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Dangote loses $3.7 billion (N630 billion) in 24 hours

Africa’s richest man, Alhaji Aliko Dangote, 57, lost $3.7 billion (N630 billion) in 24 hours, sliding from number 23 position on Forbes richest list to 37, encomium.ng authoritatively gathered.

Yesterday (Thursday, November 6, 2014), the President of Dangote Group was listed at number 23 on the list with $25 billion (N4.26 trillion) net-worth.  But by the afternoon of Friday, November 7, 2014, he was worth $21.3 billion (N3.6 trillion).  The slide could be attributed to the loss of Dangote Cement on the stock market (from N208.85 to N198.45 per share), and the battering of the naira which exchanged for N170.5 to the dollar.

Dangote made history yesterday when he crossed the first 25 richest people in the world list as the first black person.  But the victory for Nigerians and Africans was short-lived, just 24 hours after.

Here’s the fresh list from Forbes of the 40 richest in the world…

Rank Name Net Worth Country of Citizenship
#1 Bill Gates $82.1 B United States
#2 Carlos Slim Helu & family $80.2 B Mexico
#3 Warren Buffett $70.2 B United States
#4 Amancio Ortega $58.1 B Spain
#5 Larry Ellison $50.2 B United States
#6 Charles Koch $42.6 B United States
#6 David Koch $42.6 B United States
#8 Christy Walton & family $38.5 B United States
#9 Jim Walton $37.2 B United States
#10 Michael Bloomberg $35.8 B United States
#11 Alice Walton $35.7 B United States
#12
  1. Robson Walton
$35.7 B United States
#13 Liliane Bettencourt & family $35.4 B France
#14 Mark Zuckerberg $33.2 B United States
#15 Bernard Arnault & family $31.1 B France
#16 Stefan Persson $31 B Sweden
#17 Li Ka-shing $30.9 B Hong Kong
#18 Sheldon Adelson $30.3 B United States
#19 Larry Page $30.1 B United States
#20 Sergey Brin $29.6 B United States
#21 Jeff Bezos $27.7 B United States
#22 Carl Icahn $25.7 B United States
#23 Michele Ferrero & family $24.9 B Italy
#24 David Thomson & family $24.2 B Canada
#25 George Soros $24 B United States
#26 Forrest Mars Jr $23.8 B United States
#26 Jacqueline Mars $23.8 B United States
#28 John Mars $23.8 B United States
#29 Jack Ma $23.5 B China
#30 Steve Ballmer $23.1 B United States
#31 Mukesh Ambani $22.6 B India
#32 Jorge Paulo Lemann $22.2 B Brazil
#33 Lee Shau Kee $22.1 B Hong Kong
#34 Phil Knight $22 B United States
#35 Prince Alwaleed Bin Talal Alsaud $21.5 B Saudi Arabia
#36 Michael Dell $21.4 B United States
#37 Aliko Dangote $21.3 B Nigeria
#38 Dilip Shanghvi $19.7 B India
#39 Len Blavatnik $19.2 B United States
#40 Tadashi Yanai & family $18.4 B Japan

 

Encomium

Written by Encomium

A media, tech and events company.

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Dangote’s net-worth further drops to $20 billion -loses another $1.3 billion in a few hours