Nigerian billionaire Aliko Dangote set a new world record on Thursday, October 17, 2024, when he became the 64th richest man globally.
Dangote’s meteoric jump from 161 most prosperous in the world to 64th on the global billionaire index took many by surprise after the Kano-born billionaire earned a whopping N24 trillion ($15 billion) overnight.
Dangote is now world’s richest black man
That move propelled him to become not only Africa’s richest man again but the black race’s wealthiest individual. A recent report showed that Dangote was second on the list of richest black people behind America’s David Seward, with less than $12 billion. Thanks to his mega refinery, the Nigerian billionaire jumped 100 places on the Bloomberg Billionaire Index.
Dangote predicted his resurgence
The 67-year-old billionaire lost most of his wealth when the Nigerian government devalued the local currency, highlighting the struggle of Nigerian businesses and entrepreneurs.
Dangote confirmed he faced severe challenges when the naira was devalued, wiping off $70 billion of his assets in less than 12 months.
He predicted his resurgence, disclosing that the Dangote conglomerate will earn over $30 billion when the 650,000 bpd-capacity refinery reaches total production capacity.
Mega refinery to earn FX for Nigeria
He called the refinery an FX spinner for the Nigerian economy, saying the country will become a net exporter of petroleum products.
According to the Bloomberg Billionaire Index data, Dangote earned more money in 24 hours than Elon Musk, Mark Zuckerberg, and Jeff Bezos, the three wealthiest men on earth.
His net worth is now $27.8 billion from $13.4 billion a few days earlier. He has given South Africa’s Rupert, who overthrew him in August, miles in a gap as Africa’s most prosperous and the world’s richest black man.
List of rich black people
- Aliko Dangote (Nigeria) $27.8 billion
- David Steward (USA): $11.4 billion
- Robert F. Smith (USA): $10.8 billion
- Mike Adenuga (Nigeria) $6.7 billion
- Abdulsamad Rabiu (Nigeria): 4:8 billion
- Michael Jordan (USA): $3.5 billion
- Oprah Winfrey (USA): $3 billion
- Patrice Motsepe (SA): 3 billion
- Jay-Z (USA) $2.5 billion
- Strive Masiyiwa (Zimbabwe) $1.8 billion
