Economy
Naira Fall! Aliko Dangote Drops Out Of List Of 100 Richest People In The World
Due to the crazy free fall of the naira, Africa’s richest man,Aliko Dangote,has dropped off the list of the 100 richest people in the world.
Dangote who was listed as the 51st richest man in the world as at March 2016, had dropped to 101 as at the start of business on Monday.
At the launch of the new foreign exchange regime on June 23, 2016, Dangote fell from 46 on the world billionaire list to 71.
Bloomberg billionaires revealed that Dangote, who was worth $15.4 billion (N3.05 trillion) in March, is now worth $11.1 billion (N3.3 trillion) —richer in naira, but poorer in dollars..Dangote, who owns the second largest sugar-refinery in the world, remains richer than Donald Trump, American billionaire presidential candidate, and Oprah Winfrey, who is the second richest black woman in the world.
Dangote is now worth $11.1 billion. However, he is still worth more than American Republican Party presidential candidate, Donald Trump and American media mogul, Oprah Winfrey combined. They both have an estimated worth of $4.5 billion and $3.1 billion respectively.
The cement king is projected to make a comeback to the list by 2018/2019 and even entering into the top 20 when his oil refinery will be completed and will begin operation.
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