- The new year started with uncertainty for Africa's richest man but he is sure to end it with a big smile
- Dangote, as at December 24, 2021, added to his $19.3 billion wealth ahead of the christmas holiday
- The increase wealth, according to a report, has helped Dangote maintain position in the list of billionaires across the world
Aliko Dangote, Africa's richest man has reportedly added to his fortune an extra $48.2 million(N19.8bn) within the last 24 hours before Christmas.
Bloomberg reports that his companies which make up a third of Nigeria's total public market value increased his wealth on Friday, December 24 by 0.03%
With the gain, Dangote's wealth from January to December has reportedly increased from $1.49 it stood on Wednesday, December 23 to $1.54 billion Friday, 24 December as published by the Bloomberg Billionaires Index.
Due to the gain Dangote will maintained his place as the 97th richest man alive out of the 500 billionaires across the world.
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He remains the only Nigerian on the list reported by Bloomberg.
Dangote's wealth sources
The majority of Dangote's riches stems from his 86 percent share in Dangote Cement, which is publicly listed. He owns the corporation both individually and via his conglomerate, Dangote Industries.
Other publicly listed assets owned by Dangote include Dangote Sugar, Nascon Allied Industries, and United Bank for Africa. His investments in publicly traded corporations are owned both personally and through Dangote Industries, which also holds tightly held enterprises in the food, fertilizer, oil, and other industries.
His most valuable closely held asset is a fertilizer plant with capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG. The valuation was confirmed by outside analysts.
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Should Dangote's $19 billion oil refinery be completed is wealth is surely expected to increase even further.
Dangote on track to close 2021 at the richest level he has ever been
Earlier Legit.ng reported that for the eleven-time in a row, Aliko Dangote is on course to end the year as the richest man in Africa In 2021.
He could be doing it with aplomb surpassing the highest level he has ever attained in the last seven years.
Dangote's interests include salt, wheat, and sugar, among others, but the majority of his riches will come from his cement company this year.