Dangote Makes N460Bn In One Day, Overtakes 2 Russians, One Chinese And Indian On Billionaires’ List

Aliko Dangote remains the richest person in Africa, a feat he has maintained for 12 consecutive years, according to the Bloomberg Billionaire Index.
The Nigerian billionaire’s net worth exploded on Monday, March 20, 2023, after making over $100 million in a single day.

Dangote Cement increases his net worth
Dangote saw his net worth increase following the stellar performance of Dangote Cement, where he controls a majority stake. It also comes after the company announced a share buyback two weeks ago.

Dangote Cement’s share price has maintained strong momentum on the Nigerian stock market, trading at 288 naira/share. This performance is driven by increased cement demand across Africa, where Dangote Cement maintains a strong foothold and captures the majority of the market share in Nigeria, its main market.

Dangote beat two Russians, two Asians
Africa’s richest man, whose refinery is set to open this year, ranks 83rd in the billionaires ranking, ahead of Russians Alexey Mordashov and Alisher Usmanov.

Dangote fell two places to 81st in the rankings but lost more than N13 billion last week.

It also maintains a clear lead over Chinese consumer retailer Chuan-Fu and Indian goods billionaire Lakshmi Mittal. With a net worth of $19.7 billion, Dangote is the richest person in Africa, ahead of Johann Rupert and Nicky Oppenheimer and his family.

Top 8 richest Africans

• Aliko Dangote.
• Johann Rupert & family.
• Nicky Oppenheimer & family.
• Abdulsamad Rabiu.
• Nassef Sawiris.
• Mike Adenuga.
• Issad Rebrab & family.
• Naguib Sawiris.