At the time of writing, the Nigerian billionaire is now ranked the 83rd richest person globally.
-Aliko Dangote’s wealth grew by $950 million since January 2022, following a year-to-date price increase in the shares of Dangote Cement Plc.
-Dangote’s wealth currently surpasses that of famous Russian businessman and owner of Chelsea Football Club Roman Abramovich, who is now ranked 124th on the list of the world’s 500 richest people.
Aliko Dangote’s net worth has risen by $934 million since the first trading day of the current calendar year, making him the 83rd richest person globally. According to Bloomberg, the African billionaire businessman’s total fortune is now worth $20 billion, letting him overtake Russian businessman and owner of Chelsea Football Club Roman Abramovich on the publication’s billionaires list.
Much of Dangote’s net worth is tied up in his flagship company Dangote Cement Plc, meaning it rises and falls with the company’s stock price. The Nigerian billionaire’s wealth rose following a year-to-date price increase in the shares of Dangote Cement Plc announced it would buy back up to 170 million shares, or 1% of its issued shares, over two days from Jan. 19. Since the commencement of the share buyback program, the company’s shares have soared by 7% on the Nigerian Exchange, thanks to stockbroker buying activities and investor reactions.
In the first tranche of its share buyback program, the cement behemoth bought back shares worth N9.77 billion ($23.56 million). In the second tranche of its share buyback program, the cement manufacturer acquired a 0.74-per cent stake for N35.1 billion ($84.5 million).
Dangote was ranked the 97th richest person in the world back in January, with a net worth of $19.2 billion. At the time of writing, the Nigerian billionaire is now ranked the 83rd richest person in the world, vaulting over popular Russian businessman and owner of Chelsea Football Club Roman Abramovich, who is now ranked 124th on the list of the world’s 500 richest people.
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