President of Dangote Group, Aliko Dangote, has emerged as the 72nd richest person in the world with an estimated net worth of $20.4 billion, according to the latest data on Bloomberg’s billionaires’ index.
Dangote, who is still the richest man in Africa for the 11th year running, was the only African billionaire who made the top 100 list of the world’s 500 richest people. The majority of Dangote’s fortune is derived from his 86% stake in publicly traded Dangote Cement.
According to Bloomberg, the Nigerian billionaire was ranked the 97th richest person in the world back in January with a net worth of $19.2 billion. In February, Dangote moved up the ranking to become the 83rd richest person in the world, vaulting over popular Russian businessman and owner of Chelsea Football Club Roman Abramovich, who is now ranked 132nd on the list of the world’s 500 richest people.
In March, Aliko Dangote commissioned the Dangote Fertiliser Plant – the world-class fertiliser plant estimated at $2.5 billion, with the capacity to produce 3 million metric tonnes (mt) of urea yearly. The addition of the net value of the Lagos-based fertilizer plant to Dangote’s personal wealth is said to have pushed his net worth above $20 billion, making him the world’s 72nd richest man.
As of April 2022, Dangote’s fortune has been on an upward trajectory with Bloomberg reporting that his net worth of $20.4B can buy 10.6 million troy ounces of gold.