Africa's richest man Aliko Dangote loses $900m in just 24 hours

Africa's richest man Aliko Dangote loses $900m in just 24 hours

- The new year started with uncertainty as Africa's richest man reportedly lost $900 million

- Dangote, as of December 13, 2020, was worth $17.8 billion which further rose in the early weeks of 2021

- The loss, according to a report, has made Dangote drop in the list of billionaires across the world

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It does not seem to be a bright new year yet as Aliko Dangote, Africa's richest man, reportedly lost a total of $900 million within 24 hours, according to a report by Bloomberg.

Converted, it means that the president of the Dangote group lost N343,125,000,000 as his company was rated the biggest loser at the end of trading on the Nigerian Stock Exchange.

With the loss, Dangote's wealth reportedly fell from $18.4 billion to $17.5 billion on Friday, January 8 as published by the Bloomberg Billionaires Index.

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Africa's richest man Aliko Dangote losses $900m in just 24 hours
Dangote lost $900 million at the end of trading activities at the Nigerian Stock Exchange Source: LinkedIn
Source: Getty Images

However, despite the loss, Dangote still maintained a place among the 500 billionaires across the world and is now number 114 on the list of the wealthiest people in the world.

He was 106th before the loss. He is now the only Nigerian on the list reported by Bloomberg.

Dangote made some further fortunes towards the end of 2020 with his wealth jumping from $15.5 billion on December 13 to $17.8 billion.

When the world entered the new year 2021, he further gained $600 million within the first week.

In December 2020, had reported that only four Nigerians made its list of billionaires.

It listed these Nigerian businessmen to include: Aliko Dangote, Mike Adenuga, Folorunsho Alakija, and Abdulsamad Rabiu.

Alakija was the only Nigerian woman who made the list before the year ended.

Earlier, reported that Dangote hinted on a possible takeover of Premier League giants Arsenal saying the takeover could happen in 2020 or 2021.

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Dangote, an Arsenal fan, was previously linked with the purchase of the club from Stan Kroenke - a deal that could gulp over $4 billion from his pocket.

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