Dangote becomes Africa’s first person worth $30 billion

Source: Business Insider Africa —

Aliko Dangote has made history by becoming the first African to reach a net worth of $30 billion. This landmark achievement, confirmed by Bloomberg’s index, caps a remarkable period of growth for the Nigerian industrialist. His increase in wealth is closely tied to the strategic expansion of his conglomerate, including the recent inauguration of a major $160 million cement plant in Côte d’Ivoire. The real game-changer, however, has been his massive oil refinery, which began operations in 2023. Despite some volatility regarding his wealth over the past two years, the refinery’s success has been the main driver of his fortune’s unprecedented rise. This milestone solidifies Dangote’s status as a global business titan and signals the vast economic potential of African industry.

Read full story by Chinedu Okafor on Business Insider Africa