Business
Latest update: 20 richest people on earth, March 2025
By Elijah Ntongai with Agency reports
Elon Musk, American tech billionaire, sill leads globally as the richest person on earth, followed by Mark Zuckerberg and Jeff Bezos.
Others are French luxury mogul Bernard Arnault who ranks fourth and Oracle co-founder Larry Ellison follows at number five while Bill Gates, Larry Page, Warren Buffett and Sergey Brin are sill forces to reckon with.
According to Bloomberg Billionaires Index, the first two months of 2025 have been a turbulent period for the world’s richest as there has been significant volatility in the net worth of the richest individuals in the world which has been driven by the ups and downs witnessed in the global tech industry, for example the recent market dip caused market grow of Chinese-owned Deep Seek.
Here is the list the richest individuals in the word
1. Elon Musk – $330B (US) (KSh 42.41 trillion)
Elon Musk leads with a $330 billion net worth (about KSh 42.41 trillion) from a wealth portfolio of stocks in Tesla, SpaceX and X Corp alongside stakes in xAI, Neuralink, and The Boring Company.
2. Mark Zuckerberg – $221B (US) (KSh 28.39 trillion)
Mark Zuckerberg, with $221 billion (KSh 28.39 trillion), trails Musk by $109 billion. His wealth stems from Meta, the social media giant behind Facebook, Instagram, and WhatsApp, which has recently reported significant growth driven by AI innovations.
3. Jeff Bezos – $220B (US) (KSh 28.26 trillion)
Jeff Bezos holds $220 billion (KSh 28.26 trillion), anchored by Amazon, the e-commerce and cloud computing behemoth, as well as his stakes in Blue Origin and The Washington Post.
4. Bernard Arnault – $148B (KSh 18.998 trillion) (France)
Bernard Arnault’s $148 billion fortune, down $9.2 billion, is tied to LVMH, the luxury goods conglomerate behind Louis Vuitton, Dior, and Hennessy. His consumer-focused empire thrives on global demand for high-end products.
5. Larry Ellison – $176B (KSh 22.616 trillion) (US)
Larry Ellison’s $176 billion is backed by his role as Oracle’s co-founder and CTO, a database and cloud computing firm.
6. Bill Gates – $164B (KSh 21.074 trillion) (US)
Bill Gates has built his $164 billion fortune through Microsoft. Now he is a philanthropist, and his wealth is managed through Cascade Investment, which has stakes in diverse sectors across the globe.
7. Larry Page – $157B (KSh 20.148 trillion) (US)
Larry Page is a Google co-founder, and his $157 billion net worth is anchored on his stake in Alphabet Inc., the parent company behind Google and other investments in AI, cloud computing, and self-driving tech via Waymo.
8. Warren Buffett – $155B (KSh 19.918 trillion) (US)
Warren Buffett’s $155 billion is rooted in Berkshire Hathaway, a conglomerate with holdings in insurance, energy, and consumer goods, showcasing his value-investing prowess.
9. Sergey Brin – $147B (KSh 18.889 trillion) (US)
Sergey Brin, with $147 billion, co-founded Google with Larry Page, and his net worth is also based on his Alphabet stake.
10. Steve Ballmer – $136B (KSh 17.496 trillion) (US)
Steve Ballmer’s $136 billion stems from his Microsoft tenure as CEO and a significant stake, plus ownership of the Los Angeles Clippers and other investments.
11. Jim Walton – $114B (KSh 14.634 trillion) (US)
Jim Walton’s $114 billion comes from Walmart, the retail giant founded by his father, Sam Walton, where he holds a substantial family stake.
12. Rob Walton – $111B (KSh 14.264 trillion) (US)
Rob Walton, with $111 billion, also inherited the Walmart wealth.
13. Alice Walton – $111B (KSh 14.264 trillion) (US)
Alice Walton matches her brother Rob at $111 billion, with her fortune tied to Walmart and her art philanthropy via the Crystal Bridges Museum.
14. Amancio Ortega – $108B (KSh 13.894 trillion) (US)
Amancio Ortega’s $108 billion is driven by Inditex, the parent company behind Zara, which has recorded significant growth in the global fashion market.
15. Michael Dell – $106B (KSh 13.664 trillion) (US)
Michael Dell’s $106 billion is rooted in his role as CEO of Dell Technologies and past investments in tech and the banking industry.
16. Jensen Huang – $99.9B (KSh 12.829 trillion) (US)
Jensen Huang’s $99.9 billion comes from NVIDIA, the AI and graphics chip maker riding on the AI boom.
17. Mukesh Ambani – $88.1B (KSh 11.322 trillion) (India)
Mukesh Ambani’s $88.1 billion net worth is fueled by Reliance Industries, spanning energy, petrochemicals, and telecom via Jio.
18. Carlos Slim – $82.8B (KSh 10.636 trillion) (Mexico)
Carlos Slim’s $82.8 billion net worth is built on América Móvil, a telecom giant, and other diverse investments.
19. Francoise Bettencourt Meyers – $81.5B (KSh 10.481 trillion) (France)
Francoise Bettencourt Meyers, with $81.5 billion, inherited L’Oréal, the cosmetics empire,from her family.
20. Julia Flesher Koch & Family – $74.4B (KSh 9.559 trillion) (US)
Business
Dangote Refinery to supply 1.5bn litres of petrol monthly
….Writes NMDPRA, Engages Marketers to Stabilise Fuel Market
Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.
Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.
“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.
Photo caption: L R: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.
Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.
Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.
“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.
He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.
During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.
She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.
Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.
“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.
In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.
“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.
By Bonaventure Phillips Melah
Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.
Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.
“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.

Photo caption: LR: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.
Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.
Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.
“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.
He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.
During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.
She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.
Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.
“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.
In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.
“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.
Business
Dangote expands presence in Africa, signs $1b investment deal for cement, energy in Zimbabwe
Africa’s richest man and the Chief Executive Officer (CEO) of Dangote Group, Alhaji Aliko Dangote, has signed a deal to invest over $1 billion in cement and energy in Zimbabwe.
Dangote spoke to journalists after meeting with Zimbabwean President Emmerson Mnangagwa in Harare on Wednesday.
The billionaire businessman said he signed an agreement on behalf of Dangote Group to build cement and power plants as well as a fuel pipeline.
“… we have just actually signed an agreement between Zimbabwe and Dangote Group to do various investments in various sectors, some of which, of course, border on cement, some of it in power generation, and some of it in pipelines to bring petroleum products,” he said.
Dangote said the investment will be worth over $1 billion “because of the pipeline”, noting that the group is planning a couple of other investments in the country.
Speaking on governance in Zimbabwe, he said Mnangagwa transformed the economy, adding that “there is a lot of transparency”.
“And also, when you look at what His Excellency has actually done in terms of turning the economy around, that really gave us the confidence that this is the right time for us to come and invest,” Dangote said.
“And, you know, it’s like somebody, when you pass the exam, people have to give you a good mark. So His Excellency has passed that exam.”
Dangote previously expressed interest in similar investments in Zimbabwe in 2015, including plans for his Dangote Cement Plc to build a $400 million plant with a processing capacity of 1.5 million tons annually.
With the latest deal signing, Dangote is adding Zimbabwe to his list of investment destinations across the continent, which includes Ethiopia and Zambia.
On October 5, the Dangote Group commenced the construction of a $2.5 billion fertiliser plant in Gode, Ethiopia.
The project, a joint venture between the conglomerate and the Ethiopian Investment Holdings (EIH), is expected to have an annual production capacity of three million metric tonnes of urea, positioning it among the largest fertiliser complexes in the world.
Dangote Cement had also built a 1.5 million tonnes per annum (mta) plant in Zambia. The plant began operations in the second quarter (Q2) of 2015, according to information on the company’s website.
-
News2 years agoBreaking: Tinubu’s authentic ministerial nominees
-
News9 months agoSenate to speed up conclusion of Nigeria Forest Security Service Bill
-
News2 years ago“Anytime we want to kill terrorists, President would ask us to take permission from France but they were killing our soldiers-” Niger Republic coup leader
-
News2 years ago“I’m leaving the Catholic church because Bishop Onah is oppressing me,” says Okunerere
-
News2 years agoRadio Nigeria’s veteran broadcaster Kelvin Ugwu dies three months after retirement from service
-
News2 years agoDokpesi and the Gazebo Mystique
-
News2 years agoTsunami: Tinubu orders dissolution of managements, boards of MDAs, to sack all Buhari’s political appointees
-
News2 years agoPersons against Allagoa’s reforms behind protests at NSITF
