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Dangote, Adenuga, Rabiu, Otedola Shine On Forbes Rich List | Citizen NewsNG

ByCitizen NewsNG

Apr 3, 2024


By Tanko Lami


Four prominent Nigerian industrialists, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola, have been recognised in Forbes’ 2024 list of the world’s richest individuals.

Despite economic challenges including the devaluation of the naira and inflation, these entrepreneurs secured positions on the list.

According to the latest release, Dangote’s fortune surged to $13.4 billion, with Adenuga at $6.7 billion, while Rabiu and Otedola amassed fortunes of $5.2 billion and $1.4 billion, respectively.

The report highlights a record-breaking number of billionaires globally, totaling 2,781 individuals, marking an increase of 141 from the previous year and surpassing the 2021 record by 26

“They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021,” it said.

“Two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer. Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion,” it added.

Bernard Arnault, holding the title of the world’s richest individual with a net worth of $233 billion, oversees the LVMH empire, comprising 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.

Dangote maintains his status as Africa’s wealthiest individual in 2024, with an estimated net worth of approximately $13.4 billion. He also holds the distinction of being the wealthiest Black person globally.

Dangote Group, his business conglomerate, stands as one of Nigeria’s largest private-sector employers and is regarded as the most valuable conglomerate in West Africa. The group’s primary focus is on the manufacturing sector, particularly in cement and sugar production.

Adenuga, boasting a net worth of $6.7 billion, specialises in telecommunications and oil ventures. His company, Globacom, ranks as Nigeria’s second-largest telecom operator and extends its operations into Ghana and Benin Republic.

Rabiu, with a net worth of $5.2 billion, focuses on cement and sugar production. He serves as the founder and chairman of BUA Group, overseeing a conglomerate dedicated to manufacturing, infrastructure, agriculture, and various other sectors.

Otedola, with a wealth of $1.4 billion, operates in the energy and utilities sector. He currently serves as the executive chairman of Geregu Power Plc and holds the position of Chairman at First Bank of Nigeria (FBN Holding).

Additionally, Otedola founded Zenon Petroleum and Gas Limited and owns several other businesses spanning shipping, real estate, and finance.

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