Dangote remains Africa’s richest man for the third year in a row.
Nigerian Cement tycoon retains his position as Africa's richest man for the third year in a row. The past year has been eventful for Dangote. In October, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa. He pocketed $190 million in cash. In February, his Dangote Sugar Refineries acquired a 95% stake in Nigerian sugar producer Savannah Sugar in a bid to maintain its dominant position in the Nigerian sugar industry.
Dangote stepped up his philanthropy in the past year, giving over $100 million to causes ranging from education to health, flood relief, poverty alleviation and the arts. He also acquired a yacht, which he named after his mother, Amiya. Dangote started building his fortune more than three decades ago when he began trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle. He delved into full production of these items in the early 2000s and went on to build the Dangote Group, West Africa's largest publicly-listed conglomerate, which now owns sugar refineries, salt processing facilities and Dangote Cement, the continent's largest cement producer. A fitness buff, Dangote jogs everyday.
According to reports by Agence France Presse (AFP) and Reuters, Slim, who controls Latin American telecommunications firm, America Movil, and retail/industrial group, Grupo Carso, came in first among the mega-rich for the fourth straight year, with a fortune estimated at $73 billion, up $4 billion from a year ago.
Microsoft Chairman, Bill Gates, a perennial top finisher in the list, placed second with $67 billion, up $8 billion from 2012. Ortega, whose Inditex fashion group includes the popular Zara chain, vaulted from the seventh position into the third spot. His wealth is now estimated at $57 billion, rocketing from $31 billion a year ago.
Berkshire Hathaway’s Warren Buffett ranked fourth with $53.5 billion, while Oracle’s Larry Ellison is fifth with $43 billion.
Asia’s richest man, Li Ka-shing, came eighth with $31 billion. He owes his fortune to his sprawling transportation, trading and energy businesses. Forbes’s 2013 list of the world’s richest people includes 1,426 billionaires, a record number, with a total net worth of $5.4 trillion, up from $4.6 trillion in the previous ranking.
Also, Mexican tycoon, Carlos Slim, Microsoft’s Bill Gates and Zara fashion house owner, Amancio Ortega of Spain, were yesterday announced as topping the Forbes list of the world’s wealthiest billionaires.
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