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Dangote Retains Position as Africa’s Richest Man

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By Chisaa Okoye

President/Chief Executive of Dangote Group, Aliko Dangote, has retained the number one spot on Forbes 2021 billionaires list released on Tuesday.
 
Three Nigeria’s businessmen – Dangote, Chairman of Globacom and Conoil Plc, Dr. Mike Adenuga, and the founder of BUA Group, Abdulsamad Rabiu made it to the top six of the American business magazine’s 2021 Africa’s billionaires list, which had 14 African billionaires.
Aliko, the founder of Dangote Cement, Africa’s largest cement producer, also emerged the 191st richest man in the world, according to the Forbe’s latest ranking.

According to the magazine, Dangote’s net worth rose from $10.1bn in 2020 to $12.1bn in 2021, making him the 191st wealthiest person in the world.

Alhough Adenuga, who is Nigeria’s second-richest person witnessed a drop from $7.7bn to $6.3bn, he remained in the top echelon in Africa as the 5th and was also ranked 440th in the world.

Other Africans who made the top-6 category included one Egyptian, Nassef Sawiris, who emerged the second richest man in Africa and was ranked 297th on the list with a net worth of $8.5bn.

Forbes noted that Sawiris is an investor and a scion of Egypt’s wealthiest family, with his most valuable asset being a nearly six percent stake in sportswear maker.

The two South Africans who came in third and fourth positions respectively were Nicky Oppenheimer (worth $8bn, ranked 308th in the world) and Johann Rupert (worth $7.2bn, ranked 358th in the world list).

Meanwhile, the CEO of Amazon, Jeff Bezos retained his spot as the world’s richest with a net worth of $177bn,  followed by Elon Musk, co-founder and CEO of Tesla with $151bn.

According to Forbes, within the year in focus, there were rapid-fire public offerings, surging cryptocurrencies, and skyrocketing stock prices, adding that the number of billionaires on Forbes’ 35th annual list of the world’s wealthiest exploded to an unprecedented 2,755—660 more than a year ago.

Altogether the billionaires are worth $13.1 trillion, up from $8 trillion on the 2020 list.

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