Billionaire Aliko Dangote is now 72nd richest in the world

For the 11th year in a row, Aliko Dangote, Africa’s richest man, was the only African billionaire to make the top 100 list of the world’s 500 wealthiest individuals. Dangote’s riches are mostly obtained from his 86 percent share in Dangote Cement, which is publicly listed.

With a net worth of $19.2 billion, the Nigerian billionaire was named 97th wealthiest person in the world by Bloomberg in January. Dangote surpassed famed Russian billionaire and Chelsea Football Club owner Roman Abramovich, who is currently placed 132nd on the list of the world’s 500 wealthiest individuals, to become the 83rd richest person in the world in February.

Aliko Dangote commissioned the Dangote Fertiliser Factory in March, a $2.5 billion world-class fertilizer plant capable of producing 3 million metric tonnes (mt) of urea annually. Dangote’s net worth is estimated to have risen to $20 billion when the net value of the Lagos-based fertilizer business was added to his personal fortune, making him the world’s 72nd wealthiest man.

Dangote’s riches have remained on the rise, with Bloomberg stating that his net worth of $20.4 billion can purchase 10.6 million troy ounces of gold as of April 2022.