Africa richest man, Aliko Dangote record $5.8bn profit within 24 hours as his total net worth rose to $16.6bn on Tuesday.
According to Bloomberg Billionaires Index, a ranking of the world’s 500 richest people, showed that his wealth fell from $10.5bn at the end of last year to a low of $9.63bn on January 1, 2019.
But it raised to $10.8bn on Monday, February 25.
The index also revealed that his net worth increased by 23 per cent from $13.5bn on February 26, 2018, to $16.6bn, emerging 64th richest person in the world.
According to Bloomberg, net worth figures are updated every business day at the close of every trading day in New York, with assets categorised as publicly traded companies, private assets (including closely held businesses, art and real estate), cash and other liquid investments and liabilities.
Jeff Bezos, the founder of Amazon remains the richest person in the world with a total net worth of $136bn while Bill Gates and Warren Buffett occupied the second and third positions respectively with $98.4bn and $83bn fortunes.
Dangote was also recently named the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom.
The recognition came after he endowed his foundation, the Aliko Dangote Foundation to the tune of $1.25bn, a foundation which he started in 1981.
The foundation was aim atenhancing opportunities for social change through strategic investments that improve health and well-being, promote quality education, and broaden economic empowerment opportunities, according to the group.