Headlinenews.news reports that Mike Adenuga, a prominent oil and telecom magnate from Nigeria, has reclaimed his position as the country’s second-richest person, surpassing Abdul Samad Rabiu, following Forbes’ reassessment of the value of his Globacom mobile phone network.
With a net worth of $7.4 billion, Adenuga is a major player in the African commercial scene. Forbes’ most recent reevaluation now places only Aliko Dangote ahead of him in terms of wealth in Nigeria.
Adenuga is ranked fifth among the wealthiest people in Africa, with significant holdings in the oil industry through Conoil Producing and Conpetro. He further solidifies his standing among Nigeria’s financial elites with a notable involvement in Sterling Financial Holding, where he owns a 30.63-percent stake.
Globacom, founded by Adenuga, aggressively pursues the goal of building Africa’s largest telecom network, gaining millions of users in Ghana and Nigeria and holding a roughly 28% market share in the former.
Meanwhile, in a significant shift in the rankings of the world’s wealthiest individuals, Aliko Dangote has reclaimed his status as the richest person in Africa, surpassing Johann Rupert, a South African business tycoon, on Forbes Real-Time Billionaires. As of January 8, 2024, Dangote’s net worth increased by $10 million, reaching a total of $10.1 billion, surpassing Rupert, whose net worth stood at $10 billion on the same date.