Business News of Wednesday, 20 August 2025

Source: www.legit.ng

Female billionaire becomes world's richest, Elon Musk drops to 3rd, Dangote loses ground

Charlene de Carvalho and Elon Musk Charlene de Carvalho and Elon Musk

Charlene de Carvalho, the largest shareholder in Heineken, saw an increase in her net worth to become the world's richest person.

According to Forbes' estimations, her net worth rose to $11.04 trillion on Wednesday, March 5, at the time of writing this report.

She became the first person in the world to have a net worth of $11 trillion and the first female billionaire to top the chart, although her wealth is linked to her family.

Who is Charlene de Carvalho-Heineken?

Charlene de Carvalho-Heineken's wealth is thanks to her nearly 24% stake in beer giant Heineken N.V., the world's second-largest brewer.

Forbes reports that she inherited the stake in 2002 from her late father, longtime CEO Freddy Heineken. Charlene, her husband Michel, sons Charles and Alexander, and daughter Louisa Brassey all sit on Heineken boards.

As of July 2024, her net worth was estimated at just $14.1 billion.

Dirk Rossmann and family, second richest

Forbes also reported that Dirk Rossmann is now the second richest person in the world as of March 5.

As of Wednesday, Rossmann and his family's net worth is said to stand at a whopping $670.2 billion.

He owns a drugstore chain, a business he started at 25 years old, with annual revenues of around $13 billion.

Rossmann has made numerous private equity investments and owns a stake in the German Bundesliga soccer club, Hannover 96.

Elon Musk loses world's richest title

Tesla CEO Elon Musk has dropped to third place on the list of the world's richest billionaires.

According to Forbes, Musk's net worth stood at $349.8 billion as of Wednesday despite a wealth increase of $2.2 billion.

Since December 2024, Musk's wealth has decreased by over $100 billion, primarily due to a substantial drop in Tesla's stock value.

This decline is attributed to various factors, including concerns over Musk's political involvement and its impact on Tesla's market performance.

The net worth of the other top 10 billionaires is as follows:

Mark Zuckerberg – $223.8 billion
Jeff Bezos – $221.1 billion
Larry Ellison – $196.6 billion
Bernard Arnault & Family – $181.8 billion
Warren Buffett – $154.9 billion
Larry Page – $142.1 billion
Sergey Brin – $135.9 billion.

Nigerian billionaires' net worth

Aliko Dangote continues to lead the list as the richest man in Nigeria and Africa.

Forbes reported that despite recording a $9 million loss, his net worth of $23.9 billion makes him the 87th richest man in the world and the only African in the top 100.

Aliko Dangote’s recent rise in net worth is largely attributed to his 92.3% stake in Dangote Petroleum Refinery & Petrochemicals.

By building Africa’s largest refinery, he disrupted the government’s monopoly in the oil sector, reshaping the industry.

The $23 billion refinery, which began operations in 2024, has significantly impacted both African and global energy markets.

Just weeks ago, the 67-year-old Kano-born billionaire reclaimed his spot among the world’s top 100 wealthiest individuals—a position he has held since 2018.

Other Nigerian billionaires' net worth as of Wednesday is as follows:

Mike Adenuga - $6.8 billion
Abdulsamad Rabiu - $5.2 billion
Femi Otedola - $1.5 billion.