The significant boost in Dangote’s wealth can be attributed to the commencement of operations at his newly built petrochemical refinery in Ibeju-Lekki, Lagos, which is valued at over $20 billion.
The refinery now produces petrol, diesel, and jet fuel, positioning Nigeria toward energy independence. This monumental industrial project is recognised as the largest single-train refinery globally and is set to reduce Nigeria’s dependence on imported fuel drastically.
According to Bloomberg, his net worth increased from $14 billion in 2022 to $28 billion, moving him up from 83rd to 65th place in the world.
Using the most recent market data and values, the Bloomberg Billionaires Index ranks the richest people in the world every day, tracking changes in their wealth.
Other Africans on the list include Nicky Oppenheimer, who is ranked 224th with $11.6 billion, and Johann Rupert, who is ranked 174th with $13.6 billion, although Dangote is still untouchable on the African continent.
Nassef and Naguib Sawiris of Egypt were also included; the former came in at 302nd place with $9.16 billion, while the latter came in at 407th place with $7.37 billion.
Elon Musk continues to lead the world.
American tech giants continue to monopolise the top rankings worldwide. Elon Musk has a whopping $242 billion, followed by Jeff Bezos, the creator of Amazon, at $210 billion, and Mark Zuckerberg, the founder of Facebook, at $204 billion.
Dangote’s charitable endeavours have been just as remarkable as his commercial accomplishments. Richtopia, a digital magazine published in the UK, recently listed him as one of the world’s leading philanthropists.
His large bequest to the Aliko Dangote Foundation, which has already increased to $1.25 billion, is the reason for this honour.
In sub-Saharan Africa, the Dangote Foundation has prioritised economic empowerment, health, and education since its founding in 1981.
Since its incorporation in 1994, it has grown to become the continent’s largest private foundation, dedicated to health and nutrition, alongside education and humanitarian support.
Aliko Dangote continues to solidify his position as a transformative figure in business and social development across Africa.
