Dangote’s net worth crashes as he loses $900m in a day

January 12, 2021
18 Views

The Chairman Dangote Group, Aliko Dangote’s total net worth crashed and dropped by $900m on Friday shaking his position on the billionaires list.

The crash followed a loss encountered by his flagship company at the end of trading on the Nigerian Stock Exchange (NSE), making him the biggest loser of the day.

The share price of Dangote Cement Plc. crashed by 8.13 per cent, closing at N225 on Friday from N244.90 on Thursday.

Fidelity Leaderboard

According to Bloomberg Billionaires Index, Dangote’s wealth fell from $18.4 billion on Thursday to $17.5 billion on Friday, relegating him to 114th from 106th in the billionaires log table barely 24 hours earlier.

Dangote’s net worth had hit the $17 billion mark on December 13, 2020, and gained another $600 million in the first week of 2021.

Related Posts

All gains were, however, lost on Friday, January 8.

According to Bloomberg, “the majority of Dangote’s fortune is derived from his 86 per cent stake in publicly traded Dangote Cement.

“He holds the shares in the company directly and through his conglomerate, Dangote Industries.

“A $12 billion oil refinery that is currently being developed in Nigeria isn’t included in the valuation because it’s not yet operational and construction costs are calculated to outweigh its current value,” the report noted.



DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!


Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!


DOWNLOAD ElombahNews mobile app here


Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 


For adverts & inquiries, call +447460770987, +2349050382526

You may be interested

FG, UK Government at ‘war’ over asylum to IPOB members
News
News

FG, UK Government at ‘war’ over asylum to IPOB members

admin - April 21, 2021

FG, UK Government at ‘war’ over asylum to IPOB members Posted by News Express | 20 April 2021 | 978…

      Sacked police officer Derek Chauvin was convicted of murder and manslaughter Tuesday in…
News
News

      Sacked police officer Derek Chauvin was convicted of murder and manslaughter Tuesday in…

admin - April 21, 2021

BREAKING: Ex-Cop Derek Chauvin convicted of murder, manslaughter in George Floyd’s death Posted by News Express | 20 April 2021…

Clash Of The Titans
News
1 views
News
1 views

Clash Of The Titans

admin - April 21, 2021

BY Hannatu Musawa The 1981 Hollywood Blockbuster movie, Clash Of The Titans starring actor Harry Hamlin chronicles the adventures of…

Leave a Comment