The President of the Dangote Group, Aliko Dangote, remains Africa’s richest man, despite the appreciating dollar values, which has eroded most foreign stocks.

According to Bloomberg Billionaires, Dangote has a total net worth of $15.6 billion (KSh 2.2 trillion) and maintains his spot as Africa’s richest man.

Rich African on Bloomberg Billionaires Index

On Wednesday, June 28, 2023, Dangote jumped 11 places on the billionaire index from 122 to 111 after earning about $20.7 million (KSh 2.9 billion) in 24 hours.

He controls the Dangote Industries, a closely-held conglomerate.

The Dangote Group owns Africa’s biggest cement manufacturer, Dangote Cement, and is the primary source of the billionaire’s wealth.

The firm also has interests in sugar, salt, fertilizer, and packaged foods, and he recently commissioned the $19 billion (KSh 2.7 trillion) Dangote Refinery, Africa’s most significant.

He emerged as the most charitable man in the world by the World Richtopia, a US-based digital periodical covering business, economics, and financial news.

Other Africans on the list

Other Africans listed on the Bloomberg 500 wealthiest men in the world include Johann Ruppert, who ousted Dangote from the Forbes list as Africa’s wealthiest with a net worth of $13.3 billion (KSh 1.9 trillion) , while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa and Naguib Sawiris of Egypt are on the Bloomberg list.

The jump is Dangote’s most significant leap in two weeks since he dropped from 76th position in early June.

World’s richest man

Meanwhile, Tesla CEO Elon Musk and French billionaire Bernard Arnault are the world’s wealthiest men, with a net worth of $231 billion (KSh 32.5 trillion) and $197 billion (KSh 27.7 trillion), respectively.

The duo is followed by Amazon founder Jeff Bezos and Microsoft founder Bill Gates with $151 billion and $130 billion, respectively.

Musk reclaimed the number one spot as the wealthiest man in the world from Bernard Arnault.