and most influential Black Americans for their outstanding achievements.
The list showcases exceptional leadership across various industries, innovation, and societal impact, with economic value serving as key reasons for their selections.
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Source: Legit.ng
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