Posted 2/5/2024, 6:42:43 AM
Dangote Loses $5B in 24 Hours After Nigeria Devalues Currency, Drops on World's Richest List
- Dangote loses $5B in 24 hours, drops from 81st to 113th on world's richest list
- Wealth declines from $22B to $16.6B after Nigeria devalues naira again
- Dangote had gained $7.1B in January due to Dangote Cement's performance
- Analysts blame crash on new naira devaluation moving rate from 900 to 1500 per dollar
- Dangote suffered similar $6B loss in June 2023 during previous currency reforms
