NAIRAMETRICS
Aliko Dangote, the business magnate behind the $20 billion refinery in Nigeria’s business capital, has seen his wealth decrease by more than $1 billion this year.
This decline is mainly due to the steep fall in the naira’s value and recent moderation in the value of his equity holdings.
Bloomberg data shows that Africa’s richest man is ranked 145th on the list of the world’s wealthiest individuals.
In addition, Dangote is the only Nigerian-born billionaire among the top 500 richest people globally. The 67-year-old industrialist is also recognized as the richest Black man on earth.
He remained Africa’s richest person for 12 consecutive years and ended the year with a net worth of $13.9 billion. Bloomberg Billionaires Index data reveals that the Kano-born billionaire’s wealth dropped by $1.17 billion. However, the refinery business has not yet been added to his valuation.
According to the most recent SEC documents, he holds at least 86 percent of the publicly traded company Dangote Cement. With a yearly manufacturing capacity of 48.6 million metric tons, the cement giant is Nigeria’s most valuable company, with a market valuation of N10.1 trillion. Shares in NASCON Allied Industries, Dangote Sugar, and the United Bank for Africa are among Dangote’s other publicly traded holdings.
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