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Aliko Dangote’s wealth increased in November by $1.5 billion

His net worth grew by $1.5 billion in November, according to the Bloomberg Billionaires Index, which measures and…

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Aliko Dangote's wealth increased

Following a huge $200 million gain in October, the wealthiest individual in Africa experienced a net worth increase of $1.5 billion last month. He is now ranked 81st richest man in the world with a net worth of $19.1 billion.

His net worth grew by $1.5 billion in November, according to the Bloomberg Billionaires Index, which measures and compares the fortunes of the 500 richest people in the world. This reversed losses of $611 million in the first 10 months of 2022.

The surge in stock prices of Dangote Cement Plc, which returned to bullish domination after several months of bearish performances, is credited with the increase.

READ MORE: Dangote and BUA Cement shareholders gain N400 billion

A large portion of Aliko Dangote’s riches came from his 86 percent ownership of the $8.64 billion-worth Dangote Cement. Additionally, his $5 billion fertilizer factory, which has the capacity to produce up to 2.8 million metric tons of urea annually, is responsible for his growing riches.

The Nigerian billionaire joined Abdul Samad Rabiu, who has seen a considerable boost in his fortune this year, with the billion-dollar increase in his net worth that erased his year-to-date wealth loss of $611 million at the beginning of the month.

As he continues to make strategic investments in his sugar company in compliance with the requirements of the Nigeria Sugar Master Plan, Aliko Dangote declared that his investment will generate at least 300,000 employment in Nigeria.

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