According to the most recent update to Bloomberg’s Billionaires Index, Africa’s wealthiest individual, Aliko Dangote, has reclaimed his spot among the world’s top 100 billionaires.
The recent increase in his fortune can be due to the persistent increase in the market value of his broad portfolio, particularly his sugar operation and salt and savory venture, which has been fueled by the anticipation of their merger with Dangote Rice.
Dangote’s net worth has increased by $400 million over the last month, bringing his total wealth to $17.4 billion, according to the Bloomberg Billionaires Index, which analyzes the fortunes of the world’s 500 richest billionaires.
This puts him in 99th place on the global list, only behind Savitri Jindal, India’s richest woman, who is 98th with a net worth of $17.7 billion.
This financial rebound comes after Dangote’s net worth fell below $15.1 billion on June 25. Since then, he has seen a $2.3 billion rise, cementing his position as Africa’s richest man and the world’s richest Black person.
The majority of Dangote’s fortune is based on his 86% ownership of Dangote Cement, Africa’s largest cement maker.
Recent rises in the shares of Dangote Sugar Refinery, his sugar company, and NASCON Allied Industries Plc, his salt and savory operation, have been especially notable, owing partly to the excitement around their merger with Dangote Rice, his rice venture.
The current consolidation of these industries is expected to result in significant changes in the food and consumer products sectors, bringing up new options for growth. The resulting company will have a diverse product portfolio that includes sugar, rice, salt, vegetable oil, tomato paste, seasonings, and other savory items.
Dangote Sugar Refinery had a market capitalization of N735 billion ($971 million) at the time of reporting, while NASCON Allied Industries has a market valuation of N147.3 billion ($194.6 million). These figures highlight Dangote’s diverse business empire’s significant value and potential in the worldwide market.
Aliko Dangote’s return among the world’s richest billionaires cements his status as a worldwide business giant and emphasizes the international prospects of African entrepreneurship and investment. His extraordinary journey from local entrepreneur to global billionaire inspires and captivates people all around the world.