Adenuga’s fortune hits $6.7bn in new Forbes list

Mike Adenuga

Forbes has placed the net worth of Globacom chairman Mike Adenuga at $6.7 billion.

Adenuga also has interests in crude oil. His company Globacom is Nigeria’s second-largest telecom operator with presence in Ghana and Benin Republic.

Other Nigerians on the 2024 list of the richest people in the world released on Tuesday are Aliko Dangote, Abdulsamad Rabiu and Femi Otedola.

The quartet made the coveted list despite the devaluation of the naira and inflation.

Dangote’s fortune soared to $13.4 billion, Rabiu and Otedola recorded fortunes of $5.2 billion and $1.4 billion respectively.

The report said there are now more billionaires than ever – 2,781 in all – 141 more than last year and 26 more than the record set in 2021.

“They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021,” it said.

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“Two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer. Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion,” it added.

Bernard Arnault, the world’s richest man with $233 billion net-worth, oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.

Dangote, with an estimated net-worth of around $13.4 billion in 2024, retains his Africa’s richest man position. He doubles as the richest black man in the world.

His business empire, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa and majors in cement and sugar within the manufacturing sector.

Rabiu has a net worth of $5.2 billion and majors in cement and sugar production. He is the founder and chairman of BUA Group, a conglomerate concentrating on manufacturing, infrastructure, agriculture and producing.

Otedola is into energy, shipping, real estate and finance among others. He is the executive chairman of Geregu Power Plc and chairman of FBN Holdings.