Aliko Dangote, founder of Dangote Group and President of Dangote Petroleum Refinery, has risen to the 36th position on the global billionaires’ ranking after his net worth surged to $51.3 billion.
According to Forbes’ Real-Time Billionaires List, Dangote’s wealth increased by $19.9 billion on Monday, representing a 63.37 per cent rise from the $31.4 billion valuation recorded on Sunday.
The latest increase moved the Nigerian industrialist 40 places higher on the global ranking, from 76th to 36th.
The sharp rise in Dangote’s fortune follows the launch of the initial public offering (IPO) of the Dangote Refinery, one of Africa’s largest petroleum refineries.
With the latest valuation, Dangote remains Africa’s richest person and has strengthened his position among the world’s wealthiest individuals.
The Dangote Refinery, located in Lagos, has a processing capacity of 650,000 barrels of crude oil per day and is a major component of the Dangote Group’s investments in Nigeria’s oil and gas sector.
