The President / Chief Executive , Dangote Industries Limited , Aliko Dangote , saw its total net worth drop by $ 2 . 5 bn in the last 30 days , according to Bloomberg Billionaires Index .
The index , which is a ranking of the world’ s 500 richest people , showed that his wealth fell from $ 15 . 9bn as of February 25 , 2020 to $ 13. 4bn on March 26 . It had risen to a high of $ 16 . 5bn on January 27.
He was the only Nigerian on the list of 500 billionaires and retained his position as Africa ’ s richest person .
“ Africa ’ s richest person controls Dangote Industries , a closely held conglomerate . The Lagos, Nigeria- based company owns sub -Saharan Africa ’ s biggest cement producer, Dangote Cement , which had revenue of N 901. 2 bn ( $ 2 . 5bn ) in 2018 . It also has interests in sugar, salt, flour , fertiliser and packaged food , ” Bloomberg said .
The share price of Dangote Cement Plc , the biggest listed company on the Nigerian Stock Exchange, fell by 23 . 71 per cent to N 129 . 70 on Thursday from N 170 on February 25 , 2020 .
Dangote became $ 4 . 3 bn richer in 2019 , ending the decade with a net worth of almost $ 15 bn , making him the 96 th wealthiest man in the world, according to the index .
The founder and Chief Executive Officer of Amazon , Jeff Bezos, remains the richest person in the world with a total net worth of $ 116bn , followed by Bill Gates ( $ 96 . 4bn ) , Bernard Arnault ( $ 77bn ) , Warren Buffett ( $ 71. 2 bn ) and Mark Zuckerberg ( $ 60 bn ) .
According to Bloomberg , net worth figures are updated every business day at the close of every trading day in New York , with assets categorised as publicly traded companies , private assets ( including closely held businesses, art and real estate ) , cash and other liquid investments and liabilities .
“ Stakes in publicly traded companies are valued using the share ’ s most recent closing price . Valuations are converted to US dollars at current exchange rates ,” it said .


https://punchng.com/billionaires-list-dangote-loses-2-5bn-in-one-month/

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