According to Bloomberg’s real-time billionaire index, Nigerian billionaire, Aliko Dangote has recently crossed the US$ billion net worth mark. The index finds that Dangote’s latest valuation change is +$282M, while its year-to-date (YTD) change is an impressive +$6. 91B .
For comparison, Dangote’s year-to-date earnings are higher than those of Jeff Bezos, whose year-to-date change is +US$4. 92 billion, Warren Buffett, whose year-to-date change is +US$6. 31 billion, and +16 That’s more than Bill Gates’ profits of US$200 million.
Aliko’s wealth has witnessed an impressive surge, starting off the year with US$ 9.5 billion ranking second behind South African Johann Rupert who was leading Africa’s rankings at US$ 10. 3 billion. As of now Aliko is now the richest after hitting just over US$ 20 billion.
Dangote’s recent gain in worth is attributed to the impressive performance of Dangote cement and is now over N10 trillion market cap and also recently got a new significant shareholder, Femi Otedola, who is also a billionaire. Femi, in a statement confirmed the recent acquisition saying that , “strategic investment underscores his confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.”
“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice,” said Otedola.
Dangote Refinery has also been attracting interest with investors as it is pushing to become a dominant player in the Africa’s oil network and is currently Africa’s largest oil refinery with a processing capacity of 650,000 barrels per day.
