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Friday, June 14, 2024

Dangote, Rabiu, Adenuga gain $15.5bn in three weeks.

In the span of three weeks, Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga collectively gained $15.5 billion, reaching a combined wealth of $33.6 billion, as reported by Forbes’ Real-Time Billionaires ranking.

Dangote’s fortune surged by $9.1 billion to $18.5 billion, Rabiu’s wealth increased by $2.4 billion to $8.1 billion, and Adenuga’s grew by $4 billion to $7 billion.

Despite challenges such as political uncertainty and currency devaluation, Dangote maintained his position as Africa’s richest person for the 13th consecutive year.

The billionaires’ wealth is closely tied to the performance of their listed companies, with the rising share prices contributing to the overall increase.

This positive trajectory contrasts with a previous decline in wealth attributed to the liberalization of the foreign exchange regime in June. Forbes noted that Dangote temporarily lost his top spot in June but has since reclaimed it, showcasing the resilience of his business endeavors.

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