{"id":241987,"date":"2023-01-16T10:46:24","date_gmt":"2023-01-16T09:46:24","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=241987"},"modified":"2023-01-16T10:46:24","modified_gmt":"2023-01-16T09:46:24","slug":"rabiu-becomes-fourth-richest-man-in-africa","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/01\/16\/rabiu-becomes-fourth-richest-man-in-africa\/","title":{"rendered":"Rabiu becomes fourth richest man in Africa"},"content":{"rendered":"<p>Founder\/Chairman, BUA Group, Abdul Samad Rabiu has claimed the title of Africa\u2019s fourth-richest man, displacing Egypt\u2019s richest person, Nassef Sawiris. This is coming months after Rabiu rose to the position of Nigeria\u2019s second-richest man by exceeding the fortune of Nigerian telecom tycoon Mike Adenuga.<\/p>\n<p>According to information from Forbes, Rabiu\u2019s net worth has increased by more than $2.4 billion in the last year, from $4.9 billion to $7.6 billion. Consequently, he is currently Africa\u2019s fourth-richest man, behind fellow Nigerian billionaire <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/12\/02\/how-billionaire-aliko-dangote-became-1-5-billion-richer-in-november\/\" target=\"_blank\" rel=\"noopener\">Aliko Dangote<\/a> and two South African billionaires, Johann Rupert and Nicky Oppenheimer.<\/p>\n<p>He surpassed Egyptian billionaire Nassef Sawiris, whose net worth stands was $7.3 billion after rising above $7.6 billion.<\/p>\n<p>The majority of Sawiris\u2019 wealth comes from his holdings in Adidas and OCI N.V., making him the richest individual in both North Africa and the Arab world.<\/p>\n<p>However, the source of Rabiu\u2019s $7.6 billion fortune is his manufacturing company, BUA Group, which is one of the continent\u2019s fastest-growing manufacturing conglomerates. Rabiu is currently Africa\u2019s fourth-richest man and the second-richest man in Nigeria.<\/p>\n<p>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.<\/p>\n<p>The Nigeria-based BUA Group\u2019s integrated food business unit, BUA Foods, is in operation.<\/p>\n<p>The activities of BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta, and BUA Rice Limited are all included in its operations.<\/p>\n<p>Rabiu\u2019s net worth has increased from $4.9 billion to $7.6 billion since the company\u2019s shares were listed on the Nigerian Exchange a year ago, as of the time of this article.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founder\/Chairman, BUA Group, Abdul Samad Rabiu has claimed the title of Africa\u2019s fourth-richest man, displacing Egypt\u2019s richest person, Nassef Sawiris. This is coming months after Rabiu rose to the position of Nigeria\u2019s second-richest man by exceeding the fortune of Nigerian telecom tycoon Mike Adenuga. According to information from Forbes, Rabiu\u2019s net worth has increased by [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":241988,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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