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    Dangote Retains Africa’s Richest Man Status With $12.2b Net Worth


    BEVERLY HILLS, January 12, (THEWILL) – President of Dangote Industries Alhaji Aliko Dangote has retained his status as Africa’s richest man with a net worth of $12.2billion, (N4.3 trrillion @ 1$=N360)

    This is an increase of $100 million from his worth when the assessment was done by the Forbes magazine last year and Dangote has now been named the continent’s richest man for seven straight years.

    Dangote is also the only African selected among Bloomberg’s world 50 best persons in 2017.

    “The richest African, for the seventh year in a row, is Nigerian cement and commodities tycoon Aliko Dangote, with a net worth that Forbes pegs at $12.2 billion. That’s up $100 million from a year ago,” the Forbes report read.

    “Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery.

    “Dangote Fertiliser is expected to start operations in the second quarter this year.”

    Following after Dangote in the African rich list is diamond mining heir Nicky Oppenheimer of South Africa ($7.7 billion) up $700 million last year.

    Other Nigerians on the 23-man African list are Globacom Chairman Mike Adenuga ($5.3 billion) adjudged the fifth richest in Africa and Mrs Folorunsho Alakija ($1.6 billion) rated the 15th richest in Africa.

    The list has nationals from a total of eight African countries. South Africa has eight, six are from Egypt, three from Nigeria, two from Morocco and one each from Algeria, Angola, Tanzania, and Zimbabwe.

    Meanwhile, Bill Gates is the richest in the world with a net worth of $86 billion followed by Warren Buffet ($75.6b) and Jeff Bezos ($72.8 billion).

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