Aliko Dangote, Africa’s Richest man, Adds Extra $915 Million To His Vast Wealth In Q1 2022
The Nigerian industrialist is actually worth $20 billion. He is also the world’s 79th richest person and the only African in the top 100 wealthiest people.
Mr Dangote had a net worth of $19.2 billion at the start of 2022, making him the world’s 97th richest person. His net worth, however, has fluctuated over the last three months as a result of stock price swings and other factors. Despite the variations, he finished the quarter on a high note.
The addition of $915 million to the billionaire’s net worth isn’t the only intriguing item that happened to him during the time period under consideration. His long-awaited Dangote Refinery and Fertilizer Plant was finally commissioned only last month. The factory, which cost $2.5 billion to construct, is currently Africa’s largest and the world’s second-largest urea plant.
The plant’s debut comes at a time when the globe is on the verge of a major food shortage. The millionaire is expected to take advantage of the situation by exporting fertilizer to other countries, enhancing his prospects of expanding his personal worth.
Dangote’s urea facility already exports fertilizer not just to other African countries, but also to India, Mexico, Brazil, and the United States of America.
In addition, three of the billionaire’s publicly traded companies on the Nigerian Exchange—Dangote Cement Plc, Dangote Sugar Plc, and Nascon Allied Industries—all submitted audited financial results for FY 2021 over the preceding quarter, all of which indicated favorable financial signs. For example, Aliko Dangote owns an 86 percent share in Dangote Cement Plc, which posted a profit of $875 million.
According to research conducted by Business Insider Africa, the three corporations control a third of the Nigerian Exchange Group’s total market capitalization.
