Billionaire businessman, Alhaji Aliko Dangote lost $900 million of his net worth between Thursday and Friday to close the week as the 114th richest person in the world, down from 106th.
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 as shares from the company fell by 8.13 per cent to close at N225 on Friday from N244.90 on Thursday.
The losses make Dangote the 114th wealthiest man in the world, down from 106th the previous day. However, the 63-year-old retained his position as Africa’s richest person and the only Nigerian on the Bloomberg list.
READ ALSO: In Spirit Of Lent, Ramadan, ECOWAS Lifts Sanctions On Niger, Others
“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 the capacity to produce up to 2.8 million tonnes of urea annually, according to the international news agency.
