The president of Dangote Industries Limited, Aliko Dangote, saw his net worth fall by $900 million on Friday, while his company Dangote Cement Plc suffered a strong retraction on the Nigerian Stock Exchange on Friday, January 8.
The share price of Dangote Cement Plc, the country's largest listed company and Africa's largest cement producer, fell 8.13% to close at 225 naira on Friday from 244.90 naira on Thursday. However, the recent announcement by the company's managers of an expansion program in Africa did not help avoid this fall.
According to Bloomberg, the majority of Dangote's fortune comes from his 86% stake in Dangote Cement, which is listed on the stock exchange. He owns the company's shares directly and through his conglomerate, Dangote Industries.”
The fortune of the richest man in Africa rose from 18.4 billion dollars on Thursday to 17.5 billion dollars on Friday, making him the 114th richest man in the world, up from 106th the day before. However, despite this turbulent stock market day, Dangote remains the only Nigerian in the world