Dangote Becomes Richest Man in Africa With $15.6bn - Bloomberg

Despite the instability of the Nigerian naira versus the dollar, Aliko Dangote remains the richest man in Africa.

Dangote surpassed other Africans in the Index, according to Bloomberg's daily top billionaire listings, which were issued on Tuesday. Dangote is the richest man in Africa for the 12th year in a row. 

Johann Rupert and family of South Africa are now worth $13.3 billion, while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris are also worth $9.0 billion, $7.47 billion, $7.37 billion, and $5.93 billion, respectively, in the latest top 500 world billionaires list for the year 2023. There are just five other Africans on the list.

The Bloomberg Billionaires Index ranks the world's wealthiest persons daily. Bloomberg News works to reflect the most transparent calculations possible when determining net worth, and each billionaire profile includes a full examination of how that person's money is calculated.

The index is a dynamic measure of personal wealth based on market, economic, and Bloomberg reporting changes. Every business day following the conclusion of trade in New York, each net worth number is updated. Stakes in publicly listed corporations are evaluated using the most recent closing price of the share. The values are converted to US dollars using current exchange rates.

Ellon Musk and Bernard Arnault are the world's richest people, with $219 billion and $194 billion in their reserve, respectively, while Jeff Bezos and Bill Gates are second and third, with $151 billion and $130 billion. On the list of the world's billionaires, Larry Ellison ranked fifth with $130 billion.

With a net worth of $15.6 billion, Africa's richest man owns Dangote Industries. Dangote Cement is Sub-Saharan Africa's largest cement maker. His company is also involved in sugar, salt, fertilizers, and packaged goods. Dangote has just completed the $19 billion petroleum refinery complex, making it Africa's largest refinery.

It should be noted that Aliko Dangote was recently ranked as one of the topmost generous men in the world by Richtopia, a digital periodical located in the United Kingdom that covers business, economics, and financial news. This honour was bestowed upon him when he donated to his charity, the Aliko Dangote Charity (ADF), with $1.25 billion.

Aliko Dangote established his Foundation in 1981 to increase prospects for social transformation via strategic investments in health and well-being, excellent education, and economic empowerment.

However, the Aliko Dangote Foundation was established as a charity in Lagos, Nigeria in 1994. After 20 years, the Foundation has grown to become Sub-Saharan Africa's largest private foundation, with the highest endowment from a single African donor. 

The Aliko Dangote Foundation's core emphasis is health and nutrition, with other programs in education, empowerment, and humanitarian aid.