4 Interesting New Facts about Dangote as He Leads Africa's Richest List for the 11th Year in a Row
For the 11th year in a row, Nigeria's business magnate, Aliko Dangote, retained the number one spot on Africa's exclusive wealth list quite unsurprisingly.
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According to the recent release by Forbes, a 30% increase in the stock price of Dangote cement which was a result of a surge in housing developments in Nigeria as well as a growth in government infrastructure spending contributed to the aforementioned record.
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Legit.ng highlights 4 new interesting facts about the billionaire whose fortune currently sits at $13.9 billion.
1. He can spend N415m for the next 40 years comfortably without working
Dangote's staggering increase in fortune means the billionaire can spend $1million (N415 million) for the next 40 years.
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And he can squander or enjoy the money without working for the next 40 years, a calculation by Business Insider indicates.
2. He has over the years spent at least N415 billion on charity deeds
The 64-year-old Kano-born business magnate is also a great philanthropist.
Business Insider reports that he has touched lives across the continent in various schemes of kind-hearted deeds to the tune of at least $1 billion (N415 billion).
His kind deeds have seemingly not slowed down his wealth which is expected to climb even further.
3. A wealth that swallows the combined GDPs of over 15 African countries
Dangote's wealth at the moment covers the GDPs of more than 15 African countries combined.
This is also expected to widen with his refinery that nears completion.
Business Day highlighted that Dangote is richer than African countries like Malawi, Somalia, Burkina Faso, Liberia, Burundi and many others.
4. His wealth eclipses Africa's rich list number 2 and 3 personalities
Dangote's wealth also surpasses the combined fortunes of the second and third wealthiest personalities in Africa.
Forbes recent release has it that Johann Rupert and family of South Africa and Nicky Oppenheimer of the aforementioned African country came in second and third place respectively.
Dangote would have been 6th on the global billionaire's list if 5% of his wealth were put in Bitcoin
Meanwhile, Legit.ng previously reported how Dangote would have been the 6th wealthiest personality in the world if 5% of his wealth were invested in Bitcoin years ago.
According to Forbes, Dangote ended 2021 at 191st position despite making over $3.2 billion to close the year with $11.5 billion.
2021 position is a massive drop compared to 162th it ended 2020 with N8.3 billion and 136th as at 2019 when he was worth $10.4 billion.
However, Dangote, who gained the majority of his fortune from cement manufacturing through his cement firm, Dangote Cement, would have risen to sixth place if he had put 5% of his fortune in Bitcoin 7 years ago.
Source: Legit.ng
