– The new year started with uncertainty as Africa’s richest man reportedly lost KSh 98 billion (US$900 million) – Dangote, as at December 13, 2020, was worth $17.8 billion (Ksh 1.9 trillion) which further rose in the early weeks of 2021 – The loss, according to a report, has made Dangote drop in the list of billionaires across the world.

It does not seem to be a bright new year yet as Aliko Dangote, Africa’s richest man, reportedly lost a total of KSh 98 billion (US$900 million) within 24 hours, according to a report by Bloomberg. Dangote’s company was rated the biggest loser at the end of trading on the Nigerian Stock Exchange. His wealth reportedly fell from $18.4 billion (Ksh 2 trillion) to $17.5 billion (Ksh 1.9 trillion) on Friday, January 8 as published by the Bloomberg Billionaires Index.


Dangote lost $900 million at the end of trading activities at the Nigerian Stock Exchange Source: LinkedIn Source: Getty Images However, despite the loss, Dangote still maintained a place among the 500 billionaires across the world and is now number 114 on the list of the wealthiest people in the world.


He was 106th before the loss, and still remains the only Nigerian on the list as reported by Bloomberg. Dangote made some additional fortunes towards the end of 2020 with his wealth jumping from $15.5 billion (Ksh 1.7 trillion) on December 13 to $17.8 billion (Ksh 1.9 trillion). When the world entered a new year 2021, he further gained $600 million (Ksh 65 billion) within the first week. In December 2020, TUKO.co.ke listed the richest Nigerians, with only four making it to the billionaire category. The four were Aliko Dangote, Mike Adenuga, Folorunsho Alakija, and Abdulsamad Rabiu, with Alakija being the only Nigerian woman on the list.


In January 2020, TUKO.co.ke reported that Dangote had rolled out a plan to take over English Premier League club Arsenal in 2021. Dangote, an Arsenal fan, was previously linked with the purchase of the club from Stan Kroenke – a deal that was worth over $4 billion (KSh 438 billion).



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