Dangote rakes in N460BN in 24 hours, overtakes 4 billionaires

Dangote raked in N460BN in 24 hours and in the process, overtook two Russians, one Chinese, and an Indian on the billionaires’ list.

According to the Bloomberg Billionaire Index on Monday, 20th of March 2023, Africa’s richest man and Chairman of Dangote Group have remained Africa’s richest man for 12 consecutive years, with a net worth of $19.7 billion.

The fortune came from increased demand for Dangote Cement in Africa and it created an opportunity not only to fatten his account by $100 million but displace fellow billionaires.

Dangote maintains a majority share at his Cement company, following the company’s announcement of a significant share buyback two weeks ago.

He is ranked 83rd on the billionaire index, ahead of two Russians, Alexey Mordashov and Alisher Usmanov.