Nigerian industrialist and multi-billionaire, Aliko Dangote, became $4.3 billion richer in 2019, although that did not stop him from dropping further down the list of the world’s wealthiest.
Bloomberg reports that Mr Dangote’s fortune continued to grow following investments in cement, flour and sugar.
Mr Dangote, widely reputed as Africa’s richest man, ended the last decade with a net worth of almost $15 billion, according to the Bloomberg Billionaires Index.
The development makes the 62-year-old Nigerian businessman the 96th wealthiest man in the world, according to data from the index. Further down his high of 25th.
The billionaire mogul was born into a wealthy family of prominent traders in Kano. At a relatively young age of 21, Mr Dangote incorporated his own cement business.
He has since diversified into manufacturing of different goods, spreading his tentacles across the African continent.
One of his numerous companies is the Dangote Cement Plc, a Nigerian multinational publicly traded cement manufacturer headquartered in Lagos.
The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria and has plants or import terminals in about nine other African countries.
