Entertainment
Dangote, Rabiu, Adenuga make Forbes’ Africa richest people list
According to Forbes in its latest report on the richest people in Africa, Dangote is worth an estimated $13.9 billion, which is up from $12.1 billion last year after a 30% increase in the stock price of his most valuable asset, Dangote Cement.
Forbes analysts attributed Dangote’s retention of the top spot to the “surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021.”
Also, Nigerian business tycoon and founder of the BUA Group, Abdulsamad Rabiu, came in fifth with around $7 billion in net worth.
“He and his son retained a 96% stake in the company, which recently had a market capitalization of nearly $2.8 billion. BUA Cement, in which he and his son have a 96% stake, listed in January 2020,” Forbes stated.
Meanwhile, Founder and CEO of Globacom, Mike Adenuga, comes in a close sixth after Rabiu with an estimated net worth of $6.7 billion.
