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Aliko Dangote

Dangote Now World’s 64th Richest Person After Gaining $5bn In 24 Hours

Aliko Dangote, President of the Dangote Group, has been ranked as the 64th richest person in the world, according to a finance publication.

According to Bloomberg Billionaires Index, which is compiled by Bloomberg, a US-based financial and media company, Dangote rose to the 64th position with an estimated worth of N6,020,820,000 ($16.6 billion).

His significant rise from his previously ranked 103rd position occurred after the billionaire gained a fortune of $5.8 billion on Tuesday alone.

The index, which is a ranking of the world’s 500 richest people, revealed that Dangote’s net worth declined from $10.5bn at the end of 2018 to of $9.63bn on January 1, 2019.

It, however, rebounded to $10.8bn on Monday.

Dangote’s net worth also increased by 23 per cent from $13.5bn to $16.6bn, on Tuesday, the index indicated.

“Dangote controls Dangote Industries, a closely held conglomerate. The Lagos-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N805.6bn ($2.4bn) in 2017. It also has interests in sugar, salt, flour, fertiliser and packaged food,” the index read.

The entrepreneur was named Africa’s richest man for the eighth consecutive year by Bloomberg and was the only Nigerian on the list of the top 500 billionaires globally. 

Top on the list of world billionaires is Jeff Bezos, Founder of Amazon, who retains his position with an estimated net worth of $136 billion; Bill Gates, Founder of Microsoft, remains second with a net worth of $98.4 billion; while Warren Buffett, a business investor, is third with $83 billion.

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