In the wake of his $18 billion refinery commencing operations, Aliko Dangote, Nigeria's and Africa's richest individual, experienced a shift in his billionaire status. Recent figures from the Bloomberg Billionaire Index show a notable change: previously ranked as the 111th richest globally before December, Dangote now holds the 128th spot. This shift in Dangote's fortune comes as his net worth dipped from $16.2 billion to approximately $15.1 billion.
The decline in Dangote's wealth was further impacted by a $117 million loss on Friday, December 22, 2023, causing a further slide down the billionaire rankings. Despite this, Dangote's refinery, which initially received around two million barrels of crude oil for production, has ambitious plans. It aims to initially produce 350,000 barrels before ramping up to its full capacity of 650,000 barrels by the end of 2024.
Meanwhile, the Dangote Refinery recently took in an extra one million barrels of crude oil, gearing up for full-scale production. This latest delivery, confirmed on Tuesday, December 18, 2023, adds to the initial one million barrels received earlier. As reported by Legit.ng, the refinery's first purchase was of the Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO).
Despite a challenging 2023, which saw Dangote's wealth decline by over $5 billion amid Nigeria's foreign exchange reforms, Dangote Cement, his primary income source, continues to thrive. It remains a top performer on the Nigerian Exchange Limited (NGX), with its share price reaching a high of N320, up from N280 in October. Dangote still tops the list of Africa's wealthiest, closely followed by South Africa's Johann Rupert.
In other billionaire news, Mark Zuckerberg, CEO of Meta, made a significant leap in 2023. Starting the year below the 20th position, Zuckerberg has now ascended to the sixth spot in global billionaire rankings. This dramatic rise, marked by an $80 billion increase in his wealth, puts him just behind Steve Balmer, former Microsoft CEO, with a net worth nearing $128 billion, only $2 billion less than Balmer. This shift underscores Zuckerberg's rapidly growing influence in the global financial landscape.
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