Africa’s Wealthiest Business Mogul Aliko Dangote, Now 97th Richest Man Worldwide

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The 2021 commenced with business uncertainty for Aliko Dangote but he speculated to crown it with light at the end of the tunnel on December 24, 2021, when his business generated in addition $19.3 billion ahead of Christmas.

The sudden blow up in profit to the tune of an extra $48.2 million(N19.8bn)on his business has shot Dangote to the 97th man in the food chain of Richest men worldwide according to Bloomberg. Bloomberg reports that his companies which make up a third of Nigeria’s total public market value increased his wealth on Friday, December 24 by 0.03%.

With the gain, Dangote’s wealth from January to December has reportedly increased from $1.49 it stood on Wednesday, December 23 to $1.54 billion Friday, 24 December as published by the Bloomberg Billionaires Index.

With the gain, Dangote’s wealth from January to December has reportedly increased from $1.49 it stood on Wednesday, December 23 to $1.54 billion Friday, 24 December as published by the Bloomberg Billionaires Index. He remains the only Nigerian on the list reported by Bloomberg.

Most of Dangote’s wealthiest came from his 86% share in Dangote Cement, which is publicly listed. He owns the corporation both individually and via his conglomerate, Dangote Industries. Other publicly listed assets owned by Dangote include Dangote Sugar, Nascon Allied Industries, and United Bank for Africa. His investments in publicly traded corporations are owned both personally and through Dangote Industries, which also holds tightly held enterprises in the food, fertilizer, oil, and other industries.

His most valuable closely held asset is a fertilizer plant with the capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG. The valuation was confirmed by outside analysts.

Should Dangote’s $19 billion oil refinery be completed his wealth is surely expected to increase even further.

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