Bloomberg, on Tuesday released its daily top billionaire index, showing that Aliko Dangote, President of the Dangote Group recorded a wealth of $15.6bn to remain Africa’s richest man yet for the 12th consecutive year, despite the volatility of Nigerian currency against the US Dollar.
He also was the only Nigerian on the year 2023b list of the top 500 billionaires’ list, ranking ahead of South Africa’s Johann Rupert and family who’s worth was put at $13.3bn, while Nicky Oppenheimer, also of South Africa is worth $9bn.
Also among the only five Africans on the Bloomberg Billionaires Index, a daily ranking of the world’s richest people that made the list, were Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris, valued at $7.47bn, $7.37bn, and $5.93 billion respectively.
In calculating net worth, Bloomberg News, according to a statement, strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.
Dangote controls Dangote Industries, a closely-held conglomerate with controlling stake in sub-Saharan Africa’s biggest cement producer- Dangote Cement, as well as in sugar, salt, fertiliser and packaged foods.
Dangote also recently commissioned its $19bn petroleum refinery plant, which is now the Africa’s largest refinery.
The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. Dollars at current exchange rates.
On the global list of billionaires, Ellon Musk and Bernard Arnault were the richest in the world with $219bn and $194bn respectively in their kitties, followed by Jeff Bezos and Bill Gates respectively with $151bn and $130bn. Larry Ellison was the fifth richest, also with $130bn on the world’s billionaires’ chart.