The share prices of Rabiu’s enterprises BUA Cement and BUA Foods significantly increased as a result of the positive investor response to these suggested actions.
With the addition of this most recent $501 million windfall, Rabiu’s total wealth gains for the year are now a staggering $1.53 billion, solidly placing him among the select group of African billionaires who have seen their net worth rise by more than $1.5 billion.
The suggested reforms were well received by investors, which resulted in a notable rise in the stock prices of Rabiu’s enterprises. Stocks on the Nigerian Exchange increased by an astounding N1.5 trillion ($3.2 billion) in a single day, in what was a startling surge.
Abdul Samad Rabiu’s net worth has just increased by $501 million, bringing his total yearly wealth increases to $1.53 billion. He now belongs to the limited group of African billionaires whose wealth increased by more than $1.5 billion in 2023.
Aliko Dangote, a corporate billionaire from Nigeria, and Johann Rupert, a luxury mogul from South Africa, join Rabiu in this elite group. Rupert’s net worth has increased significantly by $2.27 billion while Dangote’s has increased dramatically by $2.49 billion this year.
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