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Otedola loses additional $100 million, Adenuga sheds $300 million

Femi Otedola


…as Dangote gains $300 million

It is mixed fortunes for our top 5 billionaires, as two of them lost $400 million in days, one gained $300 million and two retained their net worth.

Stylish man of means, Mr. FEMI OTEDOLA, 52, who lost $400 million in 9 weeks (from his $1.6 billion fortune), again forfeited $100 million. His total loss today (Wednesday, May 4, 2016) got to $500 million. Today on Forbes rich list, the soft spoken gentleman from Odoragusin, near Epe (Lagos) was at number 1,783 with $1.1 billion.

The shocking drop in his net worth was attributed to ‘massive sell offs of bonus from some of Forte Oil’s retail investors. The company is said to have shed about 43 per cent of its share value. ‘

Africa’s pride and its richest person, ALHAJI ALIKO Dangote, 59, gained $300 million, moving his net worth to $17.3 billion. He dangled at $17 billion for a few weeks, and now stands at number 48 on the list.

Dr. Michael Adenuga, Jnr., who crossed the below 100 mark last week as he celebrated his 63rd birthday on April 29, with $11.4 billion (and sitting at number 99), has off-loaded $300 million by today. His fortunes perches on $11.1 billion, and he is at number 102.

Mrs. Folorunsho Alakija, 65, still retains her $1.6 billion net worth. And she is caressing number 1,252,

ALHAJI Abdulsamad Rabiu, 55, has kept his $1.2 billion net worth for months. He struts on number 1,638.

Our 5 top billionaires have just marginally increased their cumulative fortunes to $32.3 billion.


– Agbolade Owolabi for


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