With a net worth of $16.1bn as of
March 2013, the President, Dangote
Group, Alhaji Aliko Dangote, has moved
up in the latest world richest ranking
to number 43 from 76 in 2012.
According to the list which was
released on Monday by Forbes,
Dangote and the Chairman of
Globalom, Dr. Mike Adenuga were the
only Nigerians on the list.
Dangote, 55, however, retained his
position as the richest man in Africa
and the richest among
manufacturers in the world with a
net worth of $16.1bn.
Adenuga, 59, on the other hand,
ranked 269 on the list with a net
worth of $4.7bn.
The world billionaires, list presented
Carlos Slim Helu, a Mexican as the
world richest man with a net worth of
$73bn, while Bill Gates of United
States came second with a net worth
of the $67bn.
Others are Armancio Ortega of Spain
($57bn); Warren Buffet, United
States ($53.5bn); and Larry Ellison of
US with $43bn net worth, coming
third, fourth and fifth, respectively.
Forbes said, "To compile net worths,
we value individuals' assets, including
stakes in public and private
companies, real estate, yachts, art
and cash - and account for debt.
"We attempt to vet these numbers
with all billionaires. Some cooperate;
others don't. We also consult an array
of outside experts in various fields."
The past year has been eventful for
Dangote. In October, he sold off a
controlling stake in his flour milling
company to Tiger Brands of South
Africa and pocketed $190m in cash.
In February, his Dangote Sugar
Refineries acquired a 95 per cent
stake in Savannah Sugar in a bid to
maintain its dominant position in the
Nigerian sugar industry.
Dangote started building his fortune
more than three decades ago when he
began trading in commodities like
cement, flour and sugar with a loan
he received from his maternal uncle.
He delved into full production of these
items in the early 2000s and went on
to build the Dangote Group, West
Africa's largest publicly-listed
conglomerate, which now owns sugar
refineries, salt processing facilities
and Dangote Cement.