Africa’s richest man, Aliko Dangote, on Monday, lost N141 billion following intense pressure of global markets as a result of ripples from the Chinese economic crisis.
He joins a long list of billionaires whose fortunes have tumbled over the past few days.
According to Bloomberg Billionaires Index, Dangote lost $708.6 million (N140 billion) as Chinese stocks sank lower after a rout on August 24 that the official state news agency, Xinhua, dubbed ‘Black Monday.’
Dangote gained $79.2m (N15.6bn) gain fromThursday to Friday last week, only to lose the same amount about nine times over.
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