Aliko Dangote, Rabiu Abdulsamad Make N30.4billion in Eight Hours

Aliko Dangote, Rabiu Abdulsamad Make N30.4billion in Eight Hours

  • Nigerian billionaires, Aliko Dangote and Rabiu Abdulsamad have continued to grow their wealth created from businesses such as cement, agriculture
  • Dangote's fortune appreciated by 0.03 percent, Abdulsamad net worth has increased by 1.62 percent today, N28.85 billion and N1.64 billion gain respectively
  • The founder of Dangote Cement is now worth $13.4 billion, while BUA founder's wealth is put at $4.3 billion as of Tuesday, October 12, 2021

Aliko Dangote, founder of Dangote Industries Limited, and Rabiu Abdulsamad, founder of BUA Group, made a combined N30.4 billion in eight hours on Tuesday. The two billionaires recorded this amount at the end of the capital market this evening.

While Dangote remains the richest man in Africa, the cement producer fell short of the earnings his counterpart, Abdulsamad, made today, as their wealth grew by 0.03 percent and 1.62 percent respectively.

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The wealth of Dangote Cement founder rose to $13.4 billion to maintain his lead on Nigeria and Africa's richest person list. According to a tracking billionaire index by Reuters, he gained N1.64 billion in eight hours.

Aliko Dangote, Rabiu Abdulsamad Makes N30.4billion in Eight Hours
BUA founder, Abdulsamad Rabiu and richest man in Africa, Aliko Dangote. Photo: @habeeb_adamu
Source: Twitter

Abdulsamad's fortune, on the other hand, recorded a 1.62 percent increase in his net worth which rose to $4.3 billion after he gained N28.85 billion in eight hours as reported by the billionaire index.

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With his wealth put at $13.4 billion on Tuesday, Dangote occupied 191st position on the global billionaire list, sitting comfortably and far from Abdulsamad, who is placed 574th spot.

Note that both Dangote and Abdulsamad compete in the same industries, such as the cement market, sugar and salt sector. The two billionaires are also eyeing the oil industry

Business leaders of post-independence Nigeria

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Aliko Dangote is one of, if not the most vital businessman in Nigeria post-independence, as the cement mogul has established several companies creating jobs for Nigeria.

In a list compiled by Legit.ng, Dangote was mentioned alongside other notable businesspeople such as Folorunsho Alakija, Rabiu Abdulsamad, Mike Adenuga and Obi Cubana.

They have changed the face of business in Nigeria, ending the era of kola nut and groundnut being the key to success, in creating other revenue potential enterprises.

Source: Legit

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