Aliko Dangote rises from 76th to 43rd on Forbes World Richest ranking, still No 1 in Africa

The only way is up for business tycoon, Aliko Dangote with a net worth of $16.1bn as of March 2013, the President, Dangote Group, now ranks 43 from 76 in 2012 on Forbes World richest list.

It’s a massive leap from his previous position and according to the highly acclaimed Forbes list which released on Monday, the 55-year-old retained his position as the richest man in Africa and the richest among manufacturers in the world with a net worth of $16.1bn.

Dangote had a great year in 2012 while the rest of the world was struggling with post recessions and double deep recessions. According to reports, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa in October and made a whopping $190m in cash from the deal.

Then in February, the Dangote Sugar Refineries gained a 95 per cent share in Savannah Sugar maintaining its leading position as the number one Nigerian sugar industry.

The only other Nigerian to make the list was Globalom Chairman, Mike Adenuga, 59, who ranked 269 with a net worth of $4.7bn. 

Carlos Slim Helu, a Mexican was listed the world richest man with a net worth of $73bn, next was Microsoft guru, Bill Gates with a net worth of the $67bn.

Armancio Ortega of Spain ($57bn); Warren Buffet, United States ($53.5bn); and Larry Ellison of US with $43bn net worth, came in third, fourth and fifth, respectively.

According to Forbes, to compile net worth, individuals’ assets were valued, including stakes in public and private companies, real estate, yachts, art and cash – and account for debt. “We attempt to vet these numbers with all billionaires. Some cooperate; others don’t. We also consult an array of outside experts in various fields.”