Dangote, Adenuga, Rabiu, Otedola Tops list as Forbes Reveals Nigeria’s Wealthiest in 2024

Forbes, the renowned financial publication, has unveiled its latest ranking of Nigeria’s wealthiest individuals for 2024. Leading the pack are Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola.

The collective wealth of Nigeria’s top three richest magnates experienced a slight decline of 11.23 percent, totaling $25.3 billion, according to the Forbes Real-Time Billionaires release on Tuesday. This marks a decrease of $3.2 billion from the previous year.

At the forefront of the ranking are Aliko Dangote, Abdul Samad Rabiu, and Mike Adenuga. Dangote’s fortune saw a modest reduction from $14.2 billion in 2023 to $13.4 billion in 2024. Rabiu’s wealth decreased marginally to $5.2 billion from $8.2 billion the previous year.

Conversely, Adenuga’s net worth experienced a slight uptick from $6.1 billion to $6.7 billion within one year.Joining the billionaire roster is Femi Otedola, emerging as a newcomer with a net worth of $1.4 billion.

Dangote who ranks 144th on the Forbes list, maintains his status as Africa’s richest man and the wealthiest Black man globally. His conglomerate, the Dangote Group, stands as one of Nigeria’s largest private-sector employers and the most valuable conglomerate in West Africa.

Adenuga is positioned at number 409, known for investments in telecommunications, notably through Globacom, Nigeria’s second-largest telecom operator, and ventures in oil exploration through Conoil.

Rabiu, ranked 581, is recognized as a Nigerian billionaire and philanthropist, credited as the founder and chairman of BUA Group, specializing in manufacturing, infrastructure, and agriculture, with revenue exceeding $2.5 billion.

Otedola is listed at 2,152, and boasts a diverse portfolio across sectors like petroleum, shipping, real estate, finance, and power generation.

Forbes also provides insights into the global billionaire landscape, noting a record-breaking count of 2,781 billionaires worldwide, with combined wealth reaching $14.2 trillion.

The publication highlights the resilience of billionaire fortunes amidst global economic uncertainties, attributing much of the gains to the top 20 billionaires, particularly in the United States and China.

Notable newcomers to the list include individuals from various industries, showcasing the dynamic nature of wealth creation on a global scale.The “World’s Billionaires list” compiled by Forbes used stock prices and exchange rates from March 8, 2024, offering a snapshot of global wealth distribution and economic trends.

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