Forbes Magazine’s 38th edition of the World Billionaires list for 2024 has showcased four prominent Nigerian figures: Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola, among the global elite of wealth.
As per the list released yesterday, Aliko Dangote retains his status as Africa’s richest man, with a net worth of $13.4 billion as of April 2, 2024. Following closely is Mike Adenuga, with a net worth of $6.7 billion, while Abdulsamad Rabiu and Femi Otedola are reportedly worth $5.2 billion and $1.7 billion, respectively.
Forbes’ World’s Billionaires list comprises individuals with a net worth of $1 billion US dollars or more as of March 8, 2024.
Aliko Dangote, Africa’s foremost industrialist, founded and chairs Dangote Cement, the continent’s largest cement producer. With operations in 10 countries across Africa, Dangote Cement boasts an annual production capacity of 48.6 million metric tons. Additionally, Dangote’s investments extend to the fertilizer and petroleum refining sectors, further solidifying his position as a key player in Africa’s economic landscape.
Mike Adenuga, Nigeria’s second richest individual, has amassed his wealth through ventures in telecommunications and oil production. His company, Globacom, stands as one of Nigeria’s leading mobile phone operators, with over 60 million subscribers. Adenuga’s oil exploration outfit, Conoil Producing, operates extensively in the Niger Delta region.
Abdulsamad Rabiu, founder of BUA Group, oversees a conglomerate engaged in cement production, sugar refining, and real estate development. Through BUA Cement Plc and BUA Foods, Rabiu has made significant strides in Nigeria’s industrial sector, contributing to the nation’s economic growth.
Femi Otedola, a notable Nigerian billionaire, initially built his fortune in commodities before venturing into the energy sector. As chairman of Geregu Power, Otedola plays a pivotal role in Nigeria’s power generation industry. His diverse investment portfolio includes properties in major global cities and holdings in leading Nigerian banks.
Forbes’ Billionaires list underscores a record year for 10-figure wealth, with 2,781 billionaires worldwide, collectively worth $14.2 trillion. Notably, the US boasts the highest number of billionaires, followed by China and India. Bernard Arnault, Elon Musk, and Jeff Bezos lead the rankings as the world’s richest individuals, with notable figures like Warren Buffett and Mukesh Ambani also featuring prominently.
The inclusion of Dangote, Adenuga, Rabiu, and Otedola in Forbes’ prestigious list highlights their significant contributions to Nigeria’s economy and underscores their status as global business leaders.
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