Forbes names Dangote among world’s 23 richest men

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Mr. Dangote’s profile improved from his 43rd position in 2013 when his net worth was $16 billion,

Forbes magazine has, in its 2014 Billionaires’ list, named the President/Chief Executive of the Dangote Group, Aliko Dangote, 23rd out of 1,645 richest people in the world.

With a fortune of over $25 billion, Mr. Dangote’s profile improved from his 43rd position in 2013 when his net worth was $16 billion, which placed him among the league of the top 25 for the first time.

Forbes said Microsoft’s Founder, Bill Gates, is back on top, reclaiming the title of world’s richest person from telecom mogul, Carlos Slim Helu of Mexico, who ranked No. 1 for the past four years.

Mr. Gates, whose fortune rose by $9 billion in the past year, has held the top spot for 15 of the past 20 years.

Spanish clothing retailer, Amancio Ortega, and owner of the Zara fashion chain, retains the No. 3 spot for the second year in a row, extending his lead over Warren Buffett, who is again No. 4.

Facebook’s Mark Zuckerberg, whose fortune jumped $15.2 billion, to $28.5 billion, as shares of his social network soared, is the year’s biggest dollar gainer.

WhatsApp founders Jan Koum and Brian Acton, who also made the list for the first time, are four of 26 newcomers whose fortunes come from technology.

The United States maintains its lead in the world, with 492 billionaires, followed by China with 152 and Russia with 111.

However, new billionaires emerged for the first time in Algeria, Lithuania, Tanzania and Uganda.

Forbes noted that the 1,645 billionaires had an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago, while 172 women made the list, up from 138 last year.

The magazine added that about two-thirds of the billionaires built their own fortunes, 13 percent inherited them, while 21 percent have been adding on to fortunes they received.