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NIGERIA CRIPPLES DANGOTE’S FUND

NIGERIA CRIPPLES DANGOTE’S FUND

NIGERIA CRIPPLES DANGOTE’S FUND

BY OMOKHUALE PUAH

The chairman, dangote group, who is also one of the richest man in the world, Alhaji Aliko Dangote has lost $5.4 billion in this year.

This was stated in the data obtained from the bloomberg billionaires index on wednesday, where it was also discovered that using an average exchange rate of n250 per dollar, the $5.4billion loss increases to n1.35 trillion.

According to the bloomberg billionaires index it was discovered, that the sharp drop in the net worth of alhaji dangote was due to the devaluation of the naira in june by the central bank of nigeria and the fall in the commodity price.

The report which placed dangote’s networth on at $9.9 billion, also pinned the fact that it had been on a 62 percent drop since january, 2014.

The billionaires index also stated that dangote being the richest is trailed by the africa’s world second-richest person, south african christo wiese, with its fortune of 12 percent by $2.8 billion on the index this year

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