Abdulsamad Rabiu
Source of wealth: Cement, sugar
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The scale of their wealth
Health
The price of life
Let's compare Abdulsamad Rabiu's fortune with the healthcare spending of a massive country
Abdulsamad Rabiu could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 7.2 years.
But even if we compare their fortune with that of a rich country
On the other end, Abdulsamad Rabiu could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 3.2 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Abdulsamad Rabiu could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 4.7 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Abdulsamad Rabiu could pay for it entirely for 6.4 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Abdulsamad Rabiu could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 27.1 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Abdulsamad Rabiu with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.6 years.
Gold
Everyday luxuries
Abdulsamad Rabiu's fortune is equivalent to 110 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Abdulsamad Rabiu could buy 29,424,213 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 5 trucks to transport them. Although Abdulsamad Rabiu will almost certainly have enough money left over to pay for the gas.
Biography
Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate.
In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled.
The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.2% of it. He also owns 95% of publicly traded food conglomerate BUA Foods.
Rabiu, the son of a businessman, inherited land from his father.
He set up his own business in 1988 importing iron, steel and chemicals.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison