⬅ # 569 Jon Stryker|# 571 Stefano Pessina

# 570 Abdul Samad Rabiu 

$5.33B

Real Time Net Worth
as of 7/12/2024
-$153 (-0.00%)

# 570 Abdul Samad Rabiu 

$5.33B

Real Time Net Worth
as of 7/12/2024
-$153 (-0.00%)
Source of WealthCement, Sugar
Age63
ResidenceLagos, Nigeria
Marital StatusMarried
Age-Adjusted Net Worth$4.35B
Abdul Samad Rabiu
Abdul Samad Rabiu
Nigeria
Net worth: $5.33B

Self-Made Score 

Wealth History

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Biography

Overview

Abdul Samad Isyaku Rabiu was born on August 4, 1960, in Kano, Nigeria.
He attended Capital University in Columbus, Ohio, and returned to Nigeria at the age of 24.
Rabiu inherited land from his father, Khalifah Isyaku Rabiu, a prominent Nigerian industrialist.
Rabiu's business interests expanded into various sectors including manufacturing, infrastructure, and agriculture.

Business Ventures

Rabiu established BUA International Limited in 1988, focusing initially on commodity trading.
The company later expanded into steel production, supplying raw materials to the government-owned Delta Steel Company.
BUA further diversified into flour milling, sugar refining, and cement production.
In 2008, BUA broke a monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa.
The company acquired a controlling stake in a publicly listed Cement Company in Northern Nigeria in 2009, expanding its presence in the cement industry.
BUA completed the construction of a $900 million cement plant in Edo State in early 2015.

Philanthropy

Abdul Samad Rabiu utilizes the BUA Foundation for philanthropic initiatives.
He contributed to the construction of a 7,000-square-meter pediatric ward at Aminu Kano Teaching Hospital.
Rabiu also supported the establishment of the Centre for Islamic Studies at Bayero University Kano.
These initiatives are among several others undertaken by the BUA Foundation.

Personal Life

Abdul Samad Rabiu has five children: Al Mustapha, Khadija Cookie, Isyaku Khalifa, Junaid, and Rania Rabiu.
He is one of 43 siblings, which includes notable figures like Nafiu Rabiu and Rabiu Rabiu, chairman of IRS Airlines.

Recognition

He was honored with the Nigerian national honor of Commander of the Order of the Federal Republic (CFR) in October 2022 by President Muhammadu Buhari.

How long would it take you to become as rich as Abdul Samad Rabiu?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Abdul Samad Rabiu's net worth of $5.33B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 51.86% compared to 19.03% for the S&P 500 benchmark.

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Abdul Samad Rabiu is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Abdul Samad Rabiu, Cement and Sugar are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey