BUA Founder Abdul Samad Rabiu Becomes Africa’s Second Richest Man
Nigerian businessman and BUA Group founder Abdul Samad Rabiu has reportedly become Africa’s second richest person, overtaking South African billionaire Johann Rupert.
According to the Bloomberg Billionaires Index, Rabiu’s net worth rose to about $18.6 billion after gaining over $8 billion this year, driven largely by growth in his cement, food, and manufacturing businesses.
The latest ranking places him behind only Aliko Dangote, whose fortune is estimated at $34.4 billion.
Meanwhile, Rupert’s wealth reportedly dropped to $17.9 billion following losses recorded this year.
The development further strengthens Nigeria’s presence among Africa’s wealthiest individuals, with Rabiu also recently named by Forbes as one of the continent’s biggest billionaire gainers.
