Last month, Africa’s richest man’s net worth increased by $1.5 billion, following a whopping $200 million increase in October. His net worth is currently $19.1 billion, ranking him as the world’s 81st richest man.
His net worth increased by $1.5 billion in November, reversing losses of $611 million in the first ten months of 2022, according to the Bloomberg Billionaires Index, which tracks and compares the fortunes of the world’s 500 wealthiest people.
The increase is attributed to the recent rises in the price of Dangote Cement Plc’s stocks, which regained bullish dominance after months of bearish performances.
Aliko Dangote acquired much of his wealth from an 86-percent stake in Dangote Cement, which is currently valued at $8.64 billion. Also, his wealth increase can be attributed to his fertilizer plant, which is capable of producing up to 2.8 million metric tons of urea a year; it is valued at $5 billion.
With the billion-dollar increase in his net worth that wiped out his year-to-date wealth loss of $611 million at the start of the month, the Nigerian billionaire joins Abdul Samad Rabiu, who has recorded a significant increase in his wealth this year.
Aliko Dangote announced that his investment will create at least 300,000 jobs in Nigeria as he continues to strategically invest in his sugar business in accordance with the Nigeria Sugar Master Plan requirements