Dangote drops out of world’s richest 100 people bracket

Nigeria’s Aliko Dangote retains the richest man in Africa slot in 2024, but he is not ranked among the first 100 billionaires in the world.

With a net worth of $13.4 billion, Dangote is the richest man in Africa according to Forbes World’s Billionaires List 2024, but the Nigerian business tycoon is the 144th richest man in the world.

Dangote, 66, founded and chairs Dangote Cement, the continent’s largest cement producer. He has now delved into the oil business and his fortune is expected to swell in the coming years.

According to Forbes list, he and South Africa’s Johann Rupert are the only two Africans to make the World’s top 200 richest men.

Rupert, with a net worth of $12.2 billion, is the 162nd richest man in the world at age 73. He is into Fashion and Retail.

Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont.

However, Bernard Arnault, 75, is the richest man in the world. The French man into Fashion and Retail has a net worth of $233 billion

Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.

Elon Musk is now the second richest man in the world. The 52 years old business tycoon has a net worth of $195 billion.

The U.S man is into automotive. Musk cofounded six companies, including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company.

Jeff Bezos is the third richest man in the world. The 60-year-old has a net worth of $194 billion and he is into technology.

Jeff Bezos founded e-commerce giant Amazon in 1994 out of his Seattle garage.

Mark Zuckerberg, 39, is the fourth richest man in the world. He is into technology. He has a net worth of $177 billion.

A 19-year-old Mark Zuckerberg started Facebook in 2004 for students to match names with photos of classmates.

According to Forbes, the world’s billionaires’ fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation.

Forbes said there are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021.

“They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021. Two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer.

“Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S, which now boasts a record 813 billionaires worth a combined $5.7 trillion. China remains second, with 473 (including Hong Kong) worth $1.7 trillion, despite weak consumer spending and a real estate bust that helped wipe out $200 billion in wealth and knocked 89 billionaires from the ranks.

“India, which has 200 billionaires (also a record), ranks third. To calculate net worths, we used stock prices and exchange rates from March 8, 2024,” Forbes said.

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