Business

Dangote’s net worth dropped by $200m, retains position of richest in Africa

The financial fortune of Chairman of Dangote Group, Aliko Dangote, has dropped by $200m, according to Forbes.

The organisation estimated that Dangote’s wealth dropped from $10.3bn in the previous year to $10.1bn, SaharaReporters reports.

However, Dangote remains the richest man in African for the 9th consecutive year.

The American media company attributed this to the slightly lower stock price of Dangote Cement.

Chairman of Globacom Communication, Mike Adenuga, was named the third richest man in Africa with a net worth of $7.7bn.

Nigeria’s Abdulsamad Rabiu with 98.5 per cent stakes in BUA Cement Plc, is number eight on the list of top 20 African billionaires.

Vice Chairperson of Famfa Oil, Folorunso Alakija, was named number 20 on the list with a value of $1bn.

The ranking organisation also revealed that the collective worth of Africa’s billionaires increased from $68.7bn a year ago to $73.4bn today.

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