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Aliko Dangote's Net worth Drops By $157 Million In One Day

Aliko Dangote's Net worth Drops By $157 Million In One Day

Africa’s richest man and Nigerian billionaire industrialist Aliko Dangote’s net worth dropped by $157 million in a single day as his wealth was valued at less than $21 billion.

According to the Bloomberg Billionaires Index, Dangote’s net worth has dropped from more than $21 billion at the start of business yesterday to $20.9 billion, African Billionaires report.

Dangote is the founder of Dangote Industries Limited, a Nigerian conglomerate with diverse interests.

The decrease in Dangote’s net worth can be linked to a drop in the value of his 86-per cent stake in Dangote Cement, as the company’s share price declined on the Nigerian Exchange.

Dangote Cement shares have fallen from an all-time high of N300 ($0.72) at the start of trading on the local bourse on Tuesday to N297 ($0.66) at the time of writing this report.

The recent share price decline follows the Central Bank of Nigeria’s decision to raise the benchmark interest rate to 13 per cent after two years of expansionary monetary policy.

The rate, which had been locked in at 11.5 per cent since September 2020 as the Central Bank sought to spur recovery from the recession caused by COVID-19, has now been raised by the apex bank after the country’s inflation rate surpassed 16 per cent.

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13 Comments

tanakastyle 4 weeks ago

in Zim most people are worthy RTGs $38000 😂


Bright 1 month ago

Vanaita vachigadzirawo category yeumbavha ka tione ana Ed kt vangasara her


Ini zvangu 1 month ago

Its obvious E D will be on number one. In fact the top ten inenge iri z a n u p f chete chete.

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Turoo 1 month ago

But chinopisa icho, richest black man in the World👏


Freda 1 month ago

@starship Richest black man in the world he is right.Aizvee mkoma pay more attention nhymi.

Starship🚀 1 month ago

Aizveee Africa ndiyo the world here nhywe mufana

Mujibha 1 month ago

Success starts when you stop complaining.


tanakastyle 4 weeks ago

Rtgs $38000 😂😂😂

MtaneNdebele 1 month ago

What's your net worth 😂😂😂😂😂😂😂😂😂😂😂since u don't complain

mpambis 1 month ago

unayo Mari yacho


Freda 1 month ago

yeah

Freda 1 month ago

Good tyme to buy those shares they are now cheaper.


totito 1 month ago

Whats Queen-B's ranking?



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