Business mogul, Aliko Dangote, is the only Nigerian to make a list of 500 billionaires published by Bloomberg Billionaires Index on Tuesday.
The index which was updated by the close of business at the New York Stock Exchange and showed that Dangote, ranked 115th, was the richest African and the only Nigerian on the list with a net worth of $17.8bn, an increase from $14.8bn the previous year.
“In calculating net worth, Bloomberg strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied,” Bloomberg said.
Dangote is the largest shareholder in Dangote Industries Limited, which owns investments in cement, sugar, salt and fertiliser.
Other Nigerian billionaires, including Mike Adenuga and Abdulsamad Rabiu, were missing on the list. Their net worth fell short of American billionaire Buba Cathy, who placed 500th with a net worth of $5.83bn as estimated by Bloomberg.
Other Africans on the index included three South Africans, namely Johann Rupert and family, worth $10.1bn; Nicky Oppenheimer with a worth of $7.80bn; and Natie Kirsh, worth $7.15bn. Nassef Sawiris from Egypt is also among the African billionaires on the list with a net worth of $6.93bn.