Dangote Now 43rd Richest Man In The World – Forbes

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The Forbes List of World’s Richest People has placed Nigerian billionaire industrialist, Alhaji Aliko Dangote as the 43rd richest man in the world with a net worth of $16.1billion as at March 2013. This moves him from his previous position of 76th richest person in the world last year.

Dangote, however, remains the richest person in Africa and the richest manufacturer in the world.

The 55-year old is joined on the list by another Nigerian, the 59-year old Mike Adenuga, the Chairman of Globacom whose net worth of $4.7billion ranks him at 269.

The list is headed by Mexican Carlos Slim Helu with a net worth of $73billion, followed by Bill Gates of the United States with $67billion.

Others are Armancio Ortega of Spain ($57bn); Warren Buffet, United States ($53.5bn); and Larry Ellison of US with $43bn net worth, coming third, fourth and fifth, respectively.

Forbes said, “To compile net worths, we value individuals’ assets, including stakes in public and private companies, real estate, yachts, art and cash – and account for debt.

“We attempt to vet these numbers with all billionaires. Some cooperate; others don’t. We also consult an array of outside experts in various fields.”

The past year had been an eventful one for Dangote.

While in February, his Dangote Sugar Refineries bought a 95% stake in Savannah Sugar to cement his dominant position in the Nigerian sugar industry, he sold off a controlling stake in his flour milling company in October to Tiger Brands of South Africa, pocketing a handsome sum of $190m in cash.

Dangote started building his fortune more than three decades ago when he began trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle.

He delved into full production of these items in the early 2000s and went on to build the Dangote Group, West Africa’s largest publicly-listed conglomerate, which now owns sugar refineries, salt processing facilities and Dangote Cement.

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