Dangote Moves Four Places Up, Loses N10.428 Billion in One Month
- Nigeria and Africa's richest man, Aliko Dangote has moved four places up the billionaires table in the latest ranking
- However, the move did not improve his personal wealth as the billionaire lost about N10.4 billion in one month
- An Indian business tycoon, Gautam Adani emerged the third richest man after displacing Bill Gates last month
Despite moving four places up on the billionaire's table, Nigeria's billionaire and industrialist, Aliko Dangote, lost about N10.4 billion of his fortune.
In the latest ranking by Bloomberg, Dangote placed 76 on the table, four places up from his 80th position last month, but the move did not translate to improvement in his fortunes.
Source: UGC
Dangote Cement shares flounders
Africa's richest man lost a whopping N10.4 billion due to the fall in the share of his cement company, Dangote Cement.
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The index year-to-date showed the billionaire in a deficit of -$15.3 million, meaning a loss for the month ending August 31.
The surprise on this year's billionaire index was that of Gautam Adani, the Indian business tycoon who emerged the third-richest man in the world, behind Elon Musk and Jeff Bezos.
Adani is the owner of Adani Group, an Indian multi-national conglomerate which operates port services, power transmission, renewable energy and airport services.
Adani strikes energy deal
His company signed a major deal with TotalEnergies for a renewable energy partnership.
Adani is said to be a school dropout and had displaced Microsoft founder Bill Gates last month from the fifth position and raced to the top three places in less than one month.
According to various reports, his fortunes increased by $60 billion this year.
World’s third-richest man, Gautam Adani, is a school dropout and has made $60 billion this year
Recall that Legit.ng reported that the third richest man in the world, Gautam Adani, has made about $60 billion this year alone as other 499 billionaires struggled to add to their wealth. Indian-born Gautam Adani’s exceptional wealth gain started this year.
Bloomberg said that with a a fortune of $137 billion, he has surpassed any other billionaire, most of whom have their wealth dropped this year.
Source: Legit.ng
