Nigerian businessman Aliko Dangote has emerged the 65th richest man globally, according to Bloomberg Billionaire index.
Dangote according to the index is worth $16.6 billion. Last year he was ranked 103.
He remains the richest man in Africa for the 8th year running. He is also the only Nigerian on the list of the top 500 billionaires.
Mr Dangote was last year was also ranked 105th on Forbe’s real-time billionaires’ ranking.
He is the founder of Dangote Cement, the continent’s largest cement producer and owns businesses across the continent.
Dangote also owns nearly 88% of publicly-traded Dangote Cement through a holding company.
The cement company produces 44 million metric tons annually and plans to increase its output 33% by 2020.
Part of his wealth also comes from the stakes he owns in publicly-traded salt, sugar and flour manufacturing companies.
South Africa has three of its richest men on the the Bloomberg Billionaires Index.
De Beers heir, Nicky Oppenheimer, luxury tycoon Johann Rupert and property and wholesaling mogul Natie Kirsh are worth about $20 billion combined.
Bloomberg Billionaires Index is a daily ranking of the world’s billionaires published by Bloomberg News since March 2012.
It tracks the 500 wealthiest people, the biggest movers and fortunes around the world.