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BILLIONAIRES LIST: Dangote loses $900 million a day

BILLIONAIRES LIST: Dangote loses $900 million a day

BILLIONAIRES LIST: Dangote loses $900 million in a day

Alh, Aliko Dangote, The President/Chief Executive, Dangote Industries Limited, discovered his total net worth drop by $900m on Friday 9/01/2021 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 8/01/2021 to $17.5bn 9/01/2021, making him the 114th wealthiest man on Earth, down from 106th.

Alh. Dangote’s net worth on December 13 had risen from $15.5bn to close the year 2020 at $17.8bn. It gained $600m in the first 7 days of 2021, but lost all of it and more last Friday 9/01/2021 .

The price of Dangote Cement, the country’s biggest listed company and Africa’s largest cement producer, tumbled by 8.13 per cent to close at N225 on 9/01/2021 from N244.90 9/01/2021.

Alh. Dangote was the only person Nigerian had on the list of 500 billionaires and retained his position as Africa’s richest person as of Friday 9/01/2021.

The Dangote most valuable closely held asset is a fertiliser plant that have the capacity to produce up to 2.8 million tonnes of urea annually, according to the international news agency.

Alh. Dangote has been African’s richest man for years, he has many services that he render to the general public for consumption, He play a very fatal roles when it come to Africa industries, he is currently build oil refinery that will give many African and non African son and daughter jobs opportunities. Dangote is a product that African proud of anytime. But the current oil refinery is not yet added to his valuable, because the operation is not yet start.

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