One year ago, over half of the world’s billionaires were poorer. 254 people lost their billionaire title completely, whereas other persons saw gains.
Despite economic headwinds that negatively impacted the fortunes of half of the world’s reported billionaires, Aliko Dangote, President of the pan-African conglomerate, the Dangote Group, has emerged as the richest man in Africa for the 12th year in a row.
With an estimated net worth of $14.2 billion, up from $12.1 billion last year, Mr. Dangote is the only Nigerian on the list of the leading 200 richest persons in the world. His company, Dangote Cement Plc, is the largest cement maker in Africa.
According to Forbes’ most recent ranking of the world’s billionaires for 2023, the richest people on earth had a bad year due to declining equities, injured unicorns, and rising interest rates.
One of just two Africans in the top 200 billionaires, Mr. Dangote is currently ranked 124th among the world’s wealthiest people. Johann Rupert, a luxury goods dealer from South Africa, is ranked 157th and has a net worth of $11.1 billion.
The world’s leading philanthropist had previously been named the eleventh greatest man and woman of all time by Fortune Magazine, an American multinational business publication that based its ranking primarily on the businesses that the men ran and how they used them to positively impact their societies.
The venerable publication, whose first issue was released in February 1930, claimed that the finest men and women in business, politics, philanthropy, and the arts are changing the world and inspiring others to do the same. According to the magazine, “These thinkers, speakers, and doers make bold decisions and take big risks-and inspire others to do the same.”
Specifically, Mr. Dangote was nominated because it was determined that he used his business to accumulate riches and that he is now using his wealth to have a significant influence on society through the Aliko Dangote Foundation.
The richest man in Africa created and leads Dangote Cement, the biggest cement manufacturer on the continent. With integrated factories in seven of the ten Sub-Saharan African nations, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone, Dangote Cement has a manufacturing capacity of 51.6 million tonnes per year throughout these nations.
Additionally, Mr. Dangote holds shares of the manufacturing firms Dangote Salt (NASCON) and Dangote Sugar.
His Dangote Petroleum Refinery, dubbed the largest single-train refinery in the world, was recently put into operation and is anticipated to process 650,000 bpd of petroleum for both domestic and international use. Experts have called it a game-changer for the oil and gas industry.
Fortune Magazine has named Bill and Melinda Gates, Jacinda Ardem, Robert Mueller, Pony Ma, Satya Nadella, Greta Thunberg, Margrethe Vestager, Anna Nimiriano, Jose Andres, Dough Mcmillon, and Lisa Woods as the top 10 greatest men and women of all time.
Eminent people from all over the world commented on the listing of Mr. Dangote as one of the greatest business leaders, describing him as deserving of the nomination based on his commercial savvy and charitable deeds.
According to Forbes, a global media company, nearly half of the world’s billionaires are poorer than they were a year ago. Elon Musk, who has a $180 billion net worth, dropped from first to second after his expensive acquisition of Twitter caused Tesla, his global auto and clean energy company, to lose market share.
The 74-year-old Frenchman Benard Arnault, CEO of luxury goods company LVMH, was named the world’s richest person with a net worth of $211 billion, making him the first citizen of France to hold that position.
With 735 list members worth a combined $4.5 trillion, the United States still has the most billionaires. India comes in second with 169 billionaires worth $675 billion, followed by China (including Hong Kong and Macau), which has 562 billionaires totaling $2 trillion. Forbes used stock prices and exchange rates as of March 10, 2023 to determine net worths.
