Dangote Misses World's Top Richest List, See Why...


Nigeria and Africa’s richest man, Aliko Dangote, has dropped from off the list of the 100 richest people in the world. Dangote’s fall is due to the crash of the naira. According to Bloomberg, Dangote who was the 51st richest man in the world as at March 2016, has now dropped to 101th place. Dangote was worth $15.4 billion (N3.05 trillion) in March, is now worth $11.1 billion (N3.3 trillion) as situation which makes him richer in naira, but poorer in dollars.

However, Dangote richer than Donald Trump, American billionaire and presidential candidate, and Oprah Winfrey, US TV personality, who ranks as the second richest black woman in the world. Trump and Oprah are estimated at $4.5 billion and $3.1 billion, respectively. The launch of Dangote refinery, the biggest greenfield refinery in the world, billed for 2018/2019 is expected to propel him to the top 20 by 2019. Dangote cement, one of Dangote’s major investments in Nigeria, is the biggest company on the Nigerian Stock Exchange by market capitalisation, and the largest cement producer in sub-Saharan Africa. Meanwhile, Dangote Foundation has promised to rebuild all the health facilities that were destroyed by Boko Haram, particularly the ones destroyed in Gujba and Gulani local government areas of Yobe state.

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