Due to stock market exchange turmoil, the chairman of Dangote group has lost $900 million in a single day, becoming the biggest loser in the stock market, according to Bloomberg.
Bloomberg in a report on 500 richest people in the world, reported that Dangote’s wealth has reduced from $18.4 billion on Thursday to $17.5 billion on Friday, as a result, the African richest man from 106 to 114 in the list of the world richest men.
In December last year, Dangote’s wealth reached $17.8 billion from $15.5 billion.
Dangote also accumulated $600 million early January 2021, but he has lost all of it last Friday.
Despite the loss, Dangote remains the richest black man in the world.