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Home Industries Company News

[Win Some, Loose Some] As ‘Black Monday’ Snatches N140 Billion From Mr. Dangote

Editor by Editor
August 26, 2015
in Company News
[Win Some, Loose Some] As ‘Black Monday’ Snatches N140 Billion From Mr. Dangote
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Aliko Dangote’s wealth drops to $19 billion, now 80th world’s richest

EFCC battles black market to boost naira, local currency gains N60 to $1 within a week

  • While other world billionaires lost tons of money last week, Aliko Dangote gained $79.2m (N15.6bn) from Thursday to Friday.
  • But his turn was yet to come, and the hit was harder than expected.
  • According to Bloomberg’s Billionaires Index, Dangote lost N141 billion on ‘Black Monday’.
  • The loss of huge fortune by Africa’s richest man was as a result of the pressure on global markets, due to the Chinese economic crisis.
  • After Chinese stocks further nosedived on Monday, Dangote was reported to have lost $708.6 million (140 billion).
  • 197 billionaires, including Dangote, lost billions of dollars in 24 hours, with only three of the world’s top 200 billionaires making a gain on Black Monday.

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