- | - Select Menu


Breaking Gist

Newspaper Reviews

Entertainment Gists


Cryptocurrency Gists




Politics & Government

» » » » » » » » » #NigeriaDecides2019 – See How Dangote Became Wealthier During Election
Newer Post
Older Post

Alhaji Aliko Dangote has risen above 34 people to become the #64 richest person in the world.  According to the Bloomberg Billionaires Index, Dangote gained $5.8bn on Monday, two days before the declaration of President Muhammad Buhari was declared the winner of the 2019 presidential election.

Dangote, on Monday, made a massive profit of $5.8bn within 24 hours as his total net worth rose to $16.6bn on Tuesday.

He is the only Nigerian and the only member of the Bloomberg Billionaires Index from one of the 60 poorest countries.

Other Africans with a representative on the Bloomberg wealth ranking are all from South Africa. Nicky Oppenheimer ranked 216th with a net worth of $7.05bn, luxury tycoon Johann Rupert ranked 225th with $6.92bn wealth, and property and wholesaling mogul Natie Kirsh ranked 263rd, with a net worth of $6.10bn.

All three have extensive holdings outside Africa.
“Dangote controls Dangote Industries, a closely held conglomerate. The Lagos-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N805.6 bn ($2.4bn) in 2017. It also has interests in sugar, salt, flour, fertilizer, and packaged food,” said Bloomberg.
According to Bloomberg, net worth figures are updated every business day at the close of every trading day in New York, with assets categorized as publicly traded companies, private assets (including closely held businesses, art, and real estate), cash and other liquid investments and liabilities.
“Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to US dollars at current exchange rates,” it said.
Jeff Bezos (Amazon) remains the richest in the world with $136 billion in his kitty while Bill Gates and Warren Buffett followed as second and third respectively with $98.4 billion and $83 billion on the world billionaires’ chart, dominated by North Americans.

Mr Dangote owns nearly 88 percent of publicly-traded Dangote Cement through a holding company and his Cement Company produces 44 million metric tons annually and plans to increase its output 33 percent by 2020.

He also owns stakes in publicly-traded salt, sugar, and flour manufacturing companies.

About Colossus Gists

Nigerian #1 Multifarious Entertainment Magazine, providing Nigerian gists on Celebrities, Politics, Lifestyle, Relationships, Events, Pageants, Fashion and other Breaking Stories. For Event, Pageant, Wedding, Program, Hype and Media PR, let us know; Add Us On BBM:5651B8C1 Or Call/Whatsapp +2347034265167
Newer Post
Older Post

No comments

Lets Hear Your View

Let's hear your own personal view using the comment box below