There are just six Africans on the ranking of the world’s 500 richest people, the list includes Aliko Dangote, South Africa’s De Beers heir Nicky Oppenheimer (216th. $7.05bn), luxury tycoon Johann Rupert (225th. $6.92bn), Property and wholesale mogul Natie Kirsh (263rd. $6.10bn) and Egyptian brothers Nassef (228th. $6.83bn) and Naguib Sawiris (331st. $5.12bn).
Meanwhile, China, Africa’s closest population rival, puts forward a total of 44 Billionaires on the index. Dangote, a Nigerian business magnate, investor, and owner of the Dangote Group gained $5.8 bn within 24 hours on Tuesday as his total net worth rose to $16.6 bn, making him the 64th richest man on the Bloomberg Billionaire Index.
His wealth rose by 58 per cent so far this year, scoring second biggest mover after Andrew Forrest (59 per cent), founder and largest shareholder of Fortescue Metals Group, the world’s fourth-largest iron ore producer.
Africa’s richest person controls Dangote Industries, a closely held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of 805.6 billion naira ($2.4 billion) in 2017. It also has interests in sugar, salt, flour, fertilizer and packaged food.
And though Dangote’s $17 billion fortune is a startling figure in such a poor country, his wealth in proportion to the size of Nigeria’s economy is on par with or even lower than the richest citizens of more developed countries