Nigerian billionaire Aliko Dangote, Africa’s richest person,
fell
25 places on the Bloomberg Billionaires Index on Monday as
the
naira tumbled on its first day of trading without a peg to the
U.S. dollar.
Dangote’s fortune fell $3.7 billion, knocking him to No. 71
on
the Bloomberg ranking, down from No. 46 on Friday. The
majority of Dangote’s $12.7 billion fortune is derived from a
91
percent stake in Dangote Cement Plc, which shed 2 percent
in
trading Monday.
The Central Bank of Nigeria began auctioning dollars to limit
the
currency’s decline. The bank had been using capital controls
to
stem an outflow of dollars after the naira crashed in
February
2015 when oil prices slumped.
Dangote’s slide came as equity markets worldwide surged on
hopes that British voters would choose to remain in the
European Union. The upswing lifted the collective net worth
of
the 400 billionaires on the index by $44 billion to $3.99
trillion.
Amancio Ortega, Europe’s richest person, French luxury
billionaire Bernard Arnault and Amazon.com founder Jeff
Bezos
led with respective daily gains of $2 billion, $1.4 billion and
$1.1 billion.
After Dangote, the second-biggest drop belonged to U.S.
casino
billionaire Sheldon Adelson, whose Las Vegas Sands fell 5.6
percent along with other gambling stocks after reports that
revenue was trending downward. Adelson, who lost $1.1
billion
Monday, is the world’s 29th-richest person with $23.3

http://solidvevo.com.ng/2016/06/21/dangote-loses-3-7billion-drops-25-places-billionaire-list/

Dangote has been dropping since Buhari came to power, thanks to buharinomics.