Africa’s richest man, Alhaji Aliko Dangote’s fortune has fallen by 35% this year, on the back of a commodities slump and a devaluation of the Nigerian currency.
Bloomberg reported in June that Dangote lost $37 billion.
The 35% loss is equivalent to $5.4 billion His current net worth is $9.9 billion, a 62 percent drop since January 2014.
Nigeria’s economy officially slid into a state of recession for the first time in over two decades, on Wednesday according to the Nigerian Bureau of Statistics (NBS) report.
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