THE CABLE
The number of Nigerian billionaires on the Forbes list has increased to four after the wealth-tracker included Femi Otedola, the chairman of Geregu Power.
According to the Forbes Billionaire Index sighted on Thursday, Otedola, who fell below the billion-dollar mark in 2017, occupied the fourth position behind AbdulSamad Rabiu, Mike Adenuga and Aliko Dangote.
As a result, the total wealth held by the four Nigerian billionaires now stands at $29.10 billion — 28 percent of the $103.70 billion the listed 20 African billionaires are valued.
At six, South Africa has the highest number of billionaires, followed by Egpyt (five), Nigeria (four), Morocco (two), and one each in Algeria, Tanzania, and Zimbabwe
NIGERIAN BILLIONAIRES’ NET WORTH AND SOURCE OF WEALTH
ALIKO DANGOTE
Dangote, valued at $14.3 billion, is the richest person in Nigeria and Africa. The billionaire who has held the position since 2012 is ranked 132 in the world.
Dangote, who was once valued at $25 billion in 2014, has seen his net worth fluctuate over the years, resulting in Johann Rupert, a South African businessman briefly taking his number one spot on June 15, 2023, and January 4, 2024.
The 66-year-old investor made his fortune largely from cement production, through Dangote Cement, as well as his sugar and fertilizer businesses, amongst other investments.
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