Abdul Samad Rabiu become the 3rd richest man in Africa
By Jennifer S Kuwanta
Abdul Samad Rabiu, who is the second wealthiest person in Nigeria, has surpassed South African billionaire, Nicky Oppenheimer in net worth, now ranking as the third richest individual in Africa with a net worth of over $8.6 billion.
Samad is a Nigerian billionaire businessman and philanthropist. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s.
Abdul is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion.
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He is also the chairman of the Nigerian Bank of Industry (BOI).
Over the past year, his net worth has increased by over $3.7 billion, rising from $4.9 billion to its current value.
Three months after crossing the $8 billion mark, Rabiu’s net worth has experienced a considerable increase, solidifying his position as the third richest person in Africa.
Meanwhile, Nicky Oppenheimer, whose primary source of wealth is his family’s diamond mining company, De Beers, has a net worth of $8.4 billion as of the time of writing.
