Africa’s richest man and the President/Chief Executive, Dangote Industries Limited, Aliko Dangote has dropped down the Forbes rich list after his total net worth dropped by $2.5bn in the last 30 days.
Bloomberg Billionaires Index reports that the ranking of the world’s 500 richest people, showed that Dangote’s wealth fell from $15.9bn as of February 25, 2020, to $13.4bn on March 26.
Dangote who had risen to a high of $16.5bn on January 27, 2020, was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person in the latest ranking which now makes him the 77th richest person in the world with $13.4bn.
“Africa’s richest person controls Dangote Industries, a closely held conglomerate. The Lagos, Nigeria-based Company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of N901.2bn ($2.5bn) in 2018. It also has interests in sugar, salt, flour, fertiliser and packaged food,” Bloomberg said.
The share price of Dangote Cement Plc, the biggest listed company on the Nigerian Stock Exchange, fell by 23.71 per cent to N129.70 on Thursday from N170 on February 25, 2020, forcing a decline in his earnings.
The founder and Chief Executive Officer of Amazon, Jeff Bezos, remains the richest person in the world with a total net worth of $116bn, followed by Bill Gates ($96.4bn), Bernard Arnault ($77bn), Warren Buffett ($71.2bn) and Mark Zuckerberg ($60bn).
You may be interested
AFCON 2025Q: New Boy Osho, Iheanacho, Start For Super Eagles Vs Benin Republic
Webby - November 14, 2024The Super Eagles will line-up in a 3-4-3 formation in tonight’s 2025 Africa Cup of Nations qualifying tie against Benin…
My Goal Was To Achieve Success With Ten Hag At Man United –De Ligt
Webby - November 14, 2024Netherlands international Matthijs de Ligt has suggested Erik ten Hag didn’t get the breaks he needed to keep his job…
I Want To Take My Game To New Level –Lookman
Webby - November 13, 2024Super Eagles winger Ademola Lookman has reiterated his commitment to take his game to the next level.The Nigerian international, who…