Nigerian philanthropist and business tycoon Aliko Dangote’s net worth has crossed the $20B mark, thanks to his cement company Dangote Cement, which surpassed the $11B market cap, standing as the first Nigerian company hit such level.
With a market capitalization of $11B, Dangote Cement is now Nigeria’s largest firm, surpassing Airtel Africa, which is valued at $8.3B. In addition, Dangote’s newly built oil refinery has also drawn in a lot of investors who have staked significant funds on the prospect of the refinery dominating Africa’s oil network.
The investments have soared Dangote’s total net worth to $22B and is currently ranked world’s 83rd richest person, and Africa’s first.
