Aliko Dangote might be on a race to losing his status as Africa’s richest man as his fortunes keep on dwindling in the light of Mike Adenuga’s increasing wealth.
For a long streak of eighth consecutive years, Aliko Dangote has continuously ranked as the richest black man in the world. But after losing roughly $2 billion in 2018, his wealth shrinked from $12.2 billion as at January 2018 to $10.3 billion in 2019 .
Conversely, the chief executive officer of Globacom, Mike Adenuga who also have investments in oil exploration and real estate, saw his wealth take a giant leap from $5.3 billion to $9.2 billion in the latest Forbes Africa ranking.
With just a margin of roughly $1bn between the two richest men in Africa, there’s an increasing wave of curious expectation that Mike Adenuga might overtake Aliko Dangote whose net worth declined after 20% drop in the stock price of Dangote Cement, his most valuable asset.
Forbes revealed that many billionaires in Africa like Dangote were experiencing a decrease in their net worth due to plunging stock prices and weaker currencies. But ii’s quite surprising that Adenuga somehow weathered the storm and reversed the trend by gaining $3.9 billion in the same market within the year.
The list futher disclosed that Nigeria currently has a total number of four billionaires; Aliko Dangote – $10.3bn; Mike Adenuga – $9.2bn; Abdulsamad Rabiu – 1.6bn; and Folorunsho Alakija – $1.1bn.
But with a massive refinery and petrochemical company in construction, Aliko Dangote is most likely going to bounce back and continue to lead the pack of billionaires in Africa.