These are certainly wonderful times for Aliko Dangote, the president of the Dangote Industries Limited (DIL), as he has doubled his wealth to a record $27.8 billion, following the operationalisation of his multibillion-dollar oil refinery.
According to reports from the Bloomberg Billionaires Index, Dangote’s net worth went up by $15.1 billion to $27.8 billion as at October 18.
The renowned billionaire businessman moved up to 65th position, making him the only African in the top 100 spot.
The rise places Dangote more than 100 spots ahead of Johann Rupert, the South African billionaire, who is ranked 174th.
Dangote’s increased net worth jerked him up the index more than 40 places from his 111th position on June 30, 2023.
This development is coming more than a year after his refinery was inaugurated May 2023.
Dangote Refinery started producing diesel on January 12, and petrol production started September 3
