Dangote slides down Forbes richest people’s list, loses $2.5bn in 4 weeks

The richest man in Africa and the president / chief executive of Dangote Industries Limited, Aliko Dangote fell on Forbes' rich list after its total net worth fell $ 2.5 billion in the past 30 days.

The Bloomberg Billionaires Index reports that the ranking of the world's 500 richest people showed that Dangote's wealth fell from $ 15.9 billion on February 25, 2020 to $ 13.4 billion on March 26.

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Dangote, who reached $ 16.5 billion on January 27, 2020, was the only Nigerian on the list of 500 billionaires and maintained his position as the richest person in Africa in the last ranking, which now makes him the 77th most world's richest with $ 13.4 billion.

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“The richest person in Africa controls Dangote Industries, a privately held conglomerate. The Lagos-based company in Nigeria owns the largest cement producer in Sub-Saharan Africa, Dangote Cement, which had revenue of N901.2 billion (US $ 2.5 billion) in 2018. It also has interests in sugar, salt , flour, fertilizers and packaged foods, ”said Bloomberg.

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The share price of Dangote Cement Plc, the largest company listed on the Nigeria Stock Exchange, fell 23.71%, to N129.70 on Thursday, from N170 on February 25, 2020, forcing a decline in its earnings .

The founder and CEO of Amazon, Jeff Bezos, remains the richest person in the world, with a total net worth of $ 116 billion, followed by Bill Gates ($ 96.4 billion), Bernard Arnault ($ 77 billion), Warren Buffett ($ 71, 2 billion) and Mark Zuckerberg ($ 60 billion).

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