By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    Olusegun Obasanjo
    Yoruba Monarchs: Afenifere Condemns Obasanjo’s Stand Up Order
    September 27, 2023
    Francis Nwifuru
    Tribunal Upholds APC’s Francis Nwifuru as Ebonyi Governor
    September 27, 2023
    Peter Afunanya
    DSS Establishes Directorate of Public Relations and Strategic Communications
    September 27, 2023
    Covenant University
    FULL LIST: 2024 Nigerian University Rankings Released, Covenant University Tops
    September 27, 2023
    MC Oluomo
    MC Oluomo Warns NLC Against Interference Amidst NURTW Crisis
    September 27, 2023
  • Entertainment
    EntertainmentShow More
    Naira Marley Addresses Mohbad’s Death, Allegations in Interview (Video)
    September 27, 2023
    Mohbad and Naira Marley
    Mohbad’s Death: Naira Marley Defends Self, Pledges Innocence
    September 26, 2023
    Seun Kuti
    Lack of Access Is Why Some People Criticize Tinubu – Seun Kuti
    September 26, 2023
    Yemi Adeyemi (Suara)
    Veteran Actor Yemi Adeyemi ‘Suara’ Dies
    September 25, 2023
    BBNaija All Stars Finalists: Meet the Top 6 Housemates – How to Vote
    September 24, 2023
  • Business & Economy
    Business & EconomyShow More
    Transcorp Hotels
    Transcorp Hotels Achieves Full Compliance with NGX’s Free Float Requirement
    September 27, 2023
    FG to Collaborate with NGX to Stimulate Startup Listings on Tech Board
    September 22, 2023
    Central Bank of Nigeria (CBN)
    Central Bank of Nigeria Postpones 293rd Monetary Policy Committee Meeting
    September 21, 2023
    Farooq Adedayo Oreagba
    NG Clearing Appoints Farooq Oreagba as Managing Director and CEO
    September 20, 2023
    Abdul Samad Rabiu
    BUA Cement Plans to Reduce Cement Prices from N5,500 to N3,500 – Abdul Samad Rabiu
    September 16, 2023
  • Sport
    SportShow More
    Gennaro Gattuso
    Gennaro Gattuso Named New Coach of Marseille
    September 27, 2023
    Victor Osimhen
    Victor Osimhen Deletes Napoli Posts on Instagram Amidst Controversial TikTok Video
    September 27, 2023
    Quadri Aruna
    Quadri Aruna Clinches Gold at ITTF Championships in Tunis
    September 17, 2023
    Tobi Amusan
    Tobi Amusan Secures Third Consecutive Diamond League Title in 100m Hurdles
    September 17, 2023
    Adekunle Gold Takes Center Stage as Manchester United, Adidas Unveil LFSTLR Collection
    September 12, 2023
  • Tech
    TechShow More
    Google Marks 25th Birthday of Search with Doodle
    September 27, 2023
    YouTube Introduces AI-Powered Features to Empower Content Creators and Artists
    September 21, 2023
    NCC
    NCC Introduces New Numbering Format for Fixed Lines
    September 20, 2023
    Google's Bard now has extensions
    Google’s Bard AI Chatbot Introduces Extensions for Enhanced Collaboration Across Products
    September 20, 2023
    National Coordinator, Office for Nigerian Digital Innovation (ONDI), Yakubu Musa delivering the Director General National Information Technology Development Agency (NITDA), Kashifu Inuwa, Keynote address at the Innovation Support Network (ISN) Gathering 2023.
    Collaboration is Key to Sustainable Innovation, Says NITDA Director-General at ISN 2023 Gathering
    September 18, 2023
Reading: Aliko Dangote Retains Title as Africa’s Richest Man for 12th Consecutive Year
Share
Notification Show More
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Aliko Dangote Retains Title as Africa’s Richest Man for 12th Consecutive Year

Muhammad A. Aliyu By Muhammad A. Aliyu July 11, 2023
Share
6 Min Read
Aliko Dangote
Aliko Dangote
SHARE

Aliko Dangote, the President of the Dangote Group, has once again retained his position as Africa’s wealthiest individual.

This marks the 12th consecutive year that Dangote has emerged as the richest man in Africa, a testament to his business prowess and resilience.

Dangote’s flagship company, Dangote Cement Plc, stands as the largest cement producer on the African continent. Despite economic headwinds, Dangote’s net worth has experienced a significant increase, climbing from $12.1 billion last year to an estimated $14.2 billion this year.

As the only Nigerian listed among the top 200 richest individuals globally, Dangote currently holds the 124th spot, highlighting his remarkable success and influence.

- Advertisement -

Forbes, renowned for its annual ranking of billionaires, recently released its list for 2023, shedding light on the challenges faced by the world’s wealthiest individuals.

Falling stocks, troubled unicorns, and rising interest rates contributed to a decline in overall wealth among billionaires. Nevertheless, Dangote remains a standout figure, both in Africa and globally.

Among the world’s top 200 billionaires, Dangote is not only the sole Nigerian representative but also one of only two Africans in that prestigious bracket.

Joining him is South Africa’s Johann Rupert, a luxury goods entrepreneur, who secured the 157th position with a net worth of $11.1 billion.

Dangote Cement, the continent’s largest cement producer, was founded and is chaired by Aliko Dangote.

With an annual production capacity of 51.6 million tonnes spread across ten Sub-Saharan African countries, the company operates integrated factories in seven nations, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.

Apart from Dangote Cement, Aliko Dangote also holds stakes in publicly traded companies such as Dangote Salt (NASCON) and Dangote Sugar.

Moreover, his Dangote Petroleum Refinery, touted as the world’s largest single-train refinery, has recently been commissioned.

With an expected daily processing capacity of 650,000 barrels of petroleum for domestic consumption and export, this refinery is poised to revolutionize the oil and gas sector.

Dangote’s influence extends beyond the realm of business. As a prominent philanthropist, he has made substantial contributions through the Aliko Dangote Foundation.

In recognition of his business achievements and impactful philanthropy, Fortune Magazine ranked Dangote as the 11th among the 50 Greatest Men and Women of All Time.

The publication emphasized the transformative influence of these exceptional individuals in various fields, including business, government, philanthropy, and the arts.

Fortune Magazine stated, “These thinkers, speakers, and doers make bold choices and take big risks – and move others to do the same.”

Aliko Dangote’s nomination for this prestigious ranking stems from his ability to accumulate wealth through his business ventures and subsequently utilize that wealth to make a positive impact on society.

The recently unveiled top ten greatest men and women, according to Fortune Magazine, include Bill and Melinda Gates, Jacinda Ardem, Robert Mueller, Pony Ma, Satya Nadella, Greta Thunberg, Margrethe Vestager, Anna Nimiriano, Jose Andres, and Dough Mcmillon and Lisa Woods.

Dangote’s inclusion in this esteemed list has garnered praise from notable personalities worldwide, who recognize his business acumen and philanthropic endeavors.

Forbes’ billionaire ranking for 2023 revealed a downward trend for the wealth of many of the world’s richest individuals.

Elon Musk, who had held the top spot in the previous year, slipped to second place after his acquisition of Twitter impacted Tesla, his multinational automotive and clean energy company. Musk’s net worth currently stands at $180 billion.

Claiming the number one position on Forbes’ billionaire list is Bernard Arnault, a 74-year-old French businessman and the head of luxury goods giant LVMH.

Arnault’s net worth reached an impressive $211 billion, making him the first French national to top the list.

Forbes reported a decline in both the number of billionaires worldwide, dropping from 2,668 in 2022 to 2,640 in 2023, and the total wealth of billionaires, which decreased by $500 billion to $12.2 trillion.

These turbulent times have impacted both public and private markets, leading to a decrease in wealth for almost half of the world’s billionaires.

However, some individuals still experienced gains while others lost their billionaire status altogether.

The United States retains its position as the country with the highest number of billionaires, boasting 735 individuals with a collective net worth of $4.5 trillion.

China, including Hong Kong and Macau, follows closely in second place, with 562 billionaires worth $2 trillion.

India ranks third, with 169 billionaires amounting to a total wealth of $675 billion.

Forbes calculated the net worths based on stock prices and exchange rates as of March 10, 2023.

TAGGED: Aliko Dangote
Share This Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Naira Marley Addresses Mohbad’s Death, Allegations in Interview (Video)
Celebrities
Gennaro Gattuso
Gennaro Gattuso Named New Coach of Marseille
Sports
Olusegun Obasanjo
Yoruba Monarchs: Afenifere Condemns Obasanjo’s Stand Up Order
News
Francis Nwifuru
Tribunal Upholds APC’s Francis Nwifuru as Ebonyi Governor
News Top stories
Peter Afunanya
DSS Establishes Directorate of Public Relations and Strategic Communications
News
- Advertisement -

You Might Also Like

Transcorp Hotels
Business

Transcorp Hotels Achieves Full Compliance with NGX’s Free Float Requirement

September 27, 2023
Business

FG to Collaborate with NGX to Stimulate Startup Listings on Tech Board

September 22, 2023
Central Bank of Nigeria (CBN)
Business

Central Bank of Nigeria Postpones 293rd Monetary Policy Committee Meeting

September 21, 2023
Farooq Adedayo Oreagba
Business

NG Clearing Appoints Farooq Oreagba as Managing Director and CEO

September 20, 2023
Previous Next
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2022 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?