Aliko Dangote
By agency report
Nigeria’s wealthiest man, Aliko Dangote, has lost the number spot as Africa’s richest man on the Forbes list.
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Dangote is now placed second behind Johann Rupert, the South African billionaire.
The Nigerian billionaire held the top spot on the Forbes list for more than a decade.
According to Forbes, Dangote’s fortunes plunged by about $3.4 billion in a single day because of Nigeria’s naira devaluation, which slashed the fortunes of most Nigerian billionaires.
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Forbes estimates Rupert’s fortunes to be around $12 billion. Dangote has held the top spot on the Forbes list for 12 years.
In 2014, Forbes estimated Dangote’s wealth to have surpassed the $20 billion mark.
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According to reports, Dangote’s wealth declined from $25 billion in 2014 to $14.2, due mainly to several currency devaluations by Africa’s biggest economy.
Dangote retains top position on Bloomberg.
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Meanwhile, Dangote retains the top spot in Africa on Bloomberg Billionaire’s Index but has dropped out of the first 100 positions globally.
Bloomberg estimates Dangote’s wealth to be about $16.8 billion from $21.2 billion.
Rupert’s wealth is $13.3 billion while retaining the number two spot on the Bloomberg list.
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Apart from Dangote, other Nigerian billionaires on the Forbes list suffered a massive hit due to the naira devaluation.
His closest rival in Nigeria, Abdul Samad Rabiu and Mike Adenuga, took a hit.
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Rabiu lost about $2 billion and his spot as Africa’s fourth richest man to Egyptian Nassef Sawiris, with a net worth of $6.9 billion, per Forbes list.
Dangote crashes on billionaire ranking but earns N72.2 billion in 8 hours as Dangote Cement share price drops.
Source: legit.ng
