By Osagie Alonge
Nigerian billionaire and Africa’s richest man Aliko Dangote has become the first African entrepreneur to reach the $20 billion mark, Forbes says.
According to Forbes, Dangote’s 93 per cent stake in his cement company is now worth $19.5 billion. Add this to his controlling stakes in other publicly-listed companies like Dangote Sugar and National Salt Company of Nigeria and his significant shareholdings in other blue-chips like Zenith Bank, UBA Group and Dangote Flour; his extensive real estate portfolio, jets, yachts and current cash position, which includes more than $300 million in recently awarded Dangote Cement dividends, Dangote is now worth more than $20 billion’.
Dangote now joins the top 25 richest people in the world, richer than Russia’s richest man, Alisher Usmanov, India’s Lakshmi Mittal. He is catching up to such Americans as Google’s billionaire founders Larry Page and Sergey Brin.
The unprecedented surge in Dangote Cement’s share price is largely a market response to the company’s impressive 2013 Q1 results.
Additional reports from Forbes.
1 comment
Upon All this $20 billion dollars, Hungry are killing people in Nigeria and you forgot when u died they can’t berry u with all the $20b