Dangote is no longer the richest person in Africa. After the Nigerian government lowered the value of the naira, Aliko Dangote, a well-kno...
Dangote is no longer the richest person in Africa.
After the Nigerian government lowered the value of the naira, Aliko Dangote, a well-known African millionaire, lost $4,120,000,000.
Dangote's loss has put him back in second place on the list of the richest people in Africa. South African investor Johann Rupert has taken his place as the richest person in Africa.
Forbes magazine says that Rupert is now worth $12 million and that Dangote is now worth $10 million.
But it's clear that once Dangote's oil plant in the Lekki neighborhood of Lagos state is up and running, the rich man will replace it with a new one.
False value of the Naira: Experts say that the Nigerian government devaluing the naira is the reason why some Nigerian businesspeople lost money, including Dangote, the owner of BUA Abdul Samad Rabiu, who lost $2,730,000,000, and others.
