Africa

Forbes: Dangote Remains Africa’s Richest Man as Adenuga Edges Rabiu to Third Place

Nigerian billionaires improved their ranking in the latest Forbes World’s Billionaire List, which compiles the fortunes of the richest people in the world.According to the list released yesterday, Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote saw his wealth increase from $11.5 billion in 2021, to $14 billion in 2022.

Also, the report showed that Chairman of Mike Adenuga, Nigeria’s second richest man, grew his wealth from $6.1 billion to $7.3 billion. Similarly, the Chairman of the BUA Group, Alhaji Abdulsamad Rabiu, the third Nigerian on the list, saw his fortunes improve from $4.9 billion to $6.9 billion.Folorunso Alakija’s fortune was still below $1 billion due to uncertainties in the global oil market, per Forbe’s latest report.

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According to the magazine, 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.Forbes in the report noted that war, pandemic and sluggish markets hit the world’s billionaires this year. “There are 2,668 of them on Forbes’ 36th-annual ranking of the planet’s richest people—87 fewer than a year ago. “They’re worth a collective $12.7 trillion—$400 billion less than in 2021.

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“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.”

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