Glo chair Adenuga makes billionaires’ list
COMMODITÉS giant Aliko Dangote is Africa’s richest man, with a networth of $13.8 billion, according to the Forbes annual world’s billionaires ranking released yesterday.
Also on the Forbes list for the first time is Chairman of Globacom Dr. Mike Adenuga, who is valued at $2 billion.
The two Nigerians are among the 14 Africans on the 2011 Forbes Rich list. The others are four South Africans and eight Egyptians.
Aliko Dangote’s fortune surged 557 per cent in the past year. He moved from 436 position in 2010 to 51 in 2011, making the Dangote Group president the world’s biggest gainer in percentage terms and Africa’s richest individual, for the first time.
Adenuga’s Globacom recently launched a 4G network. He has invested $1 billion in a submarine cable connecting Nigeria to the rest of the world. He owns a stake in the Equitorial Trust Bank, and huge interests in the oil sector.
With presence in 14 African countries, Dangote has emerged the continent’s biggest cement maker, contributing significantly to other countries’ economy.
Dangote began his career as a commodities trader; built his Dangote Group into a conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, real estate, oil and gas, among others.
Dangote is now richer than longtime white South African billionaires Nicky Oppenheimer of Debeers and Johann Rupert of Luxury goods group Richemont, which owns Cartier, Dunhill and other premium brands.
For now, he’s gearing up to introduce Dangote Cement to foreign investors.
According to analysts at Thaddeus Investment Advisers, the Nigerian market is too shallow for a stock of Dangote Cement’s size to be listed on the exchange; this is why the balance of the free float will be listed outside of Nigeria. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering in London later this year.
Mallam Nasir el-Rufai, former Minister of Federal Capital Territory, described Dangote as a rare breed and the pride of Africa. He said: "When the producer of the BBC documentary described Dangote as the wealthiest black man in the world, several people challenged him. Well, Forbes just released their rich list today and you guessed it, Dangote is not only the richest black man, but he is also richer than Mark Zuckerberg, founder of Facebook. The Nigerian spirit is an excellent spirit. Believe it today and always."
Mexico’s Carlos Slim, the telecoms magnate, tops the list for the second consecutive year
His fortune grew by more than a third to $20.5bn (£12.65bn) to $74bn, beating Microsoft founder Bill Gates ($56bn) and investment guru Warren Buffett ($50bn), who are second and third.
There is a record 1,210 billionaires, according to Forbes, adding 200 more to the list from last year.
The US has the highest number of billionaires, with 413. Asia, for the first time in a decade, has more billionaires on the list than Europe, with 332 against 300.
China has 115 billionaires and Russia has 101 – Moscow is now home to more billionaires than any other city in the world.
Moscow has 79 billionaires and Russia has the most in Europe. Germany has the second most in Europe with 52.
The UK has 32 billionaires on this year’s list, three more than last year.
Gerald Cavendish Grosvenor and family, who are the only Britons to make it into the top 100 with a net worth of $13bn, saw their wealth grow $1bn from last year, despite the property slump.
Other notable Brits on the list include David and Simon Reuben, who came 114th with a fortune of $8bn and retail magnates Philip and ChristinaGreen 132
, with a fortune of $7.2bn.
Bernie Ecclestone and his family are 254
, with $4.2bn and entrepreneur Richard Branson has the same wealth as Ecclestone.
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