Dangote And Others worth N2.4trn in 2013


Aiko_Dangote_Femi_OtedolaAccording to a Forbes Report, the combined net worth of four Nigerian billionaires, Aliko Dangote, Mrs. Folorunsho Alakija, Abdulsamad Rabiu and Mike Adenuga, grew by a total of N2.024 trillion ($12.65 billion) in 2013.

Forbes, in a report entitled The Biggest African Billionaire Gainers in 2013, listed Dangote, Africa’s richest man, as the biggest gainer in terms of increase in net worth.

He gained $10.1 billion (N1.62 trillion) in 2013, to end the year with a net worth of $22.9 billion (N3.66 trillion), up from $12.8 billion as at the end of December 2012.

The fourth biggest gainer in 2013 is Nigeria’s richest woman, Folorunsho Alakija, owner of Famfa Oil Limited, her wealth increased by $1.9 billion (N304 billion) to end the year with a net worth of $2.5 billion (N400 billion).

Forbes named Abdulsamad Rabiu, Chairman, BUA Group, in 2013, with a $550 million (N88 billion) increase in wealth to end the year with a total net worth of $1.2 billion (N192 billion), as ninth biggest gainer.

Nigeria’s second richest man and Chairman of Globacom, Mr. Mike Adenuga, was named the 15th biggest gainer, with a gain of $100 million (N16 billion) to end the year with a net worth of $4.7 billion (N752 billion).

According to Forbes, the biggest catalyst for the increase in Dangote’s net worth was his Dangote Cement shares, which has experienced a 74 per cent run-up over the last 12 months.

Forbes reveals that the increase in Folorunsho Alakija’s net worth is as a result of new information made available to it on the true value of her company’s interest in Agbami, information that had been verified by analysts in the industry.

On Abdulsamad Rabiu, is a first timer on the list, joining the ranks of Africa’s richest and the world’s billionaires for the first time based on success at his BUA Group, whose biggest businesses are sugar refining and cement.

“BUA Group annual revenues are estimated at $2 billion. The group also does business in real estate, steel, port concessions, manufacturing, oil gas and shipping.

The total amount gained in wealth by these billionaires are about half of the N4.99 trillion budget put forward by the Federal Government and approved by the National Assembly in the 2013 fiscal year.



World’s Richest

In a related development, the Bloomberg’s billionaire’s index showed that the 300 richest people in the world increased their deep pockets with $524 billion.

Bill Gates, the man who is the most generous giver on earth, is also the richest individual, according to the Bloomberg report. He’s donated $28 billion to the Bill & Melinda Gates Foundation.

Gates net worth ballooned by $15.8 billion to $78.5 billion, according to the index, as shares of Microsoft, the world’s largest software maker, rose 40 percent in 2013.

Bloomberg said that the 58 year-old software tycoon recaptured the title of world’s richest person on May 16 from Mexican investor Carlos Slim.

Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and sanitizing-products maker Ecolab Inc., which rose 34 percent and 45 percent respectively.

Gate’s increasing wealth is typical of the experience of the world’s richest in 2013. Bloomberg says the world’s richest even got richer, in a trend that will further sadden the world’s poorest as the rich take everything away.

“The aggregate net worth of the world’s top billionaires stood at $3.7 trillion at the market close on Dec. 31, according to the ranking. The biggest gains came in the technology industry, which soared 28 percent during the year. Of the 300 people who appeared on the final ranking of 2013, only 70 registered a net loss for the 12-month period.

“The rich will keep getting richer in 2014,” John Catsimatidis, the billionaire founder of real estate and energy conglomerate Red Apple Group Inc., said in a telephone interview from his New York office. “Interest rates will remain low, equity markets will keep rising, and the economy will grow at less than 2 percent.”

Most of Gates’s assets are held in Cascade Investment LLC, an entity through which he owns stakes in about three dozen publicly traded companies and several closely held businesses, including Four Seasons Hotels and Resorts and Corbis Corp., a photo-archive company. Less than a quarter of Gates’s fortune is held in Microsoft.

The index for 2013 confirmed Aliko Dangote, as Africa’s richest person; although there is about $1 billion less the figure quoted by Bloomberg as against that of Forbes.  Bloomberg says he added $9.2 billion during the year.