Dangote Reclaims Africa’s Richest Man on Forbes, Earns N613 Billion in One Day

Aliko Dangote has reclaimed his title on Forbes as Africa’s richest man, ousting South Africa’s Johann Rupert from the position he held for two weeks. Dangote held the position for 12 consecutive years before Rupert briefly overtook him in early July as Nigeria devalued its currency, affecting the shares of Dangote Cement, his primary source of wealth. The magazine stated that Dangote is the only Nigerian on the list of the first 200 richest men in the world, with an estimated net worth of $14.2 billion, an increase from last year’s $12.1 billion. Forbes report said: “Forbes, in its latest ranking of world billionaires for 2023, reported that falling stocks, wounded unicorns, and rising interest rates translated into a down year for the world’s wealthiest people. “Dangote, presently ranked 124th among the world’s wealthiest billionaires, is the only Nigerian in the top 200 world billionaires and one of the two Africans within that bracket, with South Africa’s Johann Rupert, who deals in luxury goods ranked 157th with a net worth of $11.1bn. Meanwhile, Dangote earned a whopping N613,3 billion on Tuesday, according to Bloomberg Billionaire Index, and has climbed up 22 places from 122 he occupied weeks earlier. Bloomberg estimates Dangote’s net worth to be about $16.9 billion, gaining close to $2 billion in the last 14 days.

Agtv earlier reported that Nigeria’s richest man, Aliko Dangote, has earned close to $600 million in one day following the surging demand for stocks of Dangote Cement on the floor of the Nigerian Stock Exchange.

Forbes reports that the billionaire businessman recorded the feat on Monday, July 10, 2023, following the bullish demand for Dangote Cement stocks. Dangote’s net worth now stands at 10.5 billion on the Forbes list, representing a 5.8% increase in wealth in the last 24 hours.

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