Dangote is Now The 43rd Richest Man In The World - Frobes

With a net worth of $16.1bn as of March 2013, the
President, Dangote Group, Alhaji Aliko Dangote,
has moved up in the latest world richest ranking to
number 43 from 76 in 2012.

According to the list which was released on Monday
by Forbes, Dangote and the Chairman of Globalom,
Dr. Mike Adenuga were the only Nigerians on the
list.
Dangote, 55, however, retained his position as the
richest man in Africa and the richest among
manufacturers in the world with a net worth of
$16.1bn.
Adenuga, 59, on the other hand, ranked 269 on the
list with a net worth of $4.7bn.
The world billionaires, list presented Carlos Slim
Helu, a Mexican as the world richest man with a net
worth of $73bn, while Bill Gates of United States
came second with a net worth of the $67bn.
Others are Armancio Ortega of Spain ($57bn);
Warren Buffet, United States ($53.5bn); and Larry
Ellison of US with $43bn net worth, coming third,
fourth and fifth, respectively.
Forbes said, "To compile net worths, we value
individuals' assets, including stakes in public and
private companies, real estate, yachts, art and cash
– and account for debt.

"We attempt to vet these numbers with all
billionaires. Some cooperate; others don't. We also
consult an array of outside experts in various
fields."
The past year has been eventful for Dangote. In
October, he sold off a controlling stake in his flour
milling company to Tiger Brands of South Africa
and pocketed $190m in cash.

In February, his Dangote Sugar Refineries acquired
a 95 per cent stake in Savannah Sugar in a bid to
maintain its dominant position in the Nigerian
sugar industry.

Dangote started building his fortune more than
three decades ago when he began trading in
commodities like cement, flour and sugar with a
loan he received from his maternal uncle.
He delved into full production of these items in the
early 2000s and went on to build the Dangote
Group, West Africa's largest publicly-listed
conglomerate, which now owns sugar refineries,
salt processing facilities and Dangote Cement.




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