Dangote remains Africa’s richest man as Adenuga continues gathering more money

Chairman of Dangote Group, Aliko Dangote is the richest man in Africa for the 11th consecutive time with a net worth of $14 billion from $12.1 billion last year and $10.1 billion in 2020.

This is according to Forbes’ 36th annual ranking of the planet’s richest people titled “War, pandemic and sluggish markets hit the world’s billionaires”.

Also, Mike Adenuga, chairman of Globacom, a telecommunication company in Nigeria, saw his wealth grew to $7.3 billion from $6.1 billion in 2021, according to Forbes’ ranking.

Adenuga, 68, is the second richest African and No 345 globally.

Adenuga’s fortune had in 2021 dropped from $7 billion in 2020 to $6.3 billion due to the effect of  COVID-19 on businesses.

Other Nigerians ranked include Abdulsamad Rabiu, Chairman of BUA Group, who recorded an increase in his fortune with a net worth of $6.8 billion from $5.5 billion in 2021 and $3.1 billion in 2020.

Folorunso Alakija, who fortune is still below $1 billion due to uncertainties in the global oil market.

Forbes, meanwhile, noted that there are 2,668 of the richest people on earth in 2022 — seven fewer than a year ago with a collective wealth of $12.7 trillion – $400 billion less than in 2021.

It said, “The most dramatic drops have occurred in Russia, where there are 34 fewer billionaires than last year following Vladimir Putin’s invasion of Ukraine, and China, where a government crackdown on tech companies has led to 87 fewer Chinese billionaires on the list.

“Still, Forbes found more than 1,000 billionaires who are richer than they were a year ago. And 236 newcomers have become billionaires over the past year — including the first ever from Barbados, Bulgaria, Estonia and Uruguay. America still leads the world, with 735 billionaires worth a collective $4.7 trillion, including Elon Musk, who tops the World’s Billionaires list for the first time.

“China (including Macau and Hong Kong) remains number two, with 607 billionaires worth a collective $2.3 trillion.”

Forbes revealed that it used stock prices and exchange rates from March 11, 2022, to calculate net worths.