Aliko Dangote Reclaims Title as Africa’s Richest Man

Nigerian billionaire and industrialist Aliko Dangote has retaken his position as Africa’s richest man on the Bloomberg Billionaire Index, just days after losing it to South African magnate Johann Rupert.

According to Bloomberg, Dangote’s wealth surged by $144 million in the last 24 hours, reaching $13.7 billion on Monday, August 5, 2024.

Dangote Surpasses Johann Rupert

Rupert, who held the title over the weekend, saw his net worth drop by $334 million, leaving him with $13.3 billion as of Monday.

Dangote’s leap in wealth has propelled him to the 149th spot on the Bloomberg Billionaire Index, up from his previous position of 156th.

This ascent means Dangote has overtaken seven billionaires on the global list. Rupert, meanwhile, has slipped to the 155th position.

Dangote’s wealth primarily stems from his 86% stake in Cement, which he holds both directly and indirectly through his conglomerate, Dangote Industries.

His other significant assets include Dangote Sugar, NASCON Allied Industries, and the United Bank for Africa. His cash holdings are calculated based on an analysis of dividends, taxes, insider transactions, and other expenditures.

Previously, Business Elite reported that Aliko anticipates his businesses will generate over $30 billion in total revenue by the end of 2024.

The Nigerian billionaire, founder of the Dangote Group, is renowned for his extensive business empire, encompassing a diverse range of goods and services across various sectors of Nigeria’s economy.