Hot Stories

Saudi Arabia Executes 2 Bangladeshis Over 'Immoral Act' Inside Mosque

Priest Dies After Giant Cross Falls on Him During Live Church Service

Ronaldo Gets 30 Day Ban for Walking Out on Portugal

Kenyan Pastor Convicted After Hundreds of Children, Others Found Dead in Shakahola Forest

JAMB Gives Candidates Another Chance to Correct NIN Details

3 Men in Court Over N18.2m Tunde Ednut Identity Scam

10-Year-Old Twins Set to Unveil Their First Book in Lagos

Osun Brings Back Weekly Sanitation Exercise Every Thursday

Global Expectation Soars as Healing Streams Returns for Final 2026 Edition

Woman Admits Knowing Ex-Boyfriend Was an Armed Robber After Arrest

Lagos Announces Independence Bridge Closure for Weekend Repairs

President Tinubu Sparks Reactions After Calling Himself Governor at APC Event

Tinubu Tells Judges to Stop Powerful People From Delaying Corruption Cases

Girl Wakes Up in Her Coffin During Her Own Funeral

KACRAN Urges INEC to Extend PVC Collection Deadline by One Week

Atiku Promises Nigerians Cheaper Living and Better Security If Elected

Pope Leo XIV Brother Battles Cancer as Family Faces Double Health Crisis

OpenAI Engineer Arrested After Secret Recording Device Discovery

Air India Flight Diverted After Shocking Security Scare

Kano Tailor Tries to Sew for 120 Hours to Break World Record

Ouch! See How Much Nigerian Billionaire Aliko Dangote Lost Under 24Hours

Posted by Lolade on Wed 26th Aug, 2015 - tori.ng

Global market conditions have cost Africa's richest man, Aliko Dangote a significant portion of his wealth.

Aliko Dangote

Bloomberg’s ranking of the world’s richest people, on Monday, August 24, revealed that Africa's richest man, Aliko Dangote, lost N141billion just in a 24-hour period.

The Cable reports that the famous businessman tycoon lost $708.6 million (140 billion) following intense pressure of global markets as a result of ripples from the Chinese economic crisis.

The President Dangote Group gained $79.2m (N15.6bn) from Thursday to Friday last week, only to lose the same amount multiplied by nine.

According to the Bloomberg, only 3 out of top 200 billionaires received gain on “Black Monday”.

On December 23, 2014, Dangote lost more than $7.8bn of his estimated $25bn fortune between February and December due to the slump in oil prices.