By Bayo Olupohunda,Dave Ibemere
Copyright legit
The world richest man, Elon Musk has seen his net worth hit a new high after an increase of Tesla sharesHe is now the first public figure in history to have a net worth of over $500 billion based on Forbes recordAliko Dangote, Africa’s richest man, has also recorded a sharp increase in his wealth and ranking on the global rich list
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and global market trends.
Elon Musk, the world’s richest person, has become the first individual to amass a net worth of $500 billion.
Musk’s fortune hits record level following a strong rally in Tesla shares and gains in SpaceX and xAI valuations.
Musk’s net worth rises to unprecedented level
Data obtained from Forbes showed that as of Wednesday, October 2, 2025, Musk’s net worth stood at $499.1 billion after gaining $8.3 billion in a day.
Musk’s net worth, tied to Tesla, SpaceX, and his AI venture xAI, cements his position as the wealthiest individual ever tracked
Oracle’s Larry Ellison, who briefly overtook Elon Musk net worth recently is now $150 billion behind.
10 richest men in the world
Elon Musk: $499.1bnLarry Ellison : $350.7bnMark Zuckerberg: $245.8bnJeff Bezos: $233.5bnLarry Page: $203.7bnSergey Brin: $189.0bnJensen Huang : $162.6bnBernard Arnault: $160.6bnSteve Ballmer: $156.4bnWarren Buffett: $148.5bn
Dangote remains Africa’s richest man
It was not only Elon Musk that recorded a jump in fortune.
Aliko Dangote’s net worth also rose significantly in 2025, allowing him to break into the world’s top 100 billionaires.
According to Forbes, Dangote’s wealth has climbed to $24.6 billion, placing him 94th globally, up from 197th in January.
This indicates that Dangote has overtaken more than 100 billionaires in the 2025 world ranking.
According to the Bloomberg Billionaires Index, Dangote’s net worth has surged by about $1 billion over the past three months, to $28 billion, as the refinery has ramped up.
On the strength of his plant, Nigeria has become a net exporter of petroleum products for the first time in three decades.
Other Nigerian billionaires in the rankings include:
Abdulsamad Rabiu: $7.8bn (Rank 452)Mike Adenuga: $6.3bn (Rank 609)Femi Otedola: $1.5bn (Rank 2406)
South African billionaire Johann Rupert follows as Africa’s second-richest, with a net worth of $14.5 billion and 186th in the world.
PENGASSAN suspends strike after agreement with Dangote
Earlier, Legit.ng reported that Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has decided to suspend its strike after the Dangote Group agreed to unionisation and to the willingness to recall 800 refinery workers who were recently dismissed.
The decision followed the Dangote Group’s agreement to unionisation and to recall 800 dismissed refinery workers
The union warned that if the agreement is not fully honoured, the strike will resume without prior notice.
Source: Legit.ng
