Africa’s richest man, Aliko Dangote has reportedly lost $900 million, equivalent to N343 billion in less than 24 hours.
The billionaire magnate lost this after his company, Dangote Industries Limited emerged the biggest loser at the end of the trading on the Nigerian Stock Exchange (NSE), mark
Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4bn on Thursday to $17.5bn on Friday, making him the 114th wealthiest man in the world, down from 106th the previous
Dangote’s net worth had risen from $15.5bn on December 13 to cloday.et. se the year 2020 at $17.8bn. It further gained $600m in the first seven days of 2021 but lost all of it and more last Friday.
The share price of Dangote Cement Plc, the country’s biggest listed company and Africa’s largest cement producer, tumbled by 8.13 per cent to close at N225 on Friday from N244.90 on Thursday.
Dangote was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person as of Friday.
“The majority of Dangote’s fortune is derived from his 86 per cent stake in publicly-traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Industries,” Bloomberg said.
His most valuable closely held asset is a fertiliser plant with a capacity to produce up to 2.8 million tonnes of urea annually, according to the international news agency.
- COVID-19 vaccine: ASUU warns Buhari govtIn NewsJanuary 16, 2021The Kaduna State Government COVID-19 Task Force officials have rescued 160 children from locations that are neither authorised and licensed as ...[Read more]
- Woman found dead with phone cord around neck in Brooklyn housing projectIn USAJanuary 16, 2021An elderly woman was found dead with a phone cord wrapped around her neck in her Brooklyn housing project apartment, police said Friday night. The ...[Read more]
- AOC proposes funding to deprogram white supremacistsIn USAJanuary 16, 2021The federal government needs to fund the de-programming of white supremacists and conspiracy theorists, Rep. Alexandria Ocasio-Cortez said Friday ...[Read more]
- Wizkid celebrates second son, King Ayo on his 5th birthdayIn Celebrity NewsJanuary 16, 2021Superstar singer, Ayodeji Ibrahim Balogun aka Wizkid has showered undying love on his second son, King Ayo as he celebrates his 5th birthday. 5 years ...[Read more]
- James Brown loses Instagram account, Bobrisky denies having handIn Celebrity NewsJanuary 16, 2021Controversial male barbie, Bobrisky has denied having hands in the loss of the Instagram account of fellow crossdresser, James Brown. James Brown had ...[Read more]
- Woman allegedly steals mail truck, crashes into more than 10 cars in NYCIn USAJanuary 16, 2021A woman is in custody after allegedly stealing a mail truck in Brooklyn and slamming it into at least 10 parked cars Friday night. The postal panic ...[Read more]
- 11 Gambino family members, associates plead guilty to multiple crimesIn USAJanuary 16, 2021A slew of admitted mobsters will now be trading their tony Westchester County digs for the bing. A Gambino captain and 10 members and associates of ...[Read more]
- State Sen. Luis Sepúlveda forced to deny domestic violence claim at toy driveIn USAJanuary 16, 2021A community leader co-hosting a toy giveaway with embattled state Sen. Luis Sepulveda erroneously let fly during the event Friday that the Bronx pol ...[Read more]
- Passengers and airline staff fight over flight cancellationIn NewsJanuary 15, 2021Frustrated passengers created a scene Friday evening, Jan 15, at the Malam Aminu Kano International Airport, Kano, after their flight was cancelled. ...[Read more]
- Elderly NYC couple gets COVID-19 vaccine after plea to de BlasioIn USAJanuary 15, 2021They finally got their shot. An 89-year-old Manhattan woman who made a heartbreaking public plea to Mayor Bill de Blasio last week to get the ...[Read more]