Dangote, Otedola included in 2024 Forbes billionaires list

Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are the Nigerians included in Forbes’ 2024 billionaires list.

Forbes announced on Tuesday an increase in the number of billionaires for 2024, despite challenges like inflation and political instability.

According to Forbes, there are now 2,781 billionaires globally, marking a rise of 141 individuals compared to the data from 2023 and 26 more than the previous record set in 2021.

The collective wealth of these billionaires has reached $14.2 trillion, up by $2 trillion from 2023 and surpassing the previous record by $1.1 trillion.

Forbes highlighted that two-thirds of the list’s members have seen their wealth increase over the past year, while only one-fourth have experienced a decrease.

The top 20 billionaires contributed significantly to this growth, adding a combined $700 billion to their wealth since 2023.

The United States leads in billionaire count, boasting a record 813 billionaires with a total wealth of $5.7 trillion. China follows closely with 473 billionaires (including Hong Kong), despite challenges such as weak consumer spending and a real estate downturn.

India also saw a record number of billionaires at 200. Forbes calculated net worths using stock prices and exchange rates as of March 8, 2024.

In Africa, Dangote Cement’s chairman, Aliko Dangote, retained his position as the continent’s wealthiest individual, with a fortune of $13.4 billion, ranking 144th globally.

Mike Adenuga, chairman of Globacom, a Nigerian telecommunications company, secured the 409th spot with a net worth of $6.7 billion.

Abdulsamad Rabiu, chairman of BUA Group, ranked 581st with a net worth of $5.2 billion.

Femi Otedola, chairman of Geregu Power, rounded off the Nigerian billionaires on the list, positioned at 2152nd with a net worth of $1.4 billion.