Africa’s richest man Aliko Dangote no longer among world’s top 100 billionaires

Omokolade Ajayi -

Africa’s richest man Aliko Dangote, who recently re-entered the elite club of the world’s 100 richest billionaires, has seen his net worth slump below the $16-billion threshold, exiting this prestigious group.

Dangote’s fortunes have fluctuated in recent months, as data from the Bloomberg Billionaires Index reveals a $1.6-billion decline, lowering his net worth from $17.4 billion on Sept. 1 to $15.8 billion at the time of this report.

The $1.6-billion reduction in Dangote’s net worth marks a significant downturn in his financial status after a period of substantial growth between June 25 and Sept. 1, when he saw his net worth rise from $15.1 billion to $17.4 billion.

Presently, with a net worth of $15.8 billion, Dangote is positioned as the 107th wealthiest individual globally, trailing Australian real estate mogul Harry Triguboff, the managing director, and sole owner of Meriton, Australia’s largest apartment developer.

Dangote’s biggest asset remains his $5.98 billion stake in Dangote Cement

Dangote’s biggest asset remains his 86 percent stake in Dangote Cement, the leading cement group that stands as Africa’s largest cement producer with a remarkable annual production capacity of 55 million tonnes.

This cement company serves as the flagship business within the Dangote Industries Limited, Africa’s most diversified manufacturing conglomerate. Its interests span a range of sectors in Nigeria and across Africa.

The market value of his stake in Dangote Cement is valued at $5.98 billion. Beyond his cement empire, Dangote holds a $5.15-billion interest in Dangote Fertilizer, a state-of-the-art fertilizer plant that can produce up to 2.8 million tonnes of urea annually.

In addition to his holdings in the cement and fertilizer industries, Dangote owns a 72.7-percent stake in Dangote Sugar Refinery, with a current valuation of $683 million. He also maintains a 66.5-percent stake in NASCON Allied Plc, a leading salt processing company presently valued at $115 million.

Dangote’s diversified business interests have played a vital role in his financial journey, and despite his recent dip below the $16-billion benchmark, his prominence as a business magnate in Africa remains resolute.