Dangote Becomess 91st Richest Man In The World, As He Makes N412.2bn In 8 Hours

Dangote Jumps Up Six Positions In World Richest Billionaire List, As He Makes N412.2bn In 8 Hours.

Brand News Day Nigeria Aliko Dangote, Africa’s richest man the last 8 hours has gathered N217.5 billion ($523M) jumping to become the 91st richest man in the world.

Meanwhile, Dangote’s fortune has jumped as the spectacular rise in his cement company’s shares increases, this has attracted another N412.2bn equivalent to $523 Million.

According to the Bloomberg index, Dangote is now worth over $20.1 billion which is 5.23% of Nigeria’s external reserves of $40.1 billion.

The rising share price of his Dangote Cement Plc and higher oil and fertilizer prices helped boost the 64-year-old Nigerian businessman’s wealth.

The shares of Dangote Cement Plc on the Nigerian Exchange in the last 8 hours have advanced by 5.45 % to N274.8. from N260 it traded on Wednesday.

Dangote Becomes 91st Richest Man In The World, As He Makes N412.2bn In 8 Hours

Dangote also owns sugar, salt, oil, fertilizer, and packaged food, as well as six residential and commercial buildings in Lagos. His most significant closely held asset, though, is a fertilizer factory capable of producing up to 2.8 million tonnes of urea each year.

With the $19 billion oil refinery nearing completion Dangote’s wealth is expected to grow further in the coming years.

Dangote Cement, MTN Nigeria Lead List of the 10 Biggest Companies

BrandNewsDay Nigeria had earlier reported Dangote Cement and MTN Nigeria are the two biggest publicly listed companies in Nigeria as of October 2021.

What You Should Know About Aliko Dangote

• Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
• He owns 85% of publicly-traded Dangote Cement through a holding company.
• Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
• After many years of development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021.
• Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

How Did Dangote Get Rich – Did you know that;

Dangote told Forbes that when he was young, he bought sweets, gave them to others to sell, and he kept the profits.