Dangote named Africa’s richest man in Forbes billionaires ranking

Dangote named Africa’s richest man in Forbes billionaires ranking

Dangote named Africa’s richest man in Forbes billionaires ranking

Tagged: Fewer Billionaires, Poorer Billionaires On African Continent In 2019, Forbes said the number of African billionaires fell to 20, down from 23 a year ago, having been buffeted by plunging stock prices and weaker currencies. In the same vein, the man at the top spot, Aliko Dangote also doesn't tithe to pastors or churches and neither does he give first fruit.

Dangote, chairman of the Aliko Dangote Foundation, was also ranked by Forbes as the 66th most powerful person on earth, ahead of Mike Pence, US Vice-President in May 2018.

Also, in the American business magazine's 75-person list, Dangote clinched the second position in Africa, trailing President Abdel Fattah el-Sisi of Egypt, who was ranked 45th, both men were the only Africans on the list.

Dangote's wealth dropped from twelve billion last year, to ten billion this year.

Dangote's net worth value, which stood at $12.2 billion in January, last year, is down to $10 billion a year after, the Forbes' Africa Billionaires List released yesterday showed.

His net worth climbed dramatically from $5.3 billion in January 2018 as a result of more detailed information provided by him about his assets. "All but four members on the list have smaller fortunes than a year ago".

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Adenuga owns Globacom, which is Nigeria's third-largest mobile phone network, plus oil exploration firm Conoil Producing, extensive real estate holdings in Nigeria and a network of 12,000 cellphone towers.

Those who didn't make the billionaire cut this year include Aspen Pharmacare founder Stephen Saad, Assor Group's Desmond Sacco and Shoprite investor Christoffel Wiese.

The other three are Koos Bekker with a net worth of $2.3 billion.

Among the few on the list who are richer than a year ago is Strive Masiyiwa of Zimbabwe, worth an estimated $2.3 billion, up from $1.6 billion last year.

Nigeria's cement mogul, Abdulsamad Rabiu, who runs the BUA Group, returned to number 16 on the list for the first time since 2015.

The merger between Rabiu's Kalambaina Cement firm with the Cement Company of Northern Nigeria, which he controlled, in December, last year, was formally consummated in Sokoto earlier this week. He lost 17.9% of his riches past year, while Patrice Motsepe lost 4.2% when he went from $2.4 billion to $2.3 billion.

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