Aliko Dangote’s wealth ballooned by $1.5 billion, about N662 billion, in November due to a strong showing of his companies However, the wealthiest man in Africa dropped ten places in the current billionaire ranking by Bloomberg His recent gain is primarily attributed to the rise of his cement company, Dangote Cement which has been bullish lately .
Africa’s wealthiest man, Aliki Dangote, made about $1.5 billion in November as his Cement company, Dangote Cement, made impressive monthly runs. Dangote’s wealth comes from several large-scale business ventures, and he has remained afloat every year due to his knack for scaling his businesses.
Cement company propels his wealth Recently, his cement firm has weathered tough economic headwinds from Nigeria and across Africa to keep as Africa’s richest person.
According to a recent Bloomberg Billionaire Index report, Dangote slid six places down from 71st richest man in October to 81st. Despite the slide, Dangote’s wealth ballooned to $19.1 billion in November. The increase is due to a profit from his conglomerate, despite losing $611 million in the first ten months of 2022.