Dangote Makes Over N3bn in 24 Hours, Gets New Position in World's Billionaire List

Dangote Makes Over N3bn in 24 Hours, Gets New Position in World's Billionaire List

  • The wealth of Aliko Dangote has increased significantly in the last 24 hours, helping him climb the world billionaire rich list
  • New figures published by Bloomberg show that Nigeria's richest man is among the top 70 wealthiest men in the world
  • Elon Musk continue to lead the table as the wealthiest man in the world, followed by Jeff Bezos and Larry Ellison

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigerian billionaire Aliko Dangote climbed higher on the world's billionaire list after opening the new week strong.

According to the Bloomberg Billionaires Index, Dangote made $$2.32 million or N3.90 billion on Monday, November 25, 2024.

Dangote wealth rises again
Dangote's wealth surges by over N3bn in 24 hours Photo credit: Bloomberg/contributor
Source: Getty Images

His new wealth helped push him two places to the 66th position in the world's billionaire ranking.

Bloomberg noted that Dangote's wealth is derived from various assets, from sugar to his Lagos-based company, Dangote Group.

Read also

Dangote announces cheaper petrol price than PH refinery amid strong competition

It said:

"Dangote biggest asset is the Dangote Oil Refinery, Africa's largest refiner, which began operating in early 2024.
"He owns 92.3% stake of the project, which is valued based on the amount it cost to build it: $20 billion."

Other assets owned include the Dangote Cement and stakes in Dangote Sugar, Nascon Allied Industries and United Bank for Africa.

Here are the top 10 wealthiest men in the world

On the global front, Elon Musk continues to lead as the richest man after successfully supporting Donald Trump's presidential bid.

Here is a breakdown of the ten richest men in the world

  • Elon Musk - $348 billion
  • Jeff Bezos - $219 billion
  • Larry Ellison - $206 billion
  • Mark Zuckerberg - $198 billion
  • Bernard Arnault - $163 billion
  • Bill Gates - $162 billion
  • Warren Buffett - $150 billion
  • Larry Page - $150 billion
  • Steve Ballmer - $145 billion
  • Sergey Brin - $141 billion

Read also

Fuel challenges: MURIC reacts as NNPC ends petrol products import in Nigeria

Dangote refinery to export petrol

Legit.ng previously reported that the Dangote Refinery has agreed to export more than 200,000MT of its petrol, as local demand for more expensive, higher-quality products has disappointed many Nigerians.

An executive at the refinery disclosed this, saying that the mega refinery has signed its first export orders for its petrol and will begin dispatching the products immediately after the ships arrive.

The giant refinery has been touted as supplying Nigeria’s petrol demand and servicing about 340,000 barrels of local market, ending the country’s dependence on petrol imports.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.