editor
Nigerian business magnet, Aliko Dangote, whose fortune rose $400 million to $13.9 billion in the latest Forbes rankings, giving him the ranking’s first spot for the 13th year in a row, has seen his net worth rise to $22 billion, experiencing the fastest increase in years.
Dangote Cement’s shares have more than doubled this month helping add $6.9 billion to its founder’s wealth, which jumped to $22 billion as of Thursday, according to the Bloomberg Billionaires Index.
The development comes as billionaire and Nigeria’s fourth richest man, Femi Otedola, made a significant share acquisition of the Dangote Cement.
The $6 billion earned by Dangote has seen him rise from 122nd position to 82nd on the global wealthiest list in just over three weeks, out-earning Microsoft founder Bill Gates, who earned about $1.6 billion in January and was once the world’s richest person. Gates is now ranked 6th with $119.9 billion net worth.
This year, Dangote Cement became Nigeria’s most valued brand, surpassing Airtel Africa.
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