On the Bloomberg billionaires list, Africa's richest man, Aliko Dangote, is about to surpass another Russian billionaire, Vladimir Lisin.

Since the Russian army invaded Ukraine, Vladimir Lisin, the head of Novolipetsk Steel, Russia's largest steelmaker, has lost over $7 billion. 

Lisin is currently ranked 71st among billionaires and may face further financial losses in the following weeks. 

Aliko Dangote is presently ranked 74th, and the completion of his refinery in Nigeria might enhance his wealth much more in the coming months. 

If Lisin's present financial losses persist, Nigerian billionaire Aliko Dangote is on track to overtake another Russian billionaire, Vladimir Lisin, on the Bloomberg billionaires list in the coming months.

With a net worth of $20 billion as of Wednesday, March 16, 2022, the Nigerian cement magnate is ranked 74th on the Bloomberg billionaires list. Vladimir Lisin, the chairman of Russia's largest steelmaker, Novolipetsk Steel, is currently ranked 71st on the list of billionaires, having lost almost $7 billion since the Russian army invaded Ukraine. His demise underscores the ongoing impact of the United States, the United Kingdom, and their allies' sanctions against Russian oligarchs and the Russian economy.

Dangote, who does not appear to be impacted by the Russian-Ukrainian war, which has resulted in the loss of wealth of several billionaires, has amassed $914 million since the start of business this year, moving up 20 places in the indexes. 

The cement magnate now has a net worth nearly twice that of Johann Rupert, Africa's second richest man ($9.65 billion), who is now ranked 217th on the list of billionaires. Aliko Dangote has also managed to put himself ahead of Chelsea owner Roman Abramovich, who has a fortune of $13.7 billion and is ranked 123rd in the world.

Dangote's fortune could rise much higher in the coming months, thanks to the completion of his refinery in Lagos, Nigeria, as well as his other enterprises in food manufacture, fertilisers, and other fields.

Source: Pulse.com.gh

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