Aliko Dangote, Africa’s richest man, is now the 25th Richest man in the world. According to Forbes, Dangote is now the first African entrepreneur to lay claim to a $20 billion fortune as the stock value of his largest holding, Dangote Cement, leaped just three months after it released its annual ranking of the world’s richest people.
The report noted that Aliko Dangote’s 93 percent stake in the cement company is now worth $19.5 billion. Dangote also has controlling stakes in other publicly-listed companies like Dangote Sugar and National Salt Company of Nigeria and significant shareholdings in other blue-chips like Zenith Bank, UBA Group and Dangote Flour.
Dangote debuted on the FORBES billionaires list in 2008 with a fortune we pegged at $3.3 billion. His fortune dropped to $2.5 billion in 2009 and plunged further to $2.1 billion in 2010. His fortune surged 557 percent in 2011 to $13.8 billion after he took Dangote Cement public. He dropped to $11.2 billion in last year’s rankings, but rebounded at $16.1 billion this year. Since March, his fortune has jumped another 30 percent.
Alhaji Aliko Dangote – Africa’s richest man