Aliko Dangote Maintains Africa’s Richest Man Status For The 13th Consecutive Year, Despite Nigeria’s Dwindling Economy
Nigerian business mogul and entrepreneur, Aliko Dangote has maintained his position as Africa’s wealthiest man for the 13th consecutive year, according to Forbes magazine, despite Nigeria’s economic challenges
Forbes’ list features 20 billionaires with a combined net worth of $82.4 billion. The magazine notes that Africa remains one of the toughest places globally to build and sustain a billion-dollar fortune.
Aliko Dangote’s wealth increased by $400 million in the past year, reaching a net worth of $13.9 billion. The 66-year-old entrepreneur, known for his success in the cement and sugar industries, also inaugurated an oil refinery in Lagos, Nigeria, last year.
Despite the challenges in Nigeria’s economic landscape, including the devaluation of the naira and soaring prices due to the removal of a fuel subsidy under President Bola Tinubu, Forbes attributes Dangote’s continued top ranking to factors like the rising share price of Dangote Cement.
Johann Rupert, a South African luxury goods tycoon, maintained the second position, while former South African diamond miner Nicky Oppenheimer secured the third spot.
