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Tuesday, August 15, 2017

RE: A Nigerian businessman is half as rich as he was 3 years ago — but he's still the richest black billionaire.

Business

A Nigerian businessman is half as rich as he was 3 years ago — but he's still the richest black billionaire in the world

Business Insider 21 hours ago
Nigerian businessman Aliko Dangote was worth a cool $12.2 billion as of March 2017, according to Forbes. His fortune, which amounts to about 3% of Nigeria's total GDP, renders him the richest person in Africa by a landslide — and the highest-ranked black billionaire in the world. That's impressive, but it's about half of what Dangote was worth in 2014, when he commanded a fortune of $25 billion. The majority of his wealth stems from a more than 90% stake in Dangote Cement, a publicly traded company on the Nigerian Stock Exchange with a market cap of $11 billion. Dangote's business interests span several African countries. He owns cement plants in Zambia, Senegal, Tanzania, and South Africa. In ...

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