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Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index - Business - Nairaland

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Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Truth234(m): 4:23am On Dec 29, 2016
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has lost 32 percent of his wealth, according to the Bloomberg Billionaires’ Index.

Bloomberg reported on Wednesday that Dangote lost $4.9bn or one-third of his wealth as the combined effect of falling oil prices and the June devaluation of the naira pushed him to No. 112 on the billionaires’ list with $10.4bn. Dangote was the world’s 46th-richest person in June.

Saudi Arabia’s Prince Alwaleed Bin Talal Al Saud fell by $4.9bn, a 20 percent drop, the report added.

Alwaleed had said in November that all of his stakes in public companies, including Citigroup Incorporated, were potentially for sale, reversing a longstanding policy that some of his most-prized shareholdings were “forever.”

Wealth creation in China turned negative for the first time since the inception of the Bloomberg index five years ago, with the country’s richest losing $11bn in 2016 amid a slump in the Shanghai Shenzhen CSI 300 index and a seven per cent decline for the yuan against the dollar.

Alibaba Group Holding Limited’s founder, Jack Ma, closed the year with $33.3bn, adding $3.6bn in 2016. He dropped in and out of his place as Asia’s richest person for the first four months of the year before claiming it for good in May, after Alibaba’s finance affiliate, which is laying the groundwork for an initial public offering expected as soon as next year, completed a record $4.5bn equity fundraising round.

China has 31 billionaires on the index with $262bn, trailing the US, which has 179 billionaires who control $1.9tn, and Germany, whose 39 individuals have $281bn.

Russian billionaires also began to put the negative effects of the US and European sanctions behind them, reversing the combined $63bn declines for 2014 and 2015, and adding $49bn in 2016.

Wealth managers for the world’s richest are girding themselves for similarly frenetic start to 2017 as the seismic changes that voters demanded this year start to take shape.

“Expect the unexpected,” said Sabine Kaiser, founder of SKadvisory, which advises family offices on venture capital and private equity. “I don’t think family offices are overly concerned or getting too nervous but after Brexit and Trump, they’ve resigned themselves to market volatility.”

In a year when populist voters reshaped power and politics across Europe and the U.S., the world’s wealthiest people are ending 2016 with $237 billion more than they had at the start.

However, the Bloomberg Billionaire index revealed that the world’s richest made $237bn this year.

The gains were led by Warren Buffett, who added $11.8bn during the year as his investment firm, Berkshire Hathaway Incorporated, saw its airline and banking holdings soar after Donald Trump’s surprise victory on November 8. Buffett, who’s pledged to give away most of his fortune to charity, donated Berkshire Hathaway stock valued at $2.6bn in July.

The US investor reclaimed his spot as the world’s second-richest person two days after Trump’s victory ignited a year-end rally that pushed his wealth up by 19 per cent for the year to $74.1bn.

“The year 2016 has been event-driven with global news driving prices rather than fundamentals,” said Michael Cole, president of Ascent Private Capital Management, which has about $10bn of assets under administration.”

http://investorsking.com/dangote-loses-32-of-wealth-in-2016-bloomberg-index/
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by bada007(m): 4:24am On Dec 29, 2016
coolFTC
I have nothing to say grin coolFTC
I have nothing to say
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Nobody: 4:26am On Dec 29, 2016
We don dear

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by KwaraRat: 4:26am On Dec 29, 2016
If not for buhari subsidising Dangote through a special forex rate in order to recoup local earnings to meet foriegn obligations, the man Dangote would have lost at least 60% of his wealth.

35 Likes 3 Shares

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by EYIBLESSN(m): 4:27am On Dec 29, 2016
This concern me so? Loose or Gain. Who E EPP

3 Likes

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Blue3k(m): 4:31am On Dec 29, 2016
All paper loses after recession assets will recover.
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Truth234(m): 4:33am On Dec 29, 2016
KwaraRat:
If not for buhari subsidising Dangote through a special forex rate in order to recoup local earnings to meet foriegn obligations, the man Dangote would have lost at least 60% of his wealth.

Lie, Dangote has closed some of his businesses. He is sustaining functioning ones via forex from other businesses spread across Africa. That is the edge he has over Erisco, Otedola and the likes. No preferential treatment.

3 Likes

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by chriskosherbal(m): 4:35am On Dec 29, 2016
Well that's bad.. But I trust him to recover and bounce back .

https://www.nairaland.com/3438574/see-practical-testimonies-herbal-powdersolving
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by KwaraRat: 4:45am On Dec 29, 2016
Truth234:


Lie, Dangote has closed some of his businesses. He is sustaining functioning ones via forex from other businesses spread across Africa. That is the edge he has over Erisco, Otedola and the likes. No preferential treatment.

Rubbish!

Dangote was made by govt subsidy under Obasanjo which gave him monopoly to import unfit for consumption rice. It is from there he got a lucrative sugar import monopoly and there his business empire sprang.

Dangote group requires top level govt intervention by providing waivers and necessary policy to ensure his monopoly. The Vaswani brothers who imported rice as well were kicked out of Nigeria to pave where for Dangote and Folawiyo's dominance.

43 Likes 2 Shares

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Truth234(m): 4:53am On Dec 29, 2016
KwaraRat:


Rubbish!

Dangote was made by govt subsidy under Obasanjo which gave him monopoly to import unfit for consumption rice. It is from there he got a lucrative sugar import monopoly and there his business empire sprang.

Dangote group requires top level govt intervention by providing waivers and necessary policy to ensure his monopoly. The Vaswani brothers who imported rice as well were kicked out of Nigeria to pave where for Dangote and Folawiyo's dominance.


Lol..Beer parlour talk

7 Likes 1 Share

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by KwaraRat: 4:55am On Dec 29, 2016
Truth234:


Lol..Beer parlour talk

Go sleep.

In the early 2000's you were still in primary school

52 Likes 3 Shares

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by orisa37: 5:27am On Dec 29, 2016
This is a Loss due entirely to Naira Devaluation. Bokoharam, Fulani Herdsmen, Leakages and Compensation payments to neighbouring Muslim Countries to contain Bokoharam and Sharia, CBN ineffective and inappropriate policies and wastage of Nigerian Foreign Earnings, Biafra and Niger Delta Avengers are among the causes of Dangotes sacrifice and loss in his fortune.

2 Likes

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Nutase: 6:06am On Dec 29, 2016
To who?
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by supereagle(m): 6:20am On Dec 29, 2016
MMM Nigeria are are crying. Please learn from the man please.
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by orisa37: 6:23am On Dec 29, 2016
I now appreciate your madness too.
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by psucc(m): 6:28am On Dec 29, 2016
This people will make the man increase prices of his products.
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by sainty2k3(m): 7:23am On Dec 29, 2016
Yes ,we know but the remaining 70 % is enough to see him multiply his wealth again
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by AntiZombie: 7:23am On Dec 29, 2016
paper loss sha



his refinery and other stuff will still lift him soon
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by MKO4ever(m): 7:23am On Dec 29, 2016
32% in one year, and Buhari will be in power for four years.
By end of the 3rd year at this rate, the guy would have lost 96% of his wealth

23 Likes 3 Shares

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Amazondepth(m): 7:23am On Dec 29, 2016
Buhari is working

1 Like

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by sammyj: 7:24am On Dec 29, 2016
The man will still get his money back from his new refinary. However, I just wonder how our government will be depending on one man to solve his energy problem . God bless Nigeria! !
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Atiku2019: 7:27am On Dec 29, 2016
cry cry cry cry

1 Like

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by eezeribe(m): 7:28am On Dec 29, 2016
He only lost 32% of his paper worth.Those who understand this statement have understood it.those who don't understand will start quoting like dogs on heat

2 Likes

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Promismike(m): 7:28am On Dec 29, 2016
Buhari not just the problem of nigeria. Nigeria has been deteriorating years before he came to power. The conrinous deterioration in our ethnic -social, political and economic systerm is a pointed that we have been on a wrong course and need to purse a bit to consider restructuring or fiscal federalism just like USA did before they became so succesful. Restructuring or fiscal fedeealim will not kill us or devide us. It can only make us better.
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by Mayflowa(m): 7:30am On Dec 29, 2016
KwaraRat:


Rubbish!

Dangote was made by govt subsidy under Obasanjo which gave him monopoly to import unfit for consumption rice. It is from there he got a lucrative sugar import monopoly and there his business empire sprang.

Dangote group requires top level govt intervention by providing waivers and necessary policy to ensure his monopoly. The Vaswani brothers who imported rice as well were kicked out of Nigeria to pave where for Dangote and Folawiyo's dominance.


Talk about everyone but Vaswani brothers. Those are the worst criminals in doing business. By the way, they still have huge holdings in Nigeria!

2 Likes

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by KellyFORMAT(m): 7:32am On Dec 29, 2016
Y
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by promise4040: 7:33am On Dec 29, 2016
May God help us o! This is in contrast with the last administration wen dangote confessed that he made gains wen GEJ was there. I pray dangote won't lose 100% b4 2019.

6 Likes 1 Share

Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by eph12(m): 7:37am On Dec 29, 2016
supereagle:
MMM Nigeria are are crying. Please learn from the man please.
What have you learnt?
Re: Dangote Loses 32% Of Wealth In 2016 – Bloomberg Index by DaniDani(m): 7:37am On Dec 29, 2016
Just one year in office dangote has lost 34% of his wealth. I pray that he don't become poor after Buhari's 4years.

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