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

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

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Aliko Dangote
Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008. (Photo Credit: REUTERS/Mike Hutchings)

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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