Dangote’s Wealth Rises By $104m, As Musk Remains World’s Richest Man

Chairman of Dangote Group, an industrial conglomerate and the wealthiest person in Africa, Aliko Dangote’s wealth has increased by $104 million, culminating in a net worth of $17.9 billion as at 23 September, 2021, according to latest Bloomberg world billionaire index.

Dangote maintained his lead on the continent as the richest African man, ranking number 109th in the world.

The chart is led by United States based Elon Musk who maintained the world’s richest person with a net worth of $203 billion. His wealth increased by $33.7 billion within the last one year.

Musk is the chief executive officer of Tesla, a maker of electric vehicles. The Palo Alto, California-based company sells sedans, sport utility vehicles, and is the state’s largest automotive employer. He’s also the chief executive of SpaceX, a rocket manufacturer tapped by NASA to resupply the space station.

Musk is followed by another United States billionaire, Jeff Bezos who took the second position with $196 billion by having his wealth increased by $5.30 billion; while Bernard Arnault and Bill Gates are on the third and forth positions respectively with $161 billion and $134 billion net value in that order.

Bezos is the founder of both Amazon, the world’s largest retailer, and Blue Origin. With an estimated net worth of $177 billion, he is the second richest person in the world.

Dangote, Africa’s richest person controls Dangote Industries, a closely held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N891.7 billion ($2.5 billion) in 2019. It also has interests in sugar, salt, oil, fertilizer and packaged food.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.

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.

Dangote was the only Nigerian on the list of the top 500 billionaires that was released on the website of Bloomberg yesterday.
Africa’s richest man, with his improved worth of $17.9 billion, controls Dangote Industries, a closely-held conglomerate.