Africa’s richest man Aliko Dangote loses $900 million in one day

The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, lost a whooping $900m on Friday as his company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange.

This according to a report by Bloomberg,has seen him drop from 106th to 114th richest person in the world.

This means that the president of the Dangote group lost N343,125,000,000 as his company was rated the biggest loser loser at the end of trading on the Nigerian Stock Exchange. With the loss, Dangote’s wealth reportedly fell from $18.4 billion to $17.5 billion on Friday, January 8 as published by the Bloomberg Billionaires Index.

Dangote still maintained a place among the 500 billionaires across the world however.

He was 106th before the loss. He is now the only Nigerian on the list reported by Bloomberg.

Dangote made some further fortunes towards the end of 2020 with his wealth jumping from $15.5 billion on December 13 to $17.8 billion. When the world entered a new year 2021, he further gained $600 million within the first week.

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Written by Andrew Odoe
Serial Entrepreneur, Humanitarian, Social Activist and Writer.
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