For the seventh year in a row, the President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has been adjudged as the richest man in Africa with a net worth that Forbes pegged at $12.2bn for 2017. That was an increase of $100m from a year earlier.
Bill Gates maintained his position as the richest in the world with a net worth of $86bn, while Warren Buffet and Jeff Bezos were second and third, respectively with a net worth of $75.6bn and $72.8bn.
“Dangote is looking beyond cement – his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter of this year,” Forbes stated. Dangote was recently the only African selected among Bloomberg’s world 50 best persons in the year 2017.