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Dangote, Otedola Lead Nigerian Representation on Forbes 2024 Billionaires List Amid Global Growth

Dangote, Otedola Lead Nigerian Representation on Forbes 2024 Billionaires List Amid Global Growth

In its latest release, Forbes unveiled the 2024 billionaires list, showcasing a surge in wealth despite prevailing challenges such as inflation and political unrest.

The data highlighted a record-breaking 2,781 billionaires worldwide, marking an increase of 141 individuals compared to the previous year and surpassing the 2021 record by 26.

According to Forbes, these billionaires collectively amassed a staggering $14.2 trillion in wealth, indicating a significant uptick of $2 trillion from 2023 and surpassing the previous record by $1.1 trillion.

Notably, two-thirds of the list’s members saw an increase in their net worth, with only one-fourth experiencing a decline.

The top 20 billionaires contributed significantly to this growth, adding a combined $700 billion to their fortunes since 2023.

The United States led the pack with a record 813 billionaires, boasting a combined wealth of $5.7 trillion. China followed closely with 473 billionaires (including Hong Kong), despite challenges such as weak consumer spending and a real estate downturn.

India also saw a remarkable rise in billionaire count, reaching 200 individuals, a record high for the country. Forbes calculated net worths using stock prices and exchange rates as of March 8, 2024.

In Africa, Aliko Dangote, the chairman of Dangote Cement, maintained his status as the continent’s wealthiest individual, with a fortune of $13.4 billion, securing the 144th position on the global list.

Femi Otedola, chairman of Geregu Power, also made a significant appearance, securing the 2152nd position with a net worth of $1.4 billion.

Forbes’ findings underscore the resilience of the global billionaire class in navigating economic and geopolitical uncertainties while continuing to amass wealth at unprecedented levels.

This Article is Fact-Checked. See Policy.
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