Forbes, in its latest ranking of world billionaires for 2023 reported that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people. Africa’s richest man founded and chairs Dangote Cement, the continent’s largest cement producer. Mr Dangote also owns stakes in publicly traded Dangote Salt (NASCON) and Dangote Sugar manufacturing companies. Forbes reported that the party is over for many of the world’s richest people. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion.

Source: Forbes July 12, 2023 10:53 UTC