Dangote’s net worth hits $11.2 billion, paving way to reclaim Africa’s richest title
The recent rebound in Dangote’s net worth is a testament to the resilient performance of his diverse business ventures amid challenging economic conditions.
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The recent rebound in Dangote’s net worth is a testament to the resilient performance of his diverse business ventures amid challenging economic conditions.
Dangote Sugar has also announced plans for a proposed merger with Nascon Allied Industries Plc and Dangote Rice Limited.
Dangote Cement’s performance and proactive approach to boosting shareholder value have continued to solidify its position as the leader in the cement industry.
Nascon Allied Industries is a prominent salt-processing company and a subsidiary of the Dangote Group, led by Nigerian billionaire industrialist Aliko Dangote.
Dantata owns an impressive 60 percent of MRS Oil Nigeria Limited, through his investment company, MRS Africa Holdings.
His net worth stands at $10.8 billion, making him the world’s richest Black billionaire and the second-richest person in Africa.
The surge in the shares of Dangote Cement, Africa’s largest cement company, was the driving force behind Dangote’s resurgence.
Dangote is set to expand the production capacity of Dangote Cement by constructing a new integrated cement plant in Itori, Ogun State.
The merger between Dangote Sugar and Nascon, along with Dangote Rice, is among the matters to be deliberated during the upcoming board of directors meeting.
At the time of writing, the wealth gap between Dangote and Johann Ruper stands at $1.1 billion.
Dangote Cement, with a production capacity of 51.55 mtpa spread across ten countries, aims to enhance shareholder value through the buyback program.
Dangote, who recently lost his long-held title as Africa’s richest man, now finds himself in the second position on the Nigerian Exchange.
The wealth gap between Aliko Dangote and Robert F. Smith has significantly decreased, raising the stakes in this high-profile competition.
The net worth of Nigerian billionaire Aliko Dangote has dipped below the $10-billion mark, according to Forbes.
Dangote’s net worth has declined by a staggering $400 million within the past seven days, dropping from $10.8 billion to $10.4 billion.
As a result of the $200-million dip, Rupert’s net worth slumped from $12 billion on June 16 to $11.8 billion at the time of writing.