Aliko Dangote Business Magnate

Just like the popular saying “Money don’t sleep “ .

Founder , current chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa Aliko Dangote has become the 63rd richest billionaire in the world, according to the latest ranking by Bloomberg.

Africa’s richest person , Aliko Dangote 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 1.38 trillion naira ($3.4 billion) in 2021. It also has interests in sugar, salt, oil, fertilizer and packaged food.

In the ranking released on Wednesday, the Chief Executive Officer of Tesla, Elon Musk, is listed as the richest billionaire.

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Dangote, who moved up 37 places on the recent Bloomberg billionaire list, is worth $20.2 billion as of Monday, July 13, 2022.

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He sat as the 65th richest man in the world as of Friday, July 8, 2022.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

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Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York,” Bloomberg said.

Dangote, Africa’s richest person controls Dangote Industries, a closely held conglomerate

He owns 85 per cent of publicly-traded Dangote Cement through a holding company.

Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa. After many years in development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021. Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

Among the top ten richest billionaires on the list are Elon Musk, Jeff Bezos, Bernard Arnault, Bill Gates, Gautam Adani, Larry Page, Sergey Brin, Warren Buffett, Steve Ballmer, and Larry Ellison.

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