Africa’s richest man, Aliko Dangote, has emerged as the 67th richest person in the world with an estimated net worth of $20.7 billion, as against his previous ranking of 72nd in the world last month, according to Bloomberg’s billionaires’ index.
Due to an increase in the market value of his cement company, the 64-year-old Nigerian businessman’s wealth has increased by over $1.5 billion this year, reaching $20.7 billion as of May 4, 2022.
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Dangote’s income is mostly generated from his 86 percent interest in publicly-traded Dangote Cement, according to Bloomberg.
The company’s performance has been on the rise since the beginning of the year, as investors on the Nigerian stock exchange resumed their interest in stocks following the group’s strong financial performance disclosed in its 2021 results.
Dangote was listed as the 97th richest person in the world in January, with a net worth of $19.2 billion. In February, the Nigerian billionaire surpassed Roman Abramovich, the popular Russian businessman and owner of Chelsea Football Club, to become the world’s 83rd wealthiest person. Abramovich is now rated 149th on the list of the world’s 500 wealthiest people.
Dangote climbed the ranks to become the 73rd richest person on the planet in March 2022, with a net worth of $20 billion. His net worth has risen to $20.7 billion, thanks to the inauguration of his newly built $2.5 billion fertilizer plant in April, as well as a leap in the Dangote cement behemoth’s shares.
In the midst of the Ukraine conflict, sweeping sanctions against Russia, the world’s third-largest oil producer, are expected to help resource-rich African economies. In this sense, the Dangote Fertiliser Plant is predicted to generate 5,000 direct and indirect jobs, with the Nigerian billionaire expected to profit $5.15 billion from the recently commissioned fertilizer plant. The truth behind Muammar Gaddafi’s death
Dangote’s fertilizer plant is already shipping to the US, Brazil, and India.
