Aliko Dangote, a business mogul and philanthropist, has saw a notable increase in his net worth. Bloomberg’s real-time billionaire index indicates that the CEO of the influential Dangote group has amassed wealth over $20 billion.
Dangote’s year-to-date (YTD) change is an astounding +$6.91 billion, according to the index, with his most recent valuation change coming in at +$282 million.
Dangote’s year-to-date gain (YTD) surpasses that of Jeff Bezos, whose YTD change during the reviewed period was +4.92 billion, Warren Buffett, whose YTD change was +$6.31 billion, and Bill Gates, whose YTD change was +$1.62 billion.
After Johann Rupert of South Africa, who was valued at $10.3 billion at the beginning of the year, Dangote was the second richest man in Africa with $9.5 billion.
But as the month went on, Dangote’s billion-dollar net worth continued to rise, reaching a double-digit figure before leveling off at about $14 billion, solidifying his position as the richest person on the continent. But before the month is over, Dangote has crossed the $20 billion threshold, marking yet another noteworthy achievement.
The remarkable success of the Dangote Cement Company, which became the first Nigerian company to achieve the N10 trillion market cap, is credited for this sharp increase in net worth.
His fellow Nigerian billionaire, Femi Otedola, was drawn to the cement company and bought a sizable portion of the business.
Dangote Cement has surpassed Airtel Africa, which is valued at N7.5 trillion, to become the largest company in Nigeria with a market capitalization of N10.09 trillion.
Furthermore, a number of investors have expressed interest in Dangote’s recently constructed oil refinery, placing large bets on the plant’s potential to control Africa’s oil supply. As of present now, almost fifteen thousand stations have obtained the distribution rights for petroleum products that are distilled in the billionaire’s refinery.
The twenty-five billion The largest refinery in Africa, Dangote, can handle 650,000 barrels a day. Its daily production targets are 100,000 barrels of gasoline and diesel combined, and 250,000 barrels of gasoline. By 2022, fuel self-sufficiency might be achieved and the $26 billion spent on petroleum imports could be decreased thanks to these outputs.
The Dangote refinery, which can produce 27 million liters of diesel, is also expected to deliver 11 million liters of kerosene and 9 million liters of jet fuel. Crude is sourced from a number of Nigerian producers, including the Nigerian National Petroleum Corporation (NNPC).