Nigerian business tycoon Aliko Dangote has achieved yet another milestone by becoming the 75th richest person in the world after earning a staggering N354.8 billion within a 24-hour period.
Dangote, known as the wealthiest individual in Africa, has seen a significant increase in his wealth.
Just a week ago, Dangote occupied the 80th position on the global billionaires’ list after amassing N460 billion in a single day, surpassing several billionaires from Russia, China, and India.
According to Bloomberg Billionaire Index, Dangote has held the title of the richest person in Africa for an impressive 12 consecutive years, with a net worth of $19.7 billion.
The surge in his fortune can be attributed to the growing demand for Dangote Cement in Africa, which has not only bolstered his wealth by $100 million but also propelled him past other billionaires.
Following the official inauguration of President Bola Tinubu, the Nigeria Stock Exchange experienced a hike, leading to a rise in the shares of Dangote Cement. As a result, on Tuesday, May 30, 2023, the company’s shares traded at N290, driven by positive investor sentiments.
Financial analyst and banker Uche Madubuogu stated that Dangote’s upcoming project, the Dangote Refinery, has the potential to elevate him into the ranks of the top 20 wealthiest individuals globally.
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