The Richest Man in Africa: Aliko Dangote
Nigeria’s Aliko Dangote, president of Dangote Cement, has been ranked as the richest man in Africa for the 8th consecutive time. His fortune is estimated at U.S.$14.1 billion.
Dangote made the 2018 Forbes World’s Billionnaire’s list, ranking at #100 out of a record 2,208 billionaires from 72 countries and territories including the first ever from Hungary and Zimbabwe. This group is worth a cumulative $9.1 trillion, up 18% since last year, with an average net worth is a record $4.1 billion.
Jeff Bezos, the American creator of Amazon, tops the list at $112 billion. Shares of his e-commerce giant Amazon rose 59% in 12 months, helping boost his fortune by $39.2 billion. Microsoft cofounder Bill Gates and American Business magnate Warren Buffet round out the top 3 at $90 billion and $84 billion respectively.
The Forbes World’s Billionaires list is a snapshot of wealth using stock prices and exchange rates from February 9, 2018. In addition, they value a variety of assets, including private companies, real estate, art, yachts and more.
Other notable African’s that made the list include South Africa’s Nicky oppenheimer at #202 with $7.7 billion, , Egypt’s Nassef Sawiris at #251 with $6.6 billion and Angola’s Isabel dos Santos ranks at #924 with $2.6 billion. In total, there is a cumulative 21 billionaires from 9 African countries that made the list: Algeria; Angola; Egypt; Morocco, Nigeria; South Africa; Swaziland; Tanzania; and Zimbabwe. Congratulations to all our African billionairres!
About Aliko Dangote
60 Year old Aliko Dangote is the founder and chairman of Dangote Cement, the continent’s largest producer of cement, producing 44 million metric tons annually, with plans to increase its output 33% by 2020. He owns nearly 88% of publicly-traded Dangote Cement through a holding company. Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies. He hold’s a Bachelor of Arts/Science from Al-Azhar University.
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