Aliko Dangote has reclaimed his title as the wealthiest individual in Africa, as reported by both Forbes and Bloomberg.
This achievement has resulted in him surpassing South African business magnate Johann Rupert. The Forbes Daily billionaires ranking platform, which monitors the fluctuations in the net worth of the most affluent individuals worldwide, indicates that Dangote’s net worth has increased by $10 billion to reach $10.1 billion as of January 8, 2024.
Consequently, he has surpassed Johann Rupert, the South African tycoon of luxury goods, and his family. Rupert’s net worth currently stands at $10 billion, a decrease from $10.7 billion as of January 30, 2023. Dangote now holds the 191st position on the Forbes list, while Rupert is ranked 197th globally.
Furthermore, Dangote continues to maintain his status as Africa’s wealthiest person according to the Bloomberg Billionaire Index.
Bloomberg highlights that the majority of Dangote’s wealth is derived from his 86 percent ownership in the publicly traded company, Dangote Cement. He possesses these shares both directly and through his conglomerate, Dangote Industries.
Bloomberg said: “Dangote’s other publicly traded assets include stakes in Dangote Sugar, NASCON Allied Industries, and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Industries, which also owns closely held businesses operating in food manufacturing, fertiliser, oil, and other industries.
“His most valuable closely held asset is a fertiliser plant with a capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG. The valuation was confirmed by outside analysts.”
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