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Dangote Still Africa’s Richest Man Despite $10.3 Billion Loss

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Financial analysts have revealed that Nigerian billionaire, Aliko Dangote has retained his spot as the richest man in Africa despite losing $10.3 billion of his net worth in 2014, leaving him with $14.4 billion.

The fortune drop was attributed to the weakened Naira and a drop in the demand for cement.

Asides Dangote, four other Nigerians made it to the list of billionaires: Mike Adenuga, Folorunsho Alakija, Femi Otedola, and Abdulsamad Rabiu with two – Orji Uzor Kalu and Tony Elumelu – dropping out.

While Dangote was the biggest loser, Warrent Buffett of USA was the biggest gainer, amassing $14.5 billion to reach a net worth of $72.7 billion.

The top three richest men are: Bill Gates, who added $3.2 billion to reach $79.2 billion, Mexico’s Carlos Slim Helu and Warren Buffett.

Forbes also announced Even Spiegel, co-founder of photo-messaging app, Snapchat, as the world’s youngest billionaire, at 24.

 

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