Aliko Dangote, Africa's richest man and the richest Black individual globally, has experienced a dramatic reduction in his fortune, losing nearly $10 billion in just six months.
According to the Bloomberg Billionaires Index , Dangote's fortune - which surged to a record high of $23.3 billion on Jan. 30, 2024 - has now declined to $13.8 billion.
This downturn, driven by the devaluation of the Nigerian naira and a market pullback on the Nigerian Exchange (NGX), has significantly impacted his financial standing.
Dual financial setbackAliko Dangote's wealth took a hit due to a combination of the naira's devaluation and a recent pullback in the share prices of his publicly listed companies on the NGX.
