Bloomberg rates Dangote richest man in Africa with $15.6bn

Aliko Dangote

Bloomberg has listed the President of Dangote Group, Aliko Dangote, as the richest man in Africa, despite the volatility of Nigerian currency against the dollar.

Bloomberg, in its daily top billionaire lists released on Tuesday, June 27, 2023, stated that Dangote with a wealth of $15.6 billion topped other Africans in the index.

Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires released by Bloomberg.

Other Africans listed in the latest top 500 world billionaires list for the year 2023 include Johann Rupert and family of South Africa, 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, $7.37billion, and $5.93 billion, respectively.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting.

Each net worth figure is updated every business day after the close of trading in New York.

Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Ellon Musk and Bernard Arnault are the richest in the world with $219 billion and $194 billion, respectively, while Jeff Bezos and Bill Gates followed, respectively with $151 billion and $130 billion.

Larry Ellison is the fifth richest man with $130 billion on the world’s billionaires’ chart.

Dangote was recently named among the topmost charitable men in the World by Richtopia, a UK-based digital periodical that covers business, economics, and financial news.

This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF), to the tune of $1.25 billion.

Dangote started his Foundation in 1981.

The Star