![Aliko Dangote](/content/images/size/w1304/format/webp/wp-content/uploads/2023/08/whatsapp-image-2023-08-14-at-13.30.19-1-e1709297366519.jpg)
Refinery owned by Africa’s richest man to generate $27-billion annual revenue
The complex will initially focus on producing diesel, aviation fuel, and gas, with petrol production planned for a later stage.
The complex will initially focus on producing diesel, aviation fuel, and gas, with petrol production planned for a later stage.
American billionaires David Rubenstein and Bill Conway are not the only heavyweights participating in this venture.
Despite these delays, Dangote’s fortune has witnessed a remarkable surge, catapulting him back among the world’s top 100 billionaires.
Finalized in a private transaction, the deal marks a significant step for Richemont.
Rupert holds a 24.9-percent stake in Reinet Investments, contributing to his status as Africa’s richest man.
The substantial $800-million loss in Rupert’s wealth can be directly attributed to the recent decrease in the market value of his 9.14-percent stake in Richemont.
Rupert, Africa’s wealthiest individual, holds a 6.87-percent stake in Remgro, valued at more than $357.2 million.
Although Forbes estimates Dangote’s fortune at $10.8 billion, Bloomberg estimates present a slightly different picture.
Dangote owns several valuable, privately-held, unquoted companies that add hundreds of millions of dollars to his wealth.
Dangote Cement is Africa’s largest cement producer.
Dangote Group is poised to cement its position as the second-largest employer of labor in Nigeria.
Dangote’s 86-percent stake in his cement company is worth $8.64 billion.
None of Dangote Cement’s directors will take part in the share buyback program.
Dangote Cement is finding it hard to outdo its performance last year.
Aliko Dangote is the world’s richest Black person.
Zambian Commerce and Industry Minister Chipoka Mulenga made the declaration over the weekend.