Home » Africa’s richest man Aliko Dangote makes $800 million in 10 days

Africa’s richest man Aliko Dangote makes $800 million in 10 days

Naira's rebound propels Dangote to 113th spot among global billionaires

by Omokolade Ajayi
Aliko Dangote

After seeing his net worth dip below the $15.5-billion mark just ten days ago, Aliko Dangote, Africa’s wealthiest individual, has experienced a notable resurgence, surpassing the $16-billion mark.

This rebound not only solidifies his standing as the continent’s richest person but also reaffirms his status as the world’s wealthiest Black individual.

According to data tracked by the Bloomberg Billionaire Index — which monitors the fortunes of the world’s richest individuals — Dangote has recorded an impressive $800 million surge in his net worth over the past 10 days — from $15.4 billion on Nov. 14 to $16.2 billion on Nov. 24.

Naira’s rebound propels Aliko Dangote to 113th spot among global billionaires

The $800-million bump in his fortune — consolidating his position among the global elite billionaires — can be attributed to the recent revaluation of his extensive industrial assets.

The Nigerian naira, in which all his assets are denominated, regained value on the official market after reaching a record low of 844 naira per dollar on Nov. 15; it currently trades at N805/$1.

With his net worth now pegged at $16.2 billion — paring his year-to-date wealth losses to $2.47 billion — Dangote ranks as the 113th richest person globally, trailing Stan Kroenke, an American billionaire and owner of the Los Angeles Rams football team.

Market mastery: Aliko Dangote’s strategic holdings in cement, fertilizer, sugar, and salt

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 Dangote Industries Limited, Africa’s most diversified manufacturing conglomerate, spanning various sectors in Nigeria and across the continent.

The market value of his stake in Dangote Cement is currently estimated at $6.42 billion. Beyond his cement empire, Dangote holds a $5.15-billion interest in Dangote Fertilizer — a state-of-the-art plant capable of producing 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, valued at $655 million — he also maintains a 66.5-percent stake in NASCON Allied Plc, a leading salt processing company presently valued at $117 million.

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