Nigerian Business tycoon and Founder/Chairman, BUA Group, Abdul Samad Rabiu has emerged as Africa’s fourth-richest man.
According to a data obtained from Forbes, the Nigerian recorded $7.6 billion net worth to displace Egypt’s richest person, Nassef Sawiris from the fourth position on the continent.
The New Diplomat reports that Rabiu enjoyed huge success in the past months as his net worth has increased by more than $2.4 billion in the last year, from $4.9 billion to $7.6 billion.
His latest feat come few months after he rose to the position of Nigeria’s second-richest man by exceeding the fortune of Nigerian telecom tycoon Mike Adenuga.
This means Rabiu is currently the Africa’s fourth-richest man, behind fellow Nigerian billionaire Aliko Dangote and two South African billionaires, Johann Rupert and Nicky Oppenheimer.
The New Diplomat also reports that the source of Rabiu’s $7.6 billion fortune is his manufacturing company, BUA Group, which is one of the continent’s fastest-growing manufacturing conglomerates.
Rabiu is currently Africa’s fourth-richest man and the second-richest man in Nigeria.
The Nigerian billionaire owns the majority of both BUA Foods, which went public in 2022, and BUA Cement, his flagship cement company which is publicly traded.
