Who Is The Most Richest Person In Africa

Who Is The Most Richest Person In Africa – Due to market forces and sometimes economic anomalies, the playing field in which billionaires appear is volatile and often arbitrary.

It is not funny to hear that a billionaire loses tens of billions of dollars one week and makes tens of billions the next.

Who Is The Most Richest Person In Africa

Who Is The Most Richest Person In Africa

For context, the world’s richest man reportedly lost $24 billion and $15 billion in volatile stock prices in the last 30 days alone. But there is one constant that his net worth cannot be lower than it would be assuming his business retains its market power.

Aliko Dangote, The Richest Man In Africa

With that in mind, Bloomberg regularly publishes lists of the world’s richest people, and here are the five richest people in October 2022.

The list also includes each individual’s most recent decline or increase in earnings, as well as year-to-date (YTD) data showing how much the individual has lost or gained since the beginning of the year.

Aliko Dangote ($18.5 billion): He is the richest man with a current net worth of $18.5 billion. His year to date is -$572 million and his current loss is $64.4 million. He is a Nigerian businessman who is 71st on the list of richest people in the world.

Johann Rupert and family ($8.71 billion): The South n family, ranked 206 on the Bloomberg Billionaires Index, currently has a net worth of $8.71 billion. The family has a net income of -$3.24 billion year to date and a current margin of $278 million. The family has a varied business portfolio

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Nicky Oppenheimer ($7.93 billion): The $7.93 billion southern mining magnate recently reported a loss of $75 million. With a net worth of $25 million today, he is currently ranked 237th on the list of the world’s richest people. In June, Nicky was the second richest person, ahead of John Rupert and his family.

Nathan Kirsh ($7.21 billion): The Southern-born entrepreneur currently has a net worth of $7.21 billion. He is on the winning side with a profit of $64.5 million. With a net worth of -$1.06 billion since the beginning of the year, he ranks 273rd on the list of the richest people in the world. In June, he was the eighth richest person on the continent.

Nassef Sawiris ($6.44 billion): Another businessman on the list, this Egyptian billionaire has a net worth of $6.44 billion. Despite a recent win of $152 million, his year to date is $56 million. He is the 320th richest person in the world.

Who Is The Most Richest Person In Africa

Chinedu Okafor Chinedu is a senior reporter for Business Insider with 5 years of experience creating engaging and insightful content.

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Thank you for subscribing to our daily n-economy newsletter. We bring you daily editors’ picks of the best Business Insider news content to stay on top of the latest topics and conversations about markets, leaders, careers and lifestyle. Join us on all our other channels too – we love to connect! Aliko Dangote, the visionary president of the Dangote Group, is once again the richest individual with a staggering net worth (BBI) of $15.6 billion, according to the Bloomberg Billionaires Index.

Dangote’s continued reign on the billionaire stage has endured despite the volatility of the Nigerian currency against the dollar. This latest accolade marks his 12th consecutive year as the richest man.

Dangote’s fortunes took a big hit earlier this month when Nigeria’s central bank imposed operating charges on the foreign exchange market. The subsequent depreciation of the naira against the dollar took a toll on the Nigerian billionaire’s net worth.

So Dangote, together with the likes of BUA Cement’s visionary founder Abdul Samad Rabiu and Globacom Limited’s dogged chairman Mike Adenuga’s accumulated wealth are facing huge losses.

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Dangote’s financial empire has its roots in the Dangote Industries Group based in Lagos, Nigeria. The crown jewel of his business is the Dangote Cement Company, the largest cement producer in sub-Saharan Africa. Its influence extends to industries such as sugar, salt, fertilizers, packaged foods and most recently the commissioning of a $19 billion oil refinery (by far the largest).

In addition to his unparalleled business success, Dangote has received worldwide recognition for his philanthropy. Founded in 1981, his Aliko Dangote Foundation (ADF) works to promote social change through strategic investments in health, education, economic empowerment and humanitarian aid. Dangote recently donated $1.25 billion to the foundation, confirming its philanthropic commitment and status as the largest private foundation in sub-Saharan Africa.

While Dangote’s wealth reigns supreme, other high-profile billionaires have also made their mark on Bloomberg’s exclusive list. Southern Johann Rupert and his family have amassed a net worth of $13.3 billion, cementing their place among the financial elite. They are followed by Nicky Oppenheimer, Nassef Sawiris, Natie Kirsh and Naguib Sawiris with a net worth of $9 billion, $7.47 billion, $7.37 billion and $5.93 billion respectively.

Who Is The Most Richest Person In Africa

The Bloomberg Billionaires Index remains a trusted source for monitoring personal wealth, providing transparent calculations based on market dynamics, economic fluctuations and accurate Bloomberg reporting. The index, which is updated daily, reflects the closing prices of listed companies, values ​​stocks and converts them to US dollars at current exchange rates.

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Aliko Dangote’s continued success and his commitment to business and philanthropy is a testament to his financial potential. His entrepreneurial achievements and change initiatives contributed to the region’s growth, making him a prominent figure in the business world.

Thank you for subscribing to our daily n-economy newsletter. We bring you daily editors’ picks of the best Business Insider news content to stay on top of the latest topics and conversations about markets, leaders, careers and lifestyle. Join us through all our other channels too – we love to connect! Aliko Dangote (List) GCON (born 10 April 1957) is a Nigerian businessman and industrialist. He is best known as the founder, chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa. The Bloomberg Billionaires Index estimates his net worth at $17.8 billion as of June 2023, making him the richest man in Africa, the richest black man in the world, and the 94th richest person in the world.

Dangote was born on 10 April 1957 into a wealthy Hausa Muslim family in Kano, British Nigeria.

His mother was the great-granddaughter of Alhassan Dantatu, who died in 1955, the richest man in West Africa. Dangote’s brother Sani (1959/60–2021) was also a businessman.

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The Dangote Group was established in 1977 as a small trading company and in the same year, Dangote moved to Lagos to expand the company.

Dangote secured a loan of ₦500,000 from his uncle and started trading in commodities including bags of cement and agricultural products such as rice and sugar.

In the 1990s, he approached the Ctral Bank of Nigeria in the hope that the bank would allow his transport company to manage its fleet of staff buses at a lower cost, and the proposal was approved.

Who Is The Most Richest Person In Africa

Today, the Dangote Group is one of the largest conglomerates in Africa with international operations in Binnes, Ghana, Zambia and Togo. Dangote Group has transformed from a trading company to the largest industrial group in Nigeria with divisions such as Dangote Sugar Factory, Dangote Cement Factory and Dangote Flour Mill.

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The Dangote Group dominates the Nigerian sugar market and its refining operations are the main supplier (70% of the market) to the country’s soft drinks companies, breweries and confectioneries. The company has more than 11,000 employees in West Africa.

In July 2012, Dangote approached the Nigerian Ports Authority to lease an abandoned land in Apapa Port, which was approved.

He later built facilities for his sugar company there. It is the largest refinery in Africa and the third largest in the world, producing 800,000 tons of sugar per year. The Dangote Group owns salt and flour mills and is a major importer of rice, fish, pasta, cement and fertilizers. The company exports cotton, cashew nuts, cocoa, sesame and ginger to several countries. In addition, it has invested heavily in real estate, banks, transport, textiles and oil and gas.

In February 2022, Dangote announced that it would build a Peugeot assembly plant in Nigeria in partnership with the Stellantis Group, a subsidiary of Peugeot, and the governments of Kano and Kaduna states. Dangote Peugeot Automotive Nigeria Ltd’s (DPAN) new factory in Kaduna commences operations with the launch of the Peugeot 301, 508, 3008, 5008 and Landtrek models.

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On May 22, 2023, the Dangote refinery in Lekki, Nigeria became operational. The facility plans to export surplus gasoline, turning Africa’s largest oil producer into an export hub for petroleum products. Dangote, who financed the construction of the refinery, said the company also plans to export diesel. The refinery is located on 2,500 ha in the Lekki Free Trade Zone in Lagos State. It is supplied with crude oil from the world’s largest undersea pipeline infrastructure, 1,100 kilometers (680 miles) long. When fully operational, it will support 135,000 permanent jobs in the region.

According to reports, Dangote’s personal wealth increased by $9.2 billion in 2013.

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