Elon Musk’s Tumbling Fortunes Still Makes Him Far Richer Than Dangote, Africa’s Richest Man

Elon Musk’s Tumbling Fortunes Still Makes Him Far Richer Than Dangote, Africa’s Richest Man

  • The world's richest man, Elon Musk has lost about $64.5 billion in 2022 alone but he still maintains a clear lead on the richest people's table
  • He is currently worth over $200 billion and is 10 times richer than Aliko Dangote, Africa's richest man
  • Must own electric car manufacturing company, Tesla and SpaceX while Dangote is the owner of the Dangote Group, a cement making company, among others

When compared to the world’s richest man, Elon Musk, Dangote’s wealth pales in significance.

Elon Musk has lost about $64.5 billion in 2022 as he maintains a clear lead from Africa’s richest man, Aliko Dangote who gained about $1.51 billion this year as the sale of Dangote Cement surges across Africa.

Aliko Dangote, Elon Musk, SpaceX, Tesla, Dangote Cement
Dangote's wealth pales in significance to Elon Musk's Credit: ANGELA WEISS / Contributor
Source: Getty Images

King of boys: Elon Musk still tops the table

Bloomberg billionaire index puts Elon Musk’s net worth at $206 billion which still places him at the top spot as the world’s richest man.

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Dangote, the richest man in Africa stands at the 65th position on the richest people table and is currently worth $20.6 billion, although gaining $1.51 billion this year.

At their current standing, Elon Musk is ten times richer than Dangote.

Musk is the CEO of Tesla, the electric car maker and owns SpaceX, a rocket manufacturing company used by NASA to take supplies to the space station.

Dangote is the founder of the Dangote Group, Africa’s largest conglomerate which is involved in Cement manufacturing, Sugar refining, salt and seasoning, fertilizer, infrastructure and others.

Elon Musk vs Aliko Dangote

The Tesla CEO’s wealth can acquire 112 million troy ounces of gold and 1.78 billion barrels of crude oil.

Nairametrics report says Elon Musk's wealth is about 0.983 per cent of the GDP of the US and 2.95 per cent of the total wealth of the 500 richest people in the world.

Dangote’s wealth is 0.0983 per cent of the GDP of the United States and 0.295 per cent of the total wealth of the 500 richest people in the world.

Elon Musk's wealth takes a hit

Elon Must is gunning to acquire Twitter, the social networking site after buying its 9.2 per cent stake, while Dangote said his refinery company will start producing crude oil in Nigeria in the third quarter of 2022.

There has been a decline in tech stocks this year, where Elon Musk plays, and the global central banks move to hike interest rates in order to mitigate the impact of stifling inflation.

Elon Musk’s wealth shrinks below $200 billion amid sexual harassment scandal

Recall that Legit.ng reported that the world’s richest man, Elon Musk has seen his wealth plunge below $200 billion following $10 billion loss as selling pressure piles on Tesla stocks.

Elon Musk was worth about $193 billion after Tuesday, May 24 2022, trading, Bloomberg Billionaire’s Index says.

A regulatory filing of April 2022, shows that Musk owns 16 per cent of Tesla. About 92.9 million Tesla common stocks are included in his net worth, Bloomberg says.

Source: Legit.ng

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