Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has been adjudged the richest man in Africa by Forbes.
Mr. Dangote, ranked Africa’s richest with a net worth that Forbes pegged at $12.2 billion, is being so declared for the seventh year running.
The Nigerian billionaire’s net worth recorded an increase of about $100 million from last year.
Similarly, Forbes noted that Bill Gates maintained his position as the richest man in the world with a net worth of $86 billion, while Warren Buffet and Jeff Bezos were second and third consecutively with a net worth of $75.6 billion and $72.8 billion.
“Dangote is looking beyond cement – his most valuable asset – and has been investing in a fertilizer production company and a large oil refinery. Dangote Fertilizer is expected to start operations in the second quarter this year,” Forbes said in its report.
Placed second on the list of African richest people is diamond mining heir, Nicky Oppenheimer of South Africa, with a net worth of $7.7 billion, up $700 million from last year.
While there are eight South Africans on the list, making it the African country with the most billionaires, Nigeria has three.
Earlier, Mr. Dangote had been named the only African selected among Bloomberg’s world 50 best persons in the year 2017.
Although names of notable Nigerians were dropped from the billionaires’ lists, Globacom chairman, Mike Adenuga, with a net worth of $5.3 billion was adjudged the 5th richest man in Africa and Folorunsho Alakija, whose estimated $1.6 billion fortune lies in oil exploration firm was adjudged as the 15th richest person in Africa.
In 2017, South Africa and Egypt tied with six billionaires each on the list.
But boosting the South African ranks this year, is Michiel Le Roux, the founder and former chairman of Johannesburg-listed Capitec Bank Holdings, whose stock has climbed more than 50 per cent in the past year, making Le Roux a new billionaire worth $1.2 billion.
South African mining tycoon, Desmond Sacco, chairman of listed Assore Group, returns to the list following a stock price surge of some 60 per cent in the past 12 months.
Mr. Sacco last appeared as a billionaire on Africa’s richest list in 2012 with a $1.4 billion fortune.
In December 2017, the share price of retailer Steinhoff International plunged after the company divulged accounting irregularities. The development pushed the net worth of Steinhoff’s then-chairman Christoffel Wiese below $1 billion on December 7. Mr. Wiese would later resign as chairman in December.
But the company in early January said it would restate its financial results as far back as 2015 and the share price rebounded enough to put Mr. Wiese back on the list.
According to Forbes’ estimation, his net worth on January 5 was put at $1.1 billion, down substantially from $5.5 billion a year ago.
Telecom magnate Strive Masiyiwa placed Zimbabwe on the list for the first time. Mr. Masiyiwa, who chairs the Econet Group whose shares have surged in value over the past year, owns more than half of the company.
The entrepreneur also has a majority stake in fibre optic firm Liquid Telecom, which raised $700 million in a bond offering in July 2017. According to Forbes estimates, Mr. Masiyiwa’s net worth is $1.7 billion.
Latest Nigeria News
- Thieves On The Chest
- Black Face complains: ''2face owes me money, and he won't pay back''
- Steady rise in prostitution despite ban in Abuja
- Mercy Johnson And Tonto Dike In A War Of Words
- Video Of Nigerian Lawmakers In A Bloody Fight
- Miss Unizik Nude Photos Leaked By Ex-Boyfriend
- Big Boy: Ice Prince Wears Same Givenchy Shirt As P Diddy To BET Awards
- Shameful - Iyanya Tattooed Yvonne Nelson's Name On His Wrist
- 2 Unilag Students Dead, 3 Others Almost Dead After Fatal Car Accident [Photos]
- Omotola Poses For THISDAY Style Photoshoot
- Hot or Not? - Genevieve's Dress To Ebony Life TV Launch
- Celestial Church Prophet Owolere Odunuga Jailed In Kirikiri Over Visa Fraud
- ASUU Embarks on a Total and Indefinite Nation-wide Strike from 1st July
- Super Eagles’ Handler: Keshi or foreign coach?
- 11 Burnt To Death In Ibadan Auto Accident
- Former Nollywood Actress Eucharia Anunobi In Senegal For 7-Day Crusade
- Stephanie Okereke-Linus Bags Africa Women Awards
- Federal Government bans civil servants from taking chieftaincy titles
- Omotola's Waka-Pass Role On American National TV Show
- £3,000 visa bond: Federal Government warns British govt
- First Bank Nigeria Plc Security man breaks ATM, steals N12m
- John Olumba, 31-Year Old Nigerian Running For Detroit Mayor
- Whats up with this picture?
- Why President Barack Obama Is Not Visiting Nigeria
- Most Overexposed Celebrities In Nigeria
- Wizkid Tells Unilag Students: ‘I don’t do cheap money’
- Islamic cleric Rapes Teenager During Deliverance
- Is This A Case Of "Bad" Underwear?
- Police declare Alhaja Sinatu Ojikutu, ex-deputy gov of Lagos State wanted for fraud
- Nigerians support anti same-sex Bill
- Another Baby Born With Quran In Lagos
- Ondo Female Legislator Fola Olasehinde Suspended Over Possession Of Fetish Objects
- Female Student Raped By Security Man And 5 Students At A Private Polytechnic In Ekiti State
- Governor Sanusi Freezes Bank Accounts Of Nigerian Churches
- OAU student gives birth and attempts to flush new born baby down the toilet in school hostel
- Tope Alabi Fights With Spiritual Father, Prophet Ajanaku
- Pressure Mounts On Hubby To Dump Ini Edo
- Keturah Hamilton: Jim Iyke Used And Dumped Me
- Keturah Hamilton: Jim Iyke Used And Dumped Me
- Are Tribal Marks Still Necessary Today?