According to Bloomberg, the majority of his fortune is derived from his 86 percent stake in publicly traded Dangote Cement.
Forbes has named Aliko Dangote as the richest person in Africa just days after he was dethroned.
This is according to Forbes Real-Time Billionaires.
The ranking, which provides ongoing updates on the net worth and ranking of each individual confirmed to be a billionaire, showed that Dangote’s net worth improved by $10 million to $10.1 billion as of January 8, 2024.
He overtook Johann Rupert, South African luxury goods tycoon and his family. Rupert’s net worth as at January 8 was $10 billion, down from $10.7 billion as at December 30, 2023.
Dangote, who is the CEO of Dangote Group, now ranks 191st globally while Rupert and his family at 197th.
The Bloomberg Billionaires Index also ranks Dangote as the richest person in Africa.
According to Bloomberg, the majority of his fortune is derived from his 86 percent stake in publicly traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Industries.