Dangote emerges 64th Richest man in the World

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President of Dangote Group, Aliko Dangote has significantly moved up in the World billionaires’ list as he emerged 64th richest person in the world, with an estimated worth of $16.6 billion, as against his previous ranking of 103rd in the world.    

Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 500 billionaires, as released   by Bloomberg in its yearly billionaires list. Jeff Bezos remains the richest in the world with $136 billion in his kitty while Bill Gates and Warren Buffett followed as second and third respectively with $98.4 billion and $83 billion on the world billionaires chart, dominated by North Americans.

Dangote’s estimated worth in the latest Bloomberg ranking far outstrips an earlier ranking by the Forbes Magazine, another elite publication which placed his fortune at $10.8bn in the 2019 Forbes Africa’s Billionaires’ list released in January, although he retained the rank as the richest African for the eighth consecutive year in the latter ranking. Africa’s richest man, with his improved worth of $16.6 billion, controls Dangote Industries, a closely-held conglomerate.

The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N805.6 billion naira ($2.4 billion) in 2017. It also has interests in sugar, salt, flour, fertiliser and packaged food.

It would be recalled that Aliko Dangote, was also recently named as the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he  endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune  of $1.25 billion.

Vanguard

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