Nigerian Aliko Dangote remains Africa’s richest person with a net worth of $11.6 billion, according to a ranking of billionaires released by Forbes on Tuesday.
Mr. Dangote, 63, was ranked 190th richest person in the world, gaining additional $205 million amid the coronavirus economic catastrophe.
Aliko Dangote founded and chairs Dangote Cement, the continent’s largest cement producer, and owns 85% of publicly-traded Dangote Cement through a holding company.
Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa.
Africa’s richest person, who is divorced with three children, also owns stakes in publicly-traded salt and sugar manufacturing companies.
Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.
Worldwide, the number of billionaires on Forbes’ 35th annual list of the world’s wealthiest increased to 2,755—660 more than a year ago. Altogether they are worth $13.1 trillion, up from $8 trillion on the 2020 list.