Africa’s richest man, Aliko Dangote reportedly loses $900 million in 24 hours.
Dangote’s total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange.
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 day.
Despite the loss, he retained his position as Africa’s richest person as of Friday.
Meanwhile, on that same Friday, South Africa born businessman, Elon Musk surpasses Jeff Bezos to be the richest billionaire in the world.
