Nigeria’s richest man, Aliko Dangote, has dropped in ranking on the list of the world’s wealthiest people in the last month.
Data from Forbes showed that Dangote’s wealth, which stood at $11.5 billion as of January 8, 2025, had dropped to $10.9 billion as of February 7, 2025.
The changes represented a $600 million (N904.56bn) loss in wealth for Dangote, affecting his ranking, which dropped from 195th to 226th in the world.
During this one month, the Nigerian billionaire also lost his title as Africa’s richest man to South African billionaire Johann Rupert.
Dangote now ranks number two in Africa
Dangote, who held the top spot as Africa’s richest man on the Forbes list for 12 years and reached his highest level in 2014, is now behind Rupert.
Checks showed that within the one month under review, Rupert’s net worth increased by $2.8 billion, rising from $11 billion in January to its current level of $13.8 billion.
Rupert now leads the ranking as Africa’s richest man and is the only African in the top 200 billionaires in the world.
Changes in Nigerian billionaire’s net worth in one month
Forbes data showed that Mike Adenuga’s net worth slightly increased from $6.8 billion in January to $6.9 billion.
Abdulsamad Rabiu, the third richest man in Nigeria, now has a net worth of $5.1 billion, a slight increase from the $4.9 billion recorded in January.
Femi Otedola also saw his net worth rise from $1.6 billion to $1.7 billion
Why did Dangote’s wealth drop?
Dangote’s net worth is tied to various investments, including Dangote Cement and the continent’s largest oil refinery. His portfolio also includes sugar, salt, oil, fertilizer, and packaged food.
Over the past month, one of his assets, Dangote Sugar, saw a decline in share price, dropping from a high of N40.50 to N35.80 as of February 7, 2024, according to data from the NGX.
This and the naira’s performance in recent times played a role in the net worth movement of Aliko Dangote.
Dangote advertises petrol
Legit.ng earlier reported that Dangote Refinery released an advertisement on its social media handles, calling for patronage.
The refinery recently announced a price reduction, lowering prices from N950 per litre to N890 for marketers purchasing directly from its facility.
