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Aliko Dangote Retains Position as Africa’s Richest Man Despite Currency Volatility, Bloomberg Reports

July 1, 2023

Aliko Dangote, the President of Dangote Group, has retained his position as Africa’s wealthiest individual, despite the Nigerian currency’s fluctuation against the dollar, as reported by the Bloomberg Billionaires Index.

According to the recently released daily top billionaire lists on Tuesday, Dangote’s wealth was valued at an impressive $15.6 billion, placing him at the top of the list of African billionaires on the Index.

Leading the global rankings are Ellon Musk and Bernard Arnault, holding the first and second positions as the richest individuals in the world, with fortunes amounting to $219 billion and $194 billion, respectively.

Jeff Bezos follows closely in third place with $151 billion, while Microsoft CEO Bill Gates and Larry Ellison are tied for the fourth and fifth positions, each with a net worth of $130 billion.

Despite the volatility of the Nigerian currency, Dangote’s consistent position as Africa’s wealthiest person underscores his successful business ventures and diverse investments across various sectors.

Among the world’s top 500 billionaires for the year 2023, only five other Africans made the recent list. South Africans Johann Rupert and his family hold a net worth of $13.3 billion, followed by Nicky Oppenheimer, Nassef Sawiris, Natie Kirsh, and Naguib Sawiris, with respective fortunes of $9.0 billion, $7.47 billion, $7.37 billion, and $5.93 billion.


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