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Dangote’s World’s 64th Richest Person, Worth $16.6bn, Gains $5.8bn in One Day

Published

7 years ago

February 28, 2019

Eric

The President, Dangote Group, Aliko Dangote, gained $5.8bn within 24 hours as his total net worth rose to $16.6bn on Tuesday.

Bloomberg Billionaires Index, a ranking of the world’s 500 richest people, showed that his wealth fell from $10.5bn at the end of last year to a low of $9.63bn on January 1, 2019. But it grew to $10.8bn on Monday, February 25.

The index also revealed that his net worth increased by 23 per cent from $13.5bn on February 26, 2018, to $16.6bn, emerging 64th richest person in the world.

Dangote, who has seen his wealth rise by 58 per cent so far this year, emerged the second biggest mover after Andrew Forrest, founder and largest shareholder of Fortescue Metals Group, the world’s fourth-largest iron ore producer. Forrest’s wealth has grown by 59 per cent this year.

He was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person.

Other Africans on the list were Nicky Oppenheimer of South Africa, who was ranked 216th with a net worth of $7.05bn; Johann Rupert of South Africa (ranked 225th with $6.92bn wealth); Nassef Sawiris of Egypt occupied the 228th position with $6.83bn; Natie Kirsh of South Africa (ranked 263rd with a net worth of $6.10bn) and Naguib Sawiris of Egypt emerged 331st with a fortune of $5.12bn.

“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 N805.6bn ($2.4bn) in 2017. It also has interests in sugar, salt, flour, fertiliser 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 categorised 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.

The Founder of Amazon, Jeff Bezos, remains the richest person in the world with a total net worth of $136bn while Bill Gates and Warren Buffett occupied the second and third positions respectively with $98.4bn and $83bn fortunes.

Dangote was also recently named the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. The recognition came after he endowed his foundation, the Aliko Dangote Foundation to the tune of $1.25bn.

He started the foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and well-being, promote quality education, and broaden economic empowerment opportunities, according to the group.

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UK Court Acquittal: Diezani Goes Spiritual, Says God Will Always Be God

Published

2 days ago

June 18, 2026

Eric

Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has reacted to her acquittal by a London court after bribery charges brought against her were dismissed.

The Southwark Crown Court in London, United Kingdom, on Wednesday acquitted the former minister of all charges, including five counts of accepting bribes and one count of conspiracy to commit bribery.

Reacting to the judgment, Alison-Madueke expressed relief and said she and her family had endured years of emotional distress over the case.

Speaking to News Central, she said she has remained in the United Kingdom since the legal proceedings began 11 years ago.

She said: “I’m just thankful to God, it’s been arduous, almost 11 years. It’s been traumatic not just for me but for my family, friends, my 93-year-old mother in Port Harcourt and for my son.

“It has been a hard journey, but I tell you this, God will always do as He will. God will be God and God is not a man that He should lie; when He promises you something, He will see it through.

“For almost 11 years I have been here. I did my job to the best of my ability.”

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I Never Saw Report that Led to Natasha’s Suspension, Says Ireti Kingibe

Published

2 days ago

June 18, 2026

Eric

The lawmaker representing the Federal Capital Territory (FCT), at the Senate, Ireti Kingibe, says she did not see any report that led to the suspension of Kogi Central Senator, Natasha Akpoti-Uduaghan.

Kingibe made this disclosure on Wednesday when she featured in an interview on Arise Television’s ‘Prime Time’.

She said she was at a retreat with Edo North Senator, Adams Oshiomhole, when she heard about the report.

“I never saw the report that led to Natasha’s suspension. I was at a retreat. I had earlier stated that I was there with three or four other senators who are members of the committee.

“We attended the Committee on Petitions and Public Complaints, signed the attendance register, and I later left for the tax reform retreat, which I considered more important at the time.

“It affects my constituents much more than disciplining a senator, and I figured that the other people who were not part of that committee would take care of it.

“I even complained to other Senators, specifically to Senator Enyinnaya Abaribe. I complained to him very bitterly that I had not seen that report. I didn’t see it then. I have not seen it till now,” she said.

Headline

UK Court Clears Ex-Petroleum Minister Alison-Madueke of All Corruption Charges

Published

3 days ago

June 17, 2026

Eric

Former Nigerian oil minister Diezani Alison-Madueke was on Wednesday found not guilty by a London jury of six bribery charges, after ‌a rare corruption trial of a high-profile former energy official.

Alison-Madueke, minister for petroleum resources between 2010 and 2015 under then-president Goodluck Jonathan, stood trial charged with five counts of accepting bribes and a charge of conspiracy to commit bribery, which she denied.

Prosecutors ⁠alleged Alison-Madueke, 65, was given “a life of luxury” in London from oil and gas industry figures seeking lucrative contracts in Nigeria, which has long grappled with mismanagement and corruption.

But the former minister, who was also briefly president of the Organization of the Petroleum Exporting Countries, said she never took any bribes and had no real influence over the awarding of lucrative government contracts.

After a trial at London’s Southwark ‌Crown ⁠Court, Alison-Madueke was acquitted by a jury of all six charges she faced after more than 46 hours of deliberation.

The not guilty verdicts are a major blow to British authorities, which began their investigation into corruption allegations against Alison-Madueke ⁠more than a decade ago.

Alison-Madueke stood trial alongside oil industry executive Olatimbo Ayinde, 54, who was charged with one count of bribery relating to Alison-Madueke ⁠and a separate count of bribery of a foreign public official.

Alison-Madueke’s brother Doye Agama, 69, was charged with conspiracy to commit bribery ⁠with his sister relating to payments made to Agama’s church.

Both Ayinde and Agama denied the charges against them and were also acquitted by the jury.

Source: Reuters