Aliko Dangote was listed as the only Nigerian in Bloomberg’s Billionaire Index on Tuesday, August 10, with a net worth of $17.8bn.
The Chairman of the Dangote Group was ranked 118 among 500 billionaires listed by Bloomberg.
Tesla’s Chief Executive Officer (CEO) Elon Musk topped the billionaires’ index with a net worth valued at $193b. He is followed by Amazon’s Jeff Bezos at number two who is valued at $193billion.
Bernard Arnault of LVMH Moet Hennessy Louis Vuitton has a net worth of $175b to take third.
Bill Gates had a valuation of $148b while Facebook CEO Mark Zuckerberg with $134billion occupied, 4th and 5th position in that order.
Jack Ma, Roman Abramovich, and Rupert Murdoch are some of the prominent names on the index.
“In calculating net worth, Bloomberg 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 company explained.
The billionaire’s chart containing Dangote is a daily ranking of the richest people on earth; and measures personal wealth solely on fluctuations in markets, the economy, and Bloomberg’s reportage.
Each billionaire’s net worth is updated at the close of business every day at the close of trading in New York.
Equally, stakes in publicly traded companies are valued and it uses the share’s latest closing price. The valuations are then converted to US dollars at the present exchange rates.