According to the Bloomberg’s ranking of the world’s richest people, on Monday, August 24, Aliko Dangote, lost N141billion just in a 24-hour period.
The Cable reports that the famous businessman and philanthropist joined numerous billionaires and lost $708.6 million (140 billion) following intense pressure of global markets as a result of ripples from the Chinese economic crisis.
The president of Dangote group gained $79.2m (N15.6bn) from Thursday to Friday last week, only to lose the same amount multiplied by nine.
According to the Bloomberg, only 3 out of top 200 billionaires received gain on “Black Monday”.
On December 23, 2014, Dangote lost more than $7.8bn of his estimated $25bn fortune between February and December due to the slump in oil prices.
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