Aliko Dangote, President of Dangote Group, has leapt 26 places to emerge as the 72nd richest man in the world, according to the latest data from Bloomberg’s Billionaires’ Index.
His wealth is now estimated to be worth over $20.4 billion, the data says.
Aliko Dangote now 72nd richest man in the world Credit: Pius Utomi
Africa’s richest man has maintained the top spot in the continent for eleven years in a row. He is the only African billionaire to make the 100 lists of the 500 richest people in the world.
Dangote’s source of wealth
His wealth is believed to come from his 86 per cent share in Dangote Cement.
Bloomberg says the Kano-born billionaire ranked 97th richest person in the world in January 2022, with a net worth of $19.2 billion.
Overtakes several Russian billionaires
He overtook Russian billionaire and owner of Chelsea Football Club, Roman Abramovich, now ranked 132nd richest man on the list.
Dangote commissioned Dangote Fertilizer Plant in March which is estimated at $2.5 billion, with three million metric tones production capacity of urea per year.
It is believed that the net value of the fertilizer plant may have boosted his net worth, placing him in the 72nd position.
His fortune has continued to climb since April 2022 with reports from Bloomberg saying that his wealth is now about $20.4 million troy ounces of gold.