Aliko Dangote, the prominent Nigerian billionaire, has reclaimed his title as the wealthiest person in Africa, as reported by Forbes and Bloomberg. This shift in rankings sees him surpassing South African business magnate Johann Rupert.
According to the Forbes Daily Billionaires ranking platform, which meticulously tracks fluctuations in the net worth of high-profile individuals globally, Dangote’s wealth has seen a notable increase of $10 billion, now standing at $10.1 billion as of January 8, 2024.
This surge has propelled him ahead of Johann Rupert, the South African luxury goods tycoon and his family, whose net worth currently sits at $10 billion, a decline from $10.7 billion recorded on January 30, 2023.
Dangote now holds the 191st position on the prestigious Forbes list, with Rupert trailing closely behind at the 197th spot worldwide. Additionally, on the Bloomberg Billionaire Index, Dangote maintains his status as Africa’s wealthiest individual.
Bloomberg highlights that the majority of Dangote’s wealth originates from his substantial 86 percent stake in the publicly traded Dangote Cement. These shares are held both directly and through his conglomerate, Dangote Industries.
In addition to Dangote Cement, his portfolio includes stakes in other publicly traded entities such as Dangote Sugar, NASCON Allied Industries, and United Bank for Africa. Dangote Industries, which owns both publicly traded and closely held businesses spanning food manufacturing, fertilizer, oil, and other sectors, contributes significantly to his diverse wealth.
One notable asset within his portfolio is a fertilizer plant capable of producing up to 2.8 million tonnes of urea annually. KPMG’s discounted cash flow analysis, confirmed by external analysts, attests to its substantial net value.
