Cover Stories, News

Dangote loses $400 m in one week

 -Top 5 billionaire shed $200 million from fortunes

The out-of-breath economy, with crumbling stocks and cascading Naira, has further clobbered the five richest Nigerians in the last one week. Their combined net-worth recorded a loss of $200 million (N40 billion).

Out of the five billionaires, only two recorded gains, while two maintained their fortunes and one made a huge loss on the Forbes rich list.

From their $21.4 billion fortunes last week, they dropped to $21.2 billion!

ALHAJI Aliko Dangote, 58, lost $400 million (N80 billion), from $14 billion to $13.6 billion ( by Monday, February 8, 2016).

Dr. Michael Adenuga, Jnr, 62, gained $100 million (N20 billion), from $3.1 billion to $3.2 billion.

Femi OTEDOLA, 52, and Mrs. Folorunsho Alakija, 65, maintained their $1.6 billion net- worth.

ALHAJI Abdulsamad Rabiu, 55, gained $100 million (N20 billion) in one week, from $1.1 billion to $1.2 billion.

At their peak on the Forbes rich list, Dangote was worth $25 billion; Adenuga, $4.7 billion; Alakija, $2.5 billion; Otedola, $1 billion and Rabiu, $1.2 billion.

On Monday, February 8, 2016, here’s how Nigeria’s richest persons stood on Forbes table – Dangote, number 64; Adenuga, 545; Otedola, 1,087; Alakija, 1,121 and Rabiu, 1,459.

The fortunes of our most blessed billionaires are linked to the stock market and volatile oil prices. And with the crash in oil prices from over $100 to about $30, and stock market losing N6 trillion in 18 months, their fortunes are exposed to clear and present danger.




About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.