Dangote is the richest Nigerian with net worth $13.8 billion – Forbes

Fourteen Africans made Forbes billionaires ranking list – 2 Nigerians, 8 Egyptians and 4 South Africans

Forbes yearly billionaires list has ranked Aliko Dangote, the Group President/CEO of Dangote as the richest Nigerian and African with a net fortune quantified at $13.8 billion. He moved from previous ranking in the world from 436 to 51 in 2011 and that is a meteoric rise.

Together with Alhaji Aliko Dangote and other 13 Africans including another Nigerian, Mike Adenuga with a net worth of $2 billion, eight Egyptians and four South Africans made the 2011 ranking list. In the Forbes global list of billionaires, Aliko was ranked number 51 while Mike Adenuga was listed at number 595 out of 1140.

Forbes ranking list documented that Alhaji Aliko Dangote, "The Nigerian businessman’s fortune surged 557% in the past year, making him the world’s biggest gainer in percentage terms and Africa’s richest individual for the first time. The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange’s total market cap. Already the continent’s biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopa and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year. Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas."

While on Mike Adenuga, Forbes commented on the 57 years capitalist emergence," Nicknamed "the Guru" in his native Nigeria, Adenuga debuts on our billionaires list after making waves with mobile technology. His telecoms carrier Globacom recently launched a 4G network, and he’s invested $1 billion on a submarine cable connecting Nigeria to the rest of the world. He made his first million at age 26 selling lace and distributing Coca-Cola, then won a contract to build military barracks in the late 1980s. He owns a stake in the Equitorial Trust Bank and chairs Niger Delta oil exploration firm Conoil. Adenuga is a soccer devotee and sponsors a number of tournaments."

Aliko Dangote also made the 2011 list of Afripol most influential Africans.

http://afripol.org/afripol/item/245-aliko-dangote-is-the-richest-nigerian-and-african-with-net-worth-of-$138-billion-forbes.html