In the latest publication of wealth measurement across the globe, Forbes Magazine has listed businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024.
The four Nigerians are heads of leading conglomerates; the President/Chief Executive of the Dangote Group; BUA Group Chairman, Globacom boss, and the Executive Chairman of Geregu Power PLC.
According to the Forbes Real-Time Billionaires report, which was published on Tuesday, the combined wealth of the top three businessmen in Nigeria decreased somewhat by 11.23% to $25.3 billion. The amount was $3.2 billion less than the $28.5 billion the corporate moguls reported in 2023.
According to a breakdown, the Dangote group founder’s wealth dropped from $14.2 billion in 2023 to $13.4 billion. While Adenuga’s fortune climbed from $6.1 billion to $6.7 billion in just one year, the chairman of the BUA group saw a slight decline in wealth as well, from $8.2 billion in 2023 to $5.2 billion in 2024.
With a $1.4 billion total net worth, Nigerian business tycoon Otedola was announced as the newest member of the billionaire list.
Dangote was billed as the richest Black man in the world and the richest man in Africa when he was included at number 144 on the list. His economic empire, the Dangote Group, is the most valuable conglomerate in West Africa and one of the biggest employers in the private sector in Nigeria.
Adenuga, a Nigerian billionaire businessman, is listed at number 409 on Forbes’ list. His company, Globacom, is the country’s second-largest telecom provider, with operations in Ghana and the Benin Republic. He has stock in Conoil, an oil exploration company. In 2024, Forbes projected his net worth to be $6.7 billion.
Founder and chairman of BUA Group, a Nigerian conglomerate focused on manufacturing, infrastructure, and agriculture with turnover exceeding $2.5 billion, Rabiu is a millionaire businessman and philanthropist from Nigeria. He was placed 581st on the Forbes list.
Otedola is the executive chairman of Geregu Power Plc and a philanthropist and businessman from Nigeria. He has a $1.4 billion net worth and is ranked 2,152. In addition to founding Zenon Petroleum and Gas Limited, he is the proprietor of numerous other companies in the financial, real estate, and shipping industries. As part of Nigeria’s industry liberalization, he just invested in the production of electricity.
Globally, there are 2,781 individual billionaires, according to Forbes. It declared 2024 to be the year of the world’s billionaires, whose wealth keeps rising as stock markets around the world ignore conflict, political turmoil, and persistent inflation.