The President/Chief Executive, Dangote Industries Limited,
Aliko Dangote, saw its total net worth drop by $2.5bn in the last 30
days, according to Bloomberg Billionaires Index.
The index, which
is a ranking of the world’s 500 richest people, showed that his wealth
fell from $15.9bn as of February 25, 2020, to $13.4bn on March 26. It
had risen to a high of $16.5bn on January 27.
He was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person.
“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.
Dangote became $4.3bn richer in 2019, ending
the decade with a net worth of almost $15bn, making him the 96th
wealthiest man in the world, according to the index.
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).
According to Bloomberg, net worth
figures are updated every business day at the close of every trading day
in New York, with assets categorised as publicly traded companies,
private assets (including closely held businesses, art and real estate),
cash and other liquid investments and liabilities.
“Stakes in
publicly traded companies are valued using the share’s most recent
closing price. Valuations are converted to US dollars at current
exchange rates,” it sai.
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