Forbes Names Dangote Africa’s Richest Man For The Seventh Year In A Row

By Ikenga Chronicles January 12, 2018

Forbes Names Dangote Africa’s Richest Man For The Seventh Year In A Row

The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has been named as the richest man in Africa for the seventh time in a row.

He is said to now be worth $12.2 bn in 2017, an increase of $100m from a year earlier.

Meanwhile, Bill Gates maintained his position as the richest in the world with a net worth of $86bn.

He is followed by Warren Buffet and Jeff Bezos who came second and third, respectively with net worths of $75.6bn and $72.8bn.

“Dangote is looking beyond cement – his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter of this year,” Forbes stated.

Dangote was recently the only African selected among Bloomberg’s world 50 best persons in the year 2017.

However, some notable Nigerians were dropped from the billionaires’ list, including Globacom Chairman, Mike Adenuga, with a net worth of $5.8bn, who was adjudged the fifth richest man in Africa and Folorunsho Alakija, whose estimated $1.6bn fortune is in oil exploration, and was adjudged as the 15th richest person on the continent.

Diamond mining heir, Nicky Oppenheimer of South Africa, with a net worth of $7.7bn, up $700m from last year came second as Africa’s richest.

Oppenheimer is one of eight South Africans on the list, making it the country with the most billionaires in Africa.