Dangote Gets New Position as Net Worth Nears $20bn, Rabiu, Adenuga Topple Each Other
- Aliko Dangote has risen to a new position among the world’s wealthiest people after a recent surge in his net worth.
- Dangote is now ranked the 94th wealthiest individual in the world, with an estimated net worth of $19.4 billion
- Also, BUA Group Chairman, Abdul Samad Rabiu, has reclaimed his position as Nigeria’s second-richest person
Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Nigeria’s richest man, Aliko Dangote, has risen among the world’s wealthiest, beating 406 billionaires around the world, according to a recent ranking by the Bloomberg Billionaire Index monitored by Legit.ng.
The Nigerian billionaire’s wealth quickly accelerated in the last seven days, thanks to the outstanding performance of his cement company, Dangote Cement.
Source: Getty Images
Dangote Cement share price rises
Dangote Cement has had a bullish run in the last few days, rising from N319 per share to N538.80.
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Dangote has 86% commanding share in the cement company and is mainly responsible for his meteoric rise in recent days.
He earned a whopping $837 in the last 24 hours as of the time of filing this report.
The Africa’s richest man has seen his net worth rise by $4 billion in January 2024 as his $20 billion refinery began producing diesel and aviation fuel.
Bloomberg Billionaire Index estimates his net worth to be about $19.4 billion, from $17.1 billion in the second week of January.
He is currently ranked 94th wealthiest individual in the world, a position he attained after rising from the 120th position in December 2023.
Rabiu overtakes Adenuga as Nigeria's second-richest man
Similarly, BUA Group Chairman Abdul Samad Rabiu has reclaimed his position as Nigeria’s second-richest man after seeing his net worth increase to $7 billion.
According to Forbes ranking, Rabiu’s net worth rose by $1.5 billion in early 2024, from $5.7 billion as of January 1, 2024, to $7.2 billion.
Rabiu toppled another Nigerian and telecom magnate, Mike Adenuga, who briefly held the position for just nine days, with a net worth of $7.4 billion.
Dangote makes $2bn in 17 days
Earlier, Legit.ng reported that Dangote investors were not the only ones who gained following the incredible performance of Dangote stocks on the Nigerian Exchange Limited.
The president of Dangote Industries, Aliko Dangote, also experienced a surge in his net worth, which grew by $2 billion in 17 days.
This came a few days after the $20 billion Dangote Refinery announced the commencement of diesel and aviation fuel production.
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Source: Legit.ng
