Despite Naira Instability, Dangote Doubles Wealth to $27.8 Billion, Ranks Among World’s Top 100 Billionaires

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Aliko Dangote, President of Dangote Industries Limited (DIL), has seen his wealth surge to a remarkable $27.8 billion, doubling in value despite the volatility of the Nigerian naira. This growth follows the commencement of operations at his massive 650,000 barrel-per-day refinery, a project that took 11 years and $20 billion to complete.

According to the Bloomberg Billionaires Index (BBI) released on October 17, 2024, Dangote’s net worth has soared by $15.1 billion, pushing him to 65th place in the global billionaires’ ranking. This makes Dangote the only African in the top 100 list of the world’s richest individuals.

The refinery’s valuation was included in the latest calculations, marking the first time this asset contributed to the billionaire’s total wealth. As a result, Dangote jumped from 170th place, where he was ranked on September 25 with $13.3 billion, to his current 65th position.

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Dangote’s latest ranking puts him more than 100 spots ahead of South African billionaire Johann Rupert, who is ranked 174th with a net worth of $13.6 billion. Other notable African billionaires, including Nicky Oppenheimer of South Africa, trail further behind with $11.6 billion.

The Bloomberg Billionaires Index tracks the net worth of the world’s wealthiest individuals, adjusting daily based on market activity and changes in the economy.

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