Dangote Named 100th World’s Richest Man

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Businessman Aliko Dangote has been named the hundredth world’s richest man on Forbes’ annual billionaires list. Other Nigerians on the list are telecom mogul Mike Adenuga and oil magnate Folorunso Alakija, who is the only female among the trio so named.

[caption id="attachment_352929" align="alignleft" width="300"] Mike Adenuga[/caption]

Forbes ties Dangote to a net worth of $14.1 billion, an earning that still makes him the richest black man in Africa, and by extension the richest man in Nigeria. Dangote through Dangote Industries Limited (DIL) owns close to 88% of Dangote Cement, which is the biggest company on the Nigerian Stock Exchange (NSE) by market capitalization. In addition, he also holds dominant stakes in Dangote Sugar, Dangote Flour, and NASCON Allied industries.

Moreover, the Nigerian runner’s up on the world’s billionaire list is Mike Adenuga, with a net worth of $6.4 billion. Adenuga is  said to be the 345th richest person in the world, fifth richest in Africa and second richest person in Nigeria. He controls Globacom Limited, one of Nigeria’s 3 largest GSM operators. In addition, he also holds controlling stakes in Conoil Producing, an oil exploration outfit, as well as its downstream arm Conoil Limited. Adenuga also holds significant stakes in Sterling Bank and construction giant, Julius Berger Plc.

The third on the ladder, Folorunsho Alakija, is estimated to worth $1.5 billion. She is believed to be Nigeria’s third richest person, and the 15th richest African. Alakija is Vice Chairman of Famfa Oil, an exploration company which has a stake in the Agbami Oilfield.

[caption id="attachment_352931" align="alignleft" width="300"] Folorunsho Alakija[/caption]

Aside the three Nigerians, Africa has other representatives on the list, comprising seven South Africans, one Algerian, one Angolan, six Egyptians, two Moroccans, one Swazi, one Tanzanian and one Zimbabwean.

The richest of the African group is Elon Musk, a South African. Musk is named the fiftieth richest world’s billionaire with a fortune of $19.9bn.

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