Home » Africa’s wealthiest man Aliko Dangote sees net worth rise by $1.4 billion in 2021

Africa’s wealthiest man Aliko Dangote sees net worth rise by $1.4 billion in 2021

by Mfonobong Nsehe

Africa’s richest man Aliko Dangote has recorded a $1.4-billion boost in his net worth since the start of the year, as an increase in the valuation of his cement and salt businesses translated into a significant bump in his personal wealth above the $19-billion mark.

Dangote, who is the wealthiest Black man alive, has amassed a staggering $19.2-billion net worth through his manufacturing conglomerate, Dangote Group, which he founded in 1981 as a trading enterprise.

Research conducted by Billionaires.Africa revealed that the Nigerian billionaire has seen his net worth increase by 7.8 percent since the start of the year from $17.8 billion on Jan. 1 to $19.2 billion as of the time of writing.

This translates to a total net worth gain of $1.4 billion for the billionaire and an average gain of $4.53 million per day since the beginning of the year.

The growth in his net worth this year lags behind the wealth increase of South African billionaire Johann Rupert, who has seen his net worth rise by more than $2 billion in 2021.

The year-to-date gain in his net worth can be linked to an increase in the market value of his stake in his cement business, Dangote Cement Plc, and a marginal gain in the value of his stake in NASCON Allied Industries Plc, Nigeria’s largest salt-processing company.

Since the start of the year, Dangote’s cement business has reported a total revenue of N1.022 trillion ($2.49 billion), up from the revenue of N761.44 billion ($1.85 billion) that was reported in the corresponding period of 2020, and a profit of N278.3 billion ($677.6 million) compared to the N208.7 billion ($508.1 million) in profit that was posted last year.

His salt- and sugar-processing businesses have also posted profits of N2.42 billion ($5.9 million) and N15.51 billion ($37.7 million) since the beginning of the year, respectively.

His net worth makes him the richest Black man alive and the 102nd wealthiest man in the world.

Dangote derives nearly 50 percent of his net worth from his 86-percent stake in Dangote Cement, Africa’s largest cement producer. He also controls Dangote Industries, a closely held conglomerate with interests in sugar, salt, oil, fertilizer and packaged foods.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.