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Nairaland Forum / Nairaland / General / Business / Dangote Loses $700mil To Chinese Stocks Crash In 24 Hrs (508 Views)
Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index / Dangote Loses $ 3 . 7 Billion , Drops 25 Places On Billionaire List / Dangote Loses N141bn In 24hrs (2) (3) (4)
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Dangote Loses $700mil To Chinese Stocks Crash In 24 Hrs by AzontoGhost(m): 4:58pm On Aug 27, 2015 |
Nigeria and Africa’s richest man, Aliko
Dangote has lost N141 billion the equivalent
of $700 million following intense pressure of
global markets as a result of ripples from the
Chinese economic crisis.
Dangote joins a long list of billionaires whose
fortunes have tumbled over the past few days.
The president of Dangote group lost $708.6
million (N140 billion) as Chinese stocks sank
lower after a rout on August 24 that the official
state news agency, Xinhua, dubbed ‘Black
Monday.’
According to Bloomberg’s Billionaires Index,
Dangote gained$79.2m (N15.6bn) from
Thursday to Friday last week, only to lose the
same amount about nine times over.
The 58-year-old was just one of 197
billionaires who lost billions of dollars in 24
hours, with only three of the world’s top 200
billionaires making gain on ‘Black Monday.’
Wang Jianlin, Asia’s richest man, and Bill
Gates, the world’s richest man, lost $3.6
billion and $3.2 billion respectively as the
worst-hit billionaires on Monday.
Mark Zuckerberg, Facebook founder, lost $1.7
billion , placing him behind Warren Buffet ,
world number three billionaire, who lost $2
billion.
The only three gainers were Alwaleed al-Saud,
a Saudi business magnate; Tadashi Yanai,
founder of Japanese Fast Retailing; and Petr
Kellner, a Czech businessman. They gained
$169 million, $105.5 million and and 87.3
million respectively. |
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