Forbes, the renowned global business magazine, has unveiled its prestigious list of billionaires for 2024, featuring prominent Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola among its ranks.
According to Forbes Real-Time Billionaires released on Tuesday, the combined wealth of Nigeria’s top three richest individuals experienced a slight dip of 11.23 percent to $25.3 billion. The trio comprises Aliko Dangote, the President/Chief Executive of the Dangote Group; Abdul Samad Rabiu, the Chairman of BUA Group; and Mike Adenuga, the founder of Globacom.
Dangote, a stalwart of African business, saw his fortune marginally decrease from $14.2 billion in 2023 to $13.4 billion in 2024. Similarly, Rabiu’s wealth dipped to $5.2 billion from $8.2 billion the previous year. In contrast, Adenuga’s fortune witnessed a slight uptick from $6.1 billion to $6.7 billion within the span of a year.
Adding to the roster of Nigerian billionaires is Femi Otedola, a renowned business magnate, and philanthropist, with a net worth of $1.4 billion.
Ranked at number 144 on the Forbes list, Aliko Dangote retains his title as the richest man in Africa and the wealthiest Black man globally. His conglomerate, the Dangote Group, stands as one of the largest private-sector employers in Nigeria and the most valuable conglomerate in West Africa.
Mike Adenuga, positioned at number 409, is celebrated for his telecom empire, Globacom, Nigeria’s second-largest telecom operator, with a presence in Ghana and Benin Republic. Adenuga also holds stakes in the oil exploration firm, Conoil.
Abdulsamad Rabiu, ranked at number 581, is recognized as a Nigerian billionaire businessman and philanthropist. He is the founder and chairman of BUA Group, a Nigerian conglomerate focusing on manufacturing, infrastructure, and agriculture.
Femi Otedola, making his debut on the billionaire list, is positioned at number 2,152, with a net worth of $1.4 billion. He is the executive chairman of Geregu Power Plc, the founder of Zenon Petroleum and Gas Limited, and a prominent figure across various industries, including shipping, real estate, and finance.
Forbes’ “World’s Billionaires List” showcases 2,781 individual billionaires globally, reflecting a surge in wealth despite geopolitical tensions and economic uncertainties. The magazine underscores the resilience of global stock markets and the soaring fortunes of billionaires, with an aggregate wealth of $14.2 trillion.
The latest edition of Forbes’ billionaire list captures the dynamic nature of wealth accumulation, featuring 265 newcomers, including Italian business magnate Andrea Pignataro and notable personalities like Todd Graves, the founder of Raising Cane’s fast-food chain, and the cofounders of fast-fashion giant Shein.
Forbes’ meticulous methodology utilizes stock prices and exchange rates from March 8, 2024, providing a snapshot of wealth in the global economy.
