Why Did Aliko Dangote's Net Worth Rise by $1.4 Billion?

Aliko Dangote's net worth rose by about $1.4 billion after shares of Dangote Cement jumped 9.6%, according to Billionaires.Africa. The Nigerian industrialist is now worth an estimated $55.9 billion, according to Forbes' real-time billionaires data, which ranks him No. 34 among the world's billionaires.

What did Billionaires.Africa report about Aliko Dangote?

Billionaires.Africa reported that Dangote gained $1.4 billion as Dangote Cement shares rose 9.6%. The outlet linked the increase in his fortune directly to the jump in the cement maker's stock price. The report gave no other reason for the move.

How much is Aliko Dangote worth now?

Aliko Dangote is worth about $55.9 billion, according to Forbes' real-time billionaires data. Forbes' live figures show his fortune up about $1.4 billion on the day, the same amount Billionaires.Africa reported.

Where does Aliko Dangote's wealth come from?

Dangote's fortune comes mainly from cement and sugar, according to Forbes. He is based in Nigeria and works in manufacturing. Because Dangote Cement makes up a large part of his wealth, changes in the company's share price move his net worth directly, as the latest 9.6% rise shows.