Maintaining his position as Africa's wealthiest individual for the 12th consecutive year, Dangote remains the sole Nigerian on the list of the top 500 billionaires. Among the other Africans featured in the latest top 500 world billionaires list for 2023 are Johann Rupert and family of South Africa, with a net worth of $13.3 billion, as well as Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris, with fortunes of $9.0 billion, $7.47 billion, $7.37 billion, and $5.93 billion, respectively. These five individuals are the only other Africans included in the list.
The Bloomberg Billionaires Index is a dynamic ranking that provides a daily assessment of the world's richest people. Bloomberg News strives to offer transparent calculations for net worth, and each billionaire's profile includes a detailed analysis of how their fortune is determined. The index takes into account changes in markets, the economy, and Bloomberg reporting. Net worth figures are updated daily after the close of trading in New York, with stakes in publicly traded companies valued based on the most recent closing price of their shares. Valuations are then converted to U.S. dollars using current exchange rates.
At the global level, Elon Musk and Bernard Arnault hold the top spots as the richest individuals, with fortunes of $219 billion and $194 billion, respectively. Jeff Bezos and Bill Gates follow closely with $151 billion and $130 billion, respectively, while Larry Ellison ranks as the fifth richest person with $130 billion on the world's billionaires' chart.
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With a new worth of $15.6 billion, Aliko Dangote, Africa's richest man, controls Dangote Industries, a closely-held conglomerate based in Lagos, Nigeria. The company owns Dangote Cement, the largest cement producer in sub-Saharan Africa, and also has interests in sugar, salt, fertiliser, and packaged foods. Recently, Dangote commissioned the $19 billion petroleum refinery plant, which now stands as Africa's largest refinery.
It is worth noting that Aliko Dangote was recently recognised as one of the most charitable individuals in the world by Richtopia, a digital periodical based in the United Kingdom that covers business, economics, and financial news. This recognition came after Dangote endowed his foundation, the Aliko Dangote Foundation (ADF), with a generous sum of $1.25 billion.
Established in 1981, the Aliko Dangote Foundation aims to promote social change through strategic investments in health and wellbeing, quality education, and economic empowerment opportunities. The Foundation was formally incorporated as a charity in Lagos, Nigeria, in 1994 and has grown to become the largest private foundation in sub-Saharan Africa, boasting the largest endowment by a single African donor. The primary focus of the Aliko Dangote Foundation is on health and nutrition, with additional interventions in education, empowerment, and humanitarian relief.