Dangote outperforms Jeff Bezos, Bill Gates, and others as he crosses the $20 billion mark

Dangote outperforms Jeff Bezos, Bill Gates, and others as he crosses the $20 billion mark ©provided by Business Insider Africa

Africa’s richest man, Aliko Dangote has kicked off the year on a good note. While starting the year off as the continent’s second richest man, he quickly regained his status as Africa’s richest person. And as the month rounds off Dangote’s net worth has crossed another significant milestone.

・Aliko Dangote regains Africa’s richest status, starting the year at $9.5 billion and now surpassing $20 billion in net worth.

・Dangote’s impressive YTD change of +$6.91 billion outshines global billionaires like Jeff Bezos, Warren Buffet, and Bill Gates.

・The surge in net worth is attributed to Dangote Cement’s market cap exceeding N10 trillion and high investor interest in his newly built oil refinery.

Philanthropist and business tycoon, Aliko Dangote recently experienced a significant jump in his net worth. According to Bloomberg’s real-time billionaire index, the CEO of the profound Dangote group has crossed the $20 billion mark.

The index showed that Dangote’s last change in valuation came in at a positive $282 million, while his year-to-date (YTD) change is a staggering +$6.91 billion.

For context, Dangote’s gain trumps Jeff Bezos whose YTD change in the period under review is +4.92 billion, Warren Buffet’s whose YTD change is $6.31 billion, and Bill Gates’s YTD change which came in at $1.62 billion.

Dangote began the year with $9.5 billion as Africa’s second richest man, behind South Africa’s Johann Rupert, who at the time was worth $10.3 billion.

See here: Top 10 richest people in Africa at the start of 2024

However as the month ran on, Dangote’s billion-dollar net worth crossed the double-digit mark, flatlining at around $14 billion, which firmly reestablished his status as the continent’s richest person. However, as the month ends, Dangote has yet again hit another significant milestone, crossing the $20 billion mark.

This dramatic rise in net worth is attributed to the impressive performance of the Dangote cement company which surpassed the N10 trillion market cap, standing as the first Nigerian company to achieve this milestone.

His newly built oil refinery has also drawn in a lot of investors who have staked significant funds on the prospect of the refinery dominating Africa’s oil network.