Business
Dangote’s net worth drops, lowest in a year
Africa’s richest man, Aliko Dangote’s net worth dropped to $18.8 billion, the lowest since September last year. The drop in Dangote’s wealth followed the loss of $18.6 million in one day.
The development brought the billionaire’s loss this year to $279 million, according to data by the Bloomberg index.
The index which tracks the wealth of the world’s 500 billionaires revealed that Dangote’s current net worth makes him the 77th richest man in the world as of September 18.
READ ALSO: Dangote loses N351.57bn in six hours as investors dump company’s shares
The businessman’s wealth has been dropping massively since May, no thanks to Dangote Cement, his major source of wealth, underperformance.
In May, when the company’s share price was N300.00, Dangote rose as high as 60 on the billionaire’s index.
Since May, however, Dangote Cement’s share price has fallen by 21.33 percent, closing at N236 on the last trading day.
The drop in its company’s share price has wiped out more than $2 billion of Dangote’s wealth in just five months.
-
Education1 week agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Football1 week agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy
-
Football3 days agoFrance confirms U-20 Women’s World Cup participation amid FIFA-UEFA rift
-
Business3 days agoNigeria’s external debt service falls 31.5% to $954m in Q1 2026
-
Featured3 days agoOsun Governorship Election: Adeleke faces tough test as APC, ADC mount challenge
-
Latest2 days agoNFF denies calling for Infantino’s resignation
-
Business3 days agoNNPC faces fresh scrutiny over oil licensing, production claims, transparency
-
Business1 week agoBreaking: NNPCL reduces pump price of petrol as competition intensifies