BUA Group founder and billionaire Abdul Samad Rabiu, a Nigerian, has seen a stunning increase in his net worth, which has surpassed $8 billion thanks to a record $501 million rise in a single day.
In the past 24 hours, Rabiu’s wealth has reached previously unheard-of heights, following in the footsteps of Nigeria’s wealthiest banker, Jim Ovia, and Africa’s richest man, Aliko Dangote.
Rabiu’s net worth soared by $501 million in a single day, going from $7.5 billion at the start of business on May 30 to an astonishing $8 billion at the end of the same day, according to the Bloomberg Billionaires Index, which analyzes the wealth of the 500 richest people in the world.
On May 30, the Nigerian Exchange saw a stunning rise, with stock prices rising by an astounding N1.5 trillion ($3.2 billion) in a single day.
President Bola Ahmed Tinubu’s enticing inaugural speech, which announced a number of initiatives intended to solve important concerns inside the Nigerian economy, served as the primary catalyst for this upsurge.
