Dangote Overtakes Four on Billionaires’ List, Makes N460bn in a Day
Nigerian business magnate Aliko Dangote has climbed the ranks on the billionaires’ list, overtaking two Russians, one Chinese, and an Indian on Monday after his company, Dangote Group, made an impressive N460bn profit in a single day.
The increase in demand for Dangote Cement helped Dangote earn roughly $100 million, solidifying his position as the company’s majority shareholder.
This significant profit followed the announcement of a share buyback by Dangote Cement two weeks ago, indicating Dangote’s continued success in the business world.
According to the Bloomberg Billionaire Index, Dangote has maintained his position as Africa’s wealthiest person for 12 consecutive years, cementing his status as one of the most successful businesspeople on the continent.
