Aliko Dangote net worth is now $20.4 billion
Nigerian billionaire and Africa’s richest man Aliko Dangote has become the first African entrepreneur to lay claim to a $20 billion fortune as the stock value of his largest holding, Dangote Cement increased.
Currently, on the top 25 richest in the world, Aliko is now richer than Russia’s richest man, Alisher Usmanov, richer than India’s Lakshmi Mittal and running neck and neck with India’s Mukesh Ambani with his $20 billion net worth.
With a current market cap of $20.5 billion, Dangote Cement becomes the first Nigerian company to achieve a market capitalization of over $20 billion.
Dangote told Forbes Wealth Editor Luisa Kroll at Davos in 2011 that he expected his firm to have a market cap of $60 billion within five years. He is still living up to the $60 billion net worth dreams as he is set to launch Dangote Refinery.
The Pipeline Infrastructure at the Dangote Petroleum Refinery is the largest anywhere in the world, with 1,100 kilometres to handle 3 Billion Standard Cubic feet of gas per day. The Refinery alone has a 400MW Power Plant that can meet the total power requirement of Ibadan DisCo.
The Dangote Refinery Complex according to the company will cost $19 billion to build. This is more than 90% of his current net worth of over $20 billion. If the refinery eventually goes live, Aliko Dangote might come closer to $60 billion net worth.
Dangote debuted on the billionaire’s list in 2008 with a net worth pegged at $3.3 billion by FORBES. His fortune dropped to $2.5 billion in 2009 and plunged further to $2.1 billion in 2010. His net worth surged 557% in 2011 to $13.8 billion after he took Dangote Cement public. He dropped to $11.2 billion in last year’s rankings but rebounded at $16.1 billion this year. Since March, Aliko Dangote net worth has jumped another 30% to $20b.
Dangote Cement currently accounts for more than a quarter of the total market capitalization of the Nigerian Stock Exchange. The second-largest company on the Nigerian Stock Exchange (NSE) is currently Nigerian Breweries, West Africa’s largest manufacturer of Alcoholic and non-alcoholic beverages. The company has a market cap of $8.5 billion.
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