Aliko Dangote, Africa's richest man added $915 million to his portfolio in Q1 2022
At the start of 2022, Mr. Dangote had a net worth of $19.2 billion and was ranked the 97th richest person in the world. The expectation is that the billionaire will take advantage of the situation by exporting fertilizer to the rest of the world, thus increasing his chances of increasing his net worth.
The addition of $915 million to his net worth is not the only interesting thing that happened to the billionaire during the period under review. The plant, which cost $2.5 billion to build, is currently the largest in Africa and the second largest urea plant in the whole world.
Also, during the past quarter, three of the billionaire's publicly traded companies on the Nigerian Exchange —Dangote Cement Plc, Dangote Sugar Plc, and Nascon Allied Industries — all released their audited financial statements for FY 2021 which showed positive financial indicators.
He is also the 79th richest person in the world and the only African among the top 100 richest people in the entire world. However, over the past three months, his net worth experienced some fluctuations due to stock price movements and other factors.
The Nigerian billionaire industrialist is currently worth a staggering $20 billion. The opening of the plant came at a time when the world is facing a serious food shortage risk. That's because, in the first quarter of the year, he gained a whopping $915 million, according to the Bloomberg Billionaires Index.