Dangote, Adenuga Richer than Donald Trump; Meet the 2016 Forbes Magazine Nigerian Billionaires

NEW YORK, NY - APRIL 29: Halima Dangote (L) and Honoree Aliko Dangote attend the TIME 100 Gala, TIME's 100 most influential people in the world, at Jazz at Lincoln Center on April 29, 2014 in New York City. (Photo by Ben Gabbe/Getty Images for TIME)

NEW YORK, NY – APRIL 29: Halima Dangote (L) and Honoree Aliko Dangote attend the TIME 100 Gala, TIME’s 100 most influential people in the world, at Jazz at Lincoln Center on April 29, 2014 in New York City. (Photo by Ben Gabbe/Getty Images for TIME)

The Forbes Magazine annual billionaires list for 2016 is out and contains names and assets of 1,810 billionaires from around the world.

The dwindling oil prices and strength  of the  dollar made so many drop off the list.

Bill Gates for about 20 years has been top on the list and he still retained his position  as the richest man in the world.

American presidential candidate Donald Trump also made the list and ranked 324th richest man in the world with a total net worth of $4.5 billion- meaning Nigeria’s Aliko Dangote and Mike Adenuga are richer than he is.

Nigerians Who Made the List
Five notable Nigerians made the list, four men and one woman.

Our very own Aliko Dangote made it and has retained his position as the richest man in Africa and 51st in the world. Aliko Dangote’s net worth, according to Forbes, has risen to $15.4bn from $14.7bn in 2015. He was ranked 67th in the 2015 list. Dangote founded and chairs Dangote Cement, the continent’s largest cement producer.  A spokesman for Dangote told Forbes that the company has until October 2016 to lower Aliko Dangote’s stake and plans to do so by then. Other companies in the Dangote Group, which is active in 15 African countries, include publicly-traded salt, sugar and flour manufacturing companies.

Mike Adenuga the M.D of Globacom also ranked the 103th richest man in the world and second in Africa. Mike Adenuga,  who ranked 393rd in 2015 definitely moved up in 2016, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 32 million subscribers; it also has operations in Ghana and the Republic of Benin. A higher estimate of Globacom’s revenues led Forbes to increase the value they assign to it. His exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. He also owns real estate firm Proline Investments, which has hundreds of properties throughout Nigeria.

Femi Otedola of Nigeria also made the list as the 1011th richest man in the world and 3rd in Nigeria with a Net worth of $1.8billion, Otedola is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country. It owns oil storage depots and manufactures its own line of engine oils. In 2013, Otedola led the company to purchase a government-owned stake in a gas-fired power plant in Kogi state in central Nigeria.In 2015 he ranked 1741st.

Folorunsho Alakija the only Nigerian woman on the list who ranked 1,121st richest person in the world and the 4th in Nigeria with a Net worth of $1.6billion and  is the vice chair of Famfa Oil, a Nigerian oil exploration company that has a 60% participating interest in block OML 127, part of the larger Agbami field, one of Nigeria’s largest deepwater discoveries, about 70 miles offshore. Its partners include Chevron and Petrobras.  Alakija’s net worth has fallen in the past year as a result of lower oil prices as compared to her 949th ranking in 2015.

Abdulsamad Rabiu, the founder of BUA Group, ranked 1577th in the world and 4th in Nigeria with a Net worth of $1.1billion, He is a Nigerian conglomerate active in sugar refining, cement production, real estate, logistics and port operations. Rabiu is expanding cement production. In September 2015, BUA signed a $600 million deal with Sinoma International Engineering, a Chinese cement equipment and engineering service provider, to construct a second production line at its flagship Obu cement plant, located in Edo State in the western part of Nigeria.He also ranked 1741st in 2015.

Top Shots
Mark  Zuckerberg, the 31-year-old Facebook founder  added $11.2 billion to his fortune and moved up to No. 6 from 16. He was one of the persons that made their  first appearance in the top ten of FORBES’ annual ranking of the world’s wealthiest.

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Update: Earlier, it was erroneously stated that Oprah Winfrey didn’t make the list this year, as opposed to saying she ranked  569th in the world with a total net worth of $3.1billion. This has been corrected and thanks to our eagle-eyed BN Readers for spotting it.

Photo Credit: Ben Gabbe/Getty Images for TIME

27 Comments on Dangote, Adenuga Richer than Donald Trump; Meet the 2016 Forbes Magazine Nigerian Billionaires
  • Noname March 2, 2016 at 1:55 pm

    Father and daughter. A daughter that is enjoying her father’s wealth. Next thing now someone go talk say leveraging on family wealth na weakness. Pfff! Side eye at BN for deleting my comment na so e pain am?; Good. Congrats to all the recipients ja re.

  • mtscheeeeeew March 2, 2016 at 2:09 pm

    richest bu your country is one of the poorest, your people (north) are dying from poverty, ignorance and barbaric cultures. abeg, leave thrash for lawma. eat your wealth. nonsense

    • Ayodele March 2, 2016 at 2:24 pm

      Why are you so mad? Is it your money? What have you done for the needy today?

    • Marc Francis of Chelsea March 2, 2016 at 2:49 pm

      Shut up. The sky is blue, but it also rains a lot. Your post has nothing to do with anything.

    • kadara March 2, 2016 at 3:23 pm

      Shut up, is there no ignorance, poverty and barbaric practices from your side? Let’s talk about children left to starve because they were called witches by some wicked “Spritual.leader” and a foreigner had to come to the rescue . Stop acting like the North Is the only region with problems. Your own rich people what have they done? What’s really paining.you is that no one from your tribe made the list ontop all your chest beating. Shame on you. No be by noise lol

    • honey omo lekki March 2, 2016 at 3:25 pm

      You better pray for God to do your own instead of beefing someone else’s glory.

      How many people have you helped in your community? You are here gloating about someone that has worked hard for his money, and who according to info gives back to people more than any other rich person.

      Hater!!!

    • Fani March 2, 2016 at 3:37 pm

      You are simply pained none of your “brothers” made it. We can see the regions running things without making noise unlike you people

  • Missy J March 2, 2016 at 2:22 pm

    Oil!Oil!!Oil!!!

  • Samuel Johnson March 2, 2016 at 2:40 pm

    It is an anomaly that in a country with some vital stats like population, age demographics, arable land, resources like Nigeria, there is not a single Billionaire ($) that we can say has made money without any comma, granted that yes, there’s nothing necessarily wrong in leveraging on friends in government/high places. And yes the number of billionaires is not a singular indicator of the health of an economy or its people’s level of development, but it does tell a story of the people’s ambition and potentials for growth. 10 years from today, we must be talking about billionaires who have made their money with minimal/no connection to government, yes it’s possible. I believe in Nigeria.

  • keke driver March 2, 2016 at 2:57 pm

    OMG Oprah tho….am truly sorry ok?

  • in short March 2, 2016 at 3:06 pm

    Where is Dezieani Allison
    where is the former NSA
    Where is Jonathan
    where is Abacha’s family

    Be deceiving yourself there. These people have enough money to buy a whole planet but hiding everywhere, including inside water, inside the fish belly, inside their pants, inside the ground, water tank and anywhere your mind can comprehend

    • Chu March 2, 2016 at 4:37 pm

      These are people that can account for their money and not stolen money, if that were the case a lot of Nigerians would be on that list.

  • Nwa nna March 2, 2016 at 3:16 pm

    Nigerian billionaires are oligarchs! I’m just being honest, in my future the rapper’s auto-tune voice 😀 … Not hating, just stating the obvious..

  • just bored March 2, 2016 at 3:37 pm

    And Oprah is on the list at no 569.. Not sure where you got your news from. Perhaps you need someone to proof read your news before publishing???

    forbes.com/billionaires/#/version:static_tab:women_page:7

  • i no send March 2, 2016 at 4:03 pm

    dangles daughter ..carbon copy of daddy..almost looks like he just decided to tie a scarf and wear kaftan

  • ATL’s finest March 2, 2016 at 4:51 pm

    For some reasons, I never believed in this list & I DON’T know why. Oh well Congrats to them all & hopefully they all do right.

  • JustSaying March 2, 2016 at 5:06 pm

    All the hoes thots and instagram bitches including the imported akatas and videos hoes and reality show stars, kenyan top hoe vera sidika, huddah, canadian indian twins etc are all taking note. 🙂

    sylvia and dabota these imports are spoiling your market naaa 🙂

  • JustSaying March 2, 2016 at 5:07 pm

    please is halima dangotes sister?? just asking

  • prince March 2, 2016 at 5:17 pm

    Eleda jo ma mu CODIN. someone made $11.2billion in just one year. Father, you have to do something really fast.

  • swagg1 March 2, 2016 at 5:36 pm

    Dangotes money is loan from various banks, so stop the hype, cuz It serves no purpose. He gets all this tax break under the illusion of building manufacturing industries, which he doesnt build. He is a phony and the more you look, the less you see.

    • Bola March 2, 2016 at 6:27 pm

      All big business men take plenty loans. That is how it works

  • khemmie March 2, 2016 at 6:17 pm

    Am most inspired by facebook founder Mark. Just 31! and the 6th richest in the world. God give me wisdom to create wealth in areas yet untapped.

  • Vic Chinoo March 2, 2016 at 11:25 pm

    Of course they take loans, but they turn their loans into profit. You cannot overlook the work that goes into their very many ventures especially, Dangote. After all, not everyone has the capacity to consistently acquire loans from bank. I am proud of what these men have achieved…BIG TIME.

  • Emi March 3, 2016 at 3:44 am

    Lord,when will I make this list??

  • ElessarisElendil March 3, 2016 at 9:38 am

    How much did he pay in taxes this year?

    Bill Gates has come out in favour of higher taxes while Dangote continues to use “pioneer” status to deny the state its funds. He’s part of the problem.

  • Godwin December 1, 2016 at 1:57 pm

    good to be rich but better to touch life’s with it

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