• As Five More Africans Feature in Latest Billionaires Index
Aliko Dangote, President of the Dangote Group, solidifies his position as Africa’s wealthiest individual and is now ranked as the 65th richest person globally, despite challenges posed by Nigeria's volatile currency.
According to Bloomberg's latest Billionaires Index, released on Thursday, Dangote's fortune has surged to $28 billion following the start of operations at his new petrochemical refinery, valued at over $20 billion.
This ranking marks his highest position yet, up from 83rd in 2022.
The newly operational Dangote Refinery, located in Ibeju-Lekki near Lagos, is the largest single-train oil refinery in the world and one of the most complex.
Capable of processing various global crude types, it aims to make Nigeria self-sufficient in fuel production.
The refinery began producing petrol in September, alongside other products like diesel and Jet-A1, more than doubling Dangote's net worth to $28 billion, as noted by the Bloomberg Billionaires Index.
No other African billionaire is close to Dangote’s latest global ranking. South Africa’s Johann Rupert follows at 174th with a net worth of $13.6 billion, and Nicky Oppenheimer ranks 224th with $11.6 billion.
Other Africans on the list include South Africa’s Natie Kirsh (297th, $9.25 billion), and Egypt’s Nassef Sawiris (302nd, $9.16 billion) and Naguib Sawiris (407th, $7.37 billion).
The Bloomberg Billionaires Index provides a dynamic, daily ranking of the world’s wealthiest individuals, reflecting market movements and economic changes.
The net worth figures are updated after each business day, factoring in the latest share prices and exchange rates.
Globally, Elon Musk and Jeff Bezos led the billionaire rankings with fortunes of $242 billion and $210 billion, respectively.
They are followed by Mark Zuckerberg and Larry Ellison with $204 billion and $185 billion.
In addition to his business achievements, Dangote has been recognized as one of the world’s leading philanthropists by Richtopia, a UK-based digital publication.
This accolade followed a $1.25 billion endowment to the Aliko Dangote Foundation (ADF), which he founded in 1981 to drive social change through investments in health, education, and economic empowerment.
The Aliko Dangote Foundation, formally established as a charity in Lagos in 1994, has grown into the largest private foundation in sub-Saharan Africa.
Its primary focus is on health and nutrition, complemented by programs in education, economic empowerment, and humanitarian relief.
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