Leading the Nigerian contingent is Aliko Dangote, Africa’s wealthiest individual and chairman of Dangote Group, Africa’s largest cement producer. Dangote clinched the 144th spot on the list with a formidable net worth of $13.4 billion. His diversified investment portfolio includes significant interests in cement production and sugar.

Following closely is telecommunications magnate Mike Adenuga, chairman of Globacom, who stands at the 409th position with a net worth of $6.7 billion. Adenuga’s wealth stems from his successful ventures in telecommunications and oil.

Abdulsamad Rabiu, founder of BUA Group, a Nigerian conglomerate with interests in cement production, sugar refining, and real estate, secured the 581st spot with a net worth of $5.2 billion.

Rounding up the Nigerian representation is Femi Otedola, whose entrepreneurial journey began in commodities before transitioning to the energy sector. Otedola, ranked at 2152, boasts a net worth of $1.4 billion.

Forbes’ 2024 billionaires list witnessed a surge in the number of ultra-wealthy individuals worldwide, totaling 2,781 billionaires—a record high. The cumulative wealth of these billionaires reached a staggering $14.2 trillion, indicating significant growth compared to previous years despite global challenges such as inflation, political instability, and conflicts.

The United States emerged as the country with the highest number of billionaires, followed by China and India. Notably, the top 20 billionaires on the list collectively added $700 billion to their wealth.