‘Aliko Dangote is The Richest Black Man in the World, Not Kanye West’ – Forbes

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President/Chief Executive Officer, Dangote Group, Aliko Dangote

Forbes, global media company that focuses on business, investing, technology, entrepreneurship, leadership, and lifestyle has announced the President/Chief Executive Officer, Dangote Group, Aliko Dangote as the richest black man in the world, and not the famed rapper and fashion designer, Kanye West as recently put a few days ago.

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Source: Gatesnotes

Kanye West’s widely publicized story came in different media platforms that he has a net worth approaching $7 billion following a Bloomberg piece that mentioned Yeezy and Yeezy Gap as having a combined value of potentially $4.7 billion. Combined with additional assets, these reports listed West’s net worth at an estimated $6.6 billion, which made him the richest Black person in the U.S

Forbes has now pointed that Aliko Dangote of Nigeria remains the richest black person in the world with $11.8 billion USD in net worth.

The 43-year-old rapper is truly worth $6.6 billion, a significant increase from the amount that West was reported as being worth back in April 2020 as reported by Forbes.

Led by his sneaker and apparel business Yeezy, which is now in partnership with Adidas AG and Gap Inc., the business is valued between $3.2 billion and $4.7 billion by UBS Group AG.

Aliko Dangote as put by Forbes is the Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer, and owns 85% publicly-traded Dangote Cement through a holding company.

Dangote Cement produces 45.6 million metric tons annually and has operations in ten African countries. He also has publicly own stakes in salt and sugar manufacturing companies.

Kanye West, Source: Los Angeles Times

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His refinery has been under construction since 2016 and is expected to be one of the world’s largest refineries when completed.

 

 

 

 

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