Dangote is Africa’s richest for 8th consecutive year – Bloomberg

Nigeria’s Alhaji Aliko Dangote, whiles consolidating his place as the continent’s undisputed money man has also risen up the global rankings to the 117th most richest.

This is the eighth year runing that the Nigerian business mogul has toped the continent’s bilionaire list and with that has broken into the top 120 richest in the world.

According to Bloomberg’s World billionaires’ list, Dangote’s fortune increased to $17.8 billion as against last year’s $14.8 billion.

Which other Africans made the billionaires list?

1. Johann Rupert and family (South Africa), worth $10.1 billion

2. Nicky Oppenheimer (South Africa), with a worth of $7.80 billion

3. Natie Kirsh (South Africa) with estimated worth of $7.15 billion.

4. Nassef Sawiris (Egypt) with a worth of $6.93 billion.

How Bloomberg computes its list

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York.

Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

The Global Billionaires list

Elon Musk of Tesla and Jeff Bezos of Amazon are the richest in the world with $194 billion each.

French emtrepreneur Bernard Arnault is next with $174 billion whiles Bill Gates comes fourth with $148 billion. Facebook boss Mark Zuckerberg is the fifth richest with $135 billion.