Aliko Dangote crowned Africa's wealthiest individual by Bloomberg, amassing $15.6bn

 

Aliko Dangote, the President of Dangote Group, has maintained his position as the wealthiest individual in Africa, despite the fluctuating value of the Nigerian currency against the dollar. According to Bloomberg's daily billionaire rankings released on Tuesday, Dangote's wealth of $15.6 billion surpassed that of other African billionaires, securing his place at the top of the index.

For the twelfth consecutive year, Dangote has retained his title as the richest man in Africa. Notably, he was the sole Nigerian to feature on Bloomberg's list of the top 500 billionaires.

The latest top 500 world billionaires list for the year 2023 includes several other Africans. Johann Rupert and his family from South Africa are now worth $13.3 billion. Nicky Oppenheimer from South Africa, Nassef Sawiris from Egypt, Natie Kirsh from South Africa, and Naguib Sawiris are also on the list, with net worths of $9.0 billion, $7.47 billion, $7.37 billion, and $5.93 billion respectively. These are the only five other Africans who made it onto the list.

The Bloomberg Billionaires Index is a daily ranking of the world's wealthiest individuals. Bloomberg News aims to provide the most transparent calculations possible when determining net worth. Each billionaire profile includes a detailed analysis of how their fortune is calculated.

The index provides a real-time assessment of individuals' wealth, taking into account market fluctuations, economic conditions, and Bloomberg's reporting. The net worth of each individual is updated daily, following the close of trading in New York. The value of publicly traded companies' stakes is determined based on the most recent closing price of their shares. All valuations are converted to U.S. dollars using the current exchange rates.

As of the latest update, Ellon Musk and Bernard Arnault hold the top positions on the global wealth chart, with $219 billion and $194 billion respectively. They are followed by Jeff Bezos with $151 billion and Bill Gates with $130 billion. Larry Ellison ranks fifth among the world's billionaires, also with a net worth of $130 billion.

Bloomberg L.P. is a renowned global information and technology company that serves as a vital link between decision makers and a vibrant network of data, individuals, and concepts. With a mission to deliver precise business and financial information, news, and insights to its customers worldwide, Bloomberg offers a range of financial software tools, including an analytics and equity trading platform, data services, and news, through its widely used Bloomberg Terminal. This platform caters to the needs of financial companies and organizations, empowering them with essential resources for their operations.

Dangote Industries, a privately-owned conglomerate based in Lagos, Nigeria, is controlled by Africa's wealthiest individual, who now boasts a net worth of $15.6 billion. The company holds significant stakes in various sectors, including sub-Saharan Africa's largest cement producer, Dangote Cement. Additionally, it has investments in sugar, salt, fertilizers, and packaged foods. Notably, Dangote recently inaugurated Africa's largest petroleum refinery plant, a project worth $19 billion.

Aliko Dangote, who was recently recognized as one of the most charitable individuals in the world by Richtopia, a UK-based digital periodical, has made a significant contribution to his foundation. 

The Aliko Dangote Foundation (ADF) received a generous endowment of $1.25 billion. Dangote established the foundation in 1981 with the aim of creating social change through strategic investments in healthcare, education, and economic empowerment.

Credit: championnews.com.ng

#AlikiDangote

#Bloomberg

#AfricaRichestMan