Connectnigeria Articles

Four Nigerian billionaires, Aliko Dangote, Folorunsho Alakija, Abdulsamad Rabiu and Mike Adenuga’s net worth grew by N2.024 trillion ($12.65 billion) in 2013, according to Forbes.

This was revealed in a report released by Forbes Africa titled, “The Biggest African Billionaire Gainers in 2013”, listing Dangote, Africa’s richest man, as the biggest gainer in terms of increase in net worth. Dangote made $10.1 billion (N1.62 trillion) in 2013, to end the year with a net worth of $22.9 billion (N3.66 trillion), up from $12.8 billion as at the end of December 2012. Nigeria’s richest woman, Folorunsho Alakija, owner of Famfa Oil Limited, was named the fourth biggest gainer in 2013, as her wealth increased by $1.9 billion (N304 billion) to end the year with a net worth of $2.5 billion (N400 billion). Chairman, BUA Group, Abdulsamad Rabiu, was named the ninth biggest African gainer in 2013 by Forbes, with a $550 million (N88 billion) increase in wealth to end the year with a total net worth of $1.2 billion (N192 billion). Nigeria’s second richest man and Chairman of Globacom, Mr. Mike Adenuga, was named the 15th biggest gainer, with a gain of $100 million (N16 billion) to end the year with a net worth of $4.7 billion (N752 billion). According to Forbes, the biggest catalyst for the increase in Dangote’s net worth was his Dangote Cement shares, which has experienced a 74 per cent run-up over the last 12 months. Coming as a surprise, the total amount made by these billionaires is about half of the N4.99 trillion budget of the Federal Government for 2013 fiscal year.

You might also like:

This article was first published on 8th January 2014

michael-abimboye

Comments (1)

One thought on “Four Nigerian Billionaires Make $12.65 Bn in 2013”

Giraud

I didn’t have any expectations concerning that name,
but then the more I was astonished. The author did a fantastic job.

7th December 2019 11:25 am
Reply