Rabiu Rejoins Dangote in Bloomberg's Rich List, Overtakes Over 200 Powerful Billionaires
- After months of absence, Abdul Samad Rabiu, chairman of BUA Group, has rejoined Bloomberg’s list of the world’s 500 richest billionaires
- Rabiu is enjoying a strong 2025 as his net worth has increased by over $5 billion this year, surpassing Dangote
- The rise in his net worth is due to the strong market performance of BUA Cement and BUA Foods
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Abdul Samad Rabiu, Nigeria's second-richest businessman and chairman of BUA Group, has returned to Bloomberg's Billionaires Index of the world's 500 wealthiest individuals.
His comeback follows a sharp rise in his net worth, which has increased by $5.67 billion so far in 2025.
Source: Getty Images
Rabiu rejoins the Bloomberg index
According to Bloomberg, Rabiu’s net worth stands at $8.82 billion as of Thursday, November 6, 2025.
He is currently ranked as the 395th richest man in the world, overtaking more than 200 other billionaires on the global list.
Rabiu is the founder and chairman of BUA Group, one of Nigeria's largest industrial conglomerates.
BUA group subsidiary, BUA Cement, is the country’s second-largest cement producer, while BUA Foods, in which he holds a 93% stake, operates Nigeria’s largest pasta and flour plants.
Since its listing on the Nigerian Exchange, BUA Foods’ share price has surged by more than 400% in less than two years and is currently one of the most valuable companies in Nigeria.
Other Africans on Bloomberg’s Billionaires Index
There are seven African billionaires on Bloomberg’s list of the top 500 wealthiest people in the world.
Aliko Dangote from Nigeria leads as the wealthiest person in Africa, with a net worth estimated at $30.5 billion, and 73rd in the world.
Johann Rupert and family from South Africa are next on the African list, with a total wealth of $17.7 billion, ranking 146th in the world.
The Rupert family's wealth comes from luxury goods and investment in Richemont.
Another South African, Nicky Oppenheimer, is ranked 220th, with a net worth of $13.5 billion. He earned his fortune through a stake in De Beers, a diamond company.
Natie Kirsh from South Africa is ranked 346th with a fortune of $9.80 billion.
Source: Getty Images
Egypt Naguib Sawiris and Nassef Sawiris are also on the list with wealth of $9.73 billion and $9.12 billion, ranked 351st and 382nd, respectively.
Finally, Abdul Samad Rabiu from Nigeria is ranked 395th with a net worth of $8.82 billion.
BUA Foods Plc reached a new 52-week high
Earlier, Legit.ng reported that BUA Foods Plc reached a new, and maintained its highest valuation rating, outperforming MTN Nigeria, Airtel Africa, and other members of the trillion valuation gang on the local bourse.
Investor confidence in BUA Foods’ future profitability and anticipation of dividend payouts boosted trading activity in the consumer goods stock.
A total of 18 billion BUA Foods shares exchanged hands on the local bourse, valued at N10.62 billion the company’s highest trading volume in the past 12 months.
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Source: Legit.ng
