Aliko Dangote gains an unprecedented $6.9 billion in the first 25 days of 2024

Aliko Dangote gains an unprecedented $6.9 billion in the first 25 days of 2024

 Aliko Dangote, Chairman of Dangote Cement, Witnesses Unprecedented $6.9 Billion Gain in Wealth in January 2024

In a remarkable financial upswing, Aliko Dangote, the Chairman of Dangote Cement, has experienced an extraordinary increase of $6.9 billion in the first 25 days of 2024.

Data from the Bloomberg Billionaire Index reveals that Dangote, commencing the year with a net worth of $15 billion, has seen it surge to $22 billion by January 24, 2024, attributed to the outstanding performance of Dangote Cement.

Nairametrics attributes this surge in wealth to Dangote Cement Plc achieving a historic market capitalization of N10.095 trillion, making it the first Nigerian company to attain this significant milestone.

Dangote Cement has demonstrated exceptional performance in the equities market for 2024, boasting an impressive year-to-date return of 85.2%, rising from a share price of N319.9 at the beginning of the year to N592.6 at the latest trading session.

Key Points

- Aliko Dangote gains an unprecedented $6.9 billion in the first 25 days of 2024.

- Starting the year with a net worth of $15 billion, Dangote's wealth rises to $22 billion by January 24.

- The surge is attributed to the outstanding performance of Dangote Cement.

- Dangote Cement achieves a historic market capitalization of N10.095 trillion.

- The company exhibits an impressive year-to-date return of 85.2%.

- Share price rises from N319.9 to N592.6 in the latest trading session.

- Dangote Cement's market capitalization grows from N5.451 trillion to N10.095 trillion by January 22, 2024.

- The company surpasses Airtel Africa and MTN Nigeria in market capitalization.

- With a market capitalization of N10.095 trillion, Dangote Cement becomes one of Africa’s largest companies.

- Femi Otedola's acquisition of shares in Dangote Cement emphasizes confidence in the company's potential.

- The majority of Dangote's fortune is derived from his 86% stake in publicly traded Dangote Cement.

- Dangote currently ranks as the world’s 82nd richest man, with predictions of his refinery propelling him into the top 50.