Nigerian Aliko Dangote remains Africa’s richest person with net worth of $11.6 billion. He gained $205 million more amid COVID-19 economic catastrophe

Nigerian Aliko Dangote remains Africa’s richest person with a net worth of $11.6 billion, according to a ranking of billionaires released by Forbes on Tuesday.

Mr. Dangote, 63, was ranked 190th richest person in the world, gaining additional $205 million amid the coronavirus economic catastrophe.

Aliko Dangote founded and chairs Dangote Cement, the continent’s largest cement producer, and owns 85% of publicly-traded Dangote Cement through a holding company.

Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa.

Africa’s richest person, who is divorced with three children, also owns stakes in publicly-traded salt and sugar manufacturing companies.

Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

Worldwide, the number of billionaires on Forbes’ 35th annual list of the world’s wealthiest increased to 2,755—660 more than a year ago. Altogether they are worth $13.1 trillion, up from $8 trillion on the 2020 list. 

“There are a record high 493 newcomers to the list—roughly one new billionaire every 17 hours, including 210 from China and Hong Kong and 98 from the U.S. The richest newcomer, at $38.2 billion, is Miriam Adelson of Nevada, who inherited her husband Sheldon Adelson’s casino empire following his death in January,”Forbes wrote. “Other notable new entrants include movie and TV producer Tyler Perry, Bumble dating app cofounder Whitney Wolfe Herd—the world’s youngest self-made woman billionaire, and Europe’s Guillaume Pousaz, founder of payments firm”

American Amazon founder Jeff Bezos is the world’s richest person for the fourth year running, worth $177 billion, up $64 billion from a year ago as a result of surging Amazon shares. 

According to Forbes, “Elon Musk—the biggest gainer in dollar terms—rocketed into the No. 2 spot with a $151 billion fortune, a whopping $126.4 billion more than a year ago, when he ranked No. 31 and was worth $24.6 billion. The main reason: a 705% climb in Tesla shares.”

Chief White House Correspondent for

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

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