Nigerian billionaire femi otedola lost $400 million in 9 weeks


Nigerian billionaire Femi Otedola has lost more than $400 million of his personal fortune over the last 9 weeks as the stock price of Forte Oil, the Nigerian-listed energy behemoth he controls, shed off 43.5% in value within that period.


In late February the share price of Forte Oil hit an all-time high of N342 per share after the Lagos-based utilities and petroleum marketing company released its impressive 2015 FY results and declared an attractive dividend of N3.45 per share. However, as at close of trading today (Tuesday), its share price has dropped to N193.46 after recording consistent daily losses over the past few weeks. Otedola, who is the company’s controlling shareholder, has seen his paper net worth drop from $1.6 billion when FORBES published its annual ranking of the World’s Billionaires in March, to $1.2 billion today, according to the FORBES’ real-time billionaire scorecard.

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source:
http://www.blebleblog.com/2016/05/nigerian-billionaire-femi-otedola-lost.html?m=0

still imaging

I think is good for him

abi?

Ask he take get all these money self?

Well, he won't diversify.

ask am where the money from coming

See men way dey handle naija

I tell u. Na dem get the naija

see as dem they call the amount self... man dey hungry ooo

The thing dey fear me too oooo

dey wonder how them take they control all this money ...

Tell then make dem make u the account

sho... u funny oooo