Refinery operations boost Dangote’s net worth 100% to $28bn

Dangote Refinery, situated within the Lekki Free Trade Zone in Ibeju-Lekki, Lagos, is reputed to be the world’s largest single-train oil refinery and one of the most advanced, with the capability to process a wide range of global crude oil types.

“The refinery has the potential to transform Nigeria’s economy by making the country self-sufficient in fuel production. And it has more than doubled his net worth to $27.8 billion,” stated Bloomberg.

With this lee development, Aliko Dangote, remains the richest man in Africa. Dangote is also ranked the 65th richest man in the world.

Bloomberg, in its latest Top 500 Billionaires Index released on Thursday, revealed that Dangote with a wealth of $28 billion had his wealth increased significantly after the commencement of operations of his newly built Petrochemical refinery, said to be worth over $20 billion.

This new ranking is the highest the renowned entrepreneur has risen.

He was previously ranked 83rd in 2022.

No African is close to Dangote’s latest ranking as Johann Rupert, of South Africa is 174 on the world list, with a wealth of $13.6bn and Nicky Oppenheimer also of South Africa is number 224 on the world list with a wealth of $11.6bn.

Other Africans on the list are: South Africa’s Natie Karsh, number 297 in the world with a wealth of $9.25bn, Egypt’s Nassef Sawiris on number 302 in the world with a wealth of $9.16bn, and Naguib Sawiris also of Egypt with a wealth of $7.37bn on number 407 in the world.

Elon Musk and Jeff Bezos are the richest in the world with $242 billion and $210 billion respectively in their kitties while Mark Zuckerberg and Larry Ellison followed respectively with $204 billion and $185 billion on the world’s billionaires’ chart.