Africa's richest man, Aliko Dangote, has
dropped out of the list of top 100 richest
people in the world. This is largely due to the
devaluation of the Naira. Dangote who owns
the second largest sugar-refinery in the world,
remains richer than American billionaires,
Donald Trump, and Oprah Winfrey who ranks
as the second richest black woman in the
world.
Dangote is now worth $11.1 billion, while
Trump and Oprah are estimated at $4.5
billion and $3.1 billion, respectively.
The devaluation of the Naira against the
dollar from about 198 to about 300, has
eroded about a quarter of Dangote’s wealth as
he continues to invest heavily in Nigeria. At
the launch of the new foreign exchange regime
on June 23rd, Dangote fell from number 46 on
the world billionaire list to 71 and has
continued to drop as the Naira continues to
crash.
According to Bloomberg billionaires, Dangote,
who was worth $15.4 billion (N3.05 trillion)
in March, is now worth $11.1 billion (N3.3
trillion) - richer in naira but poorer in dollars.
posted by: TAGED
