Posted 2/25/2024, 3:47:23 PM
Dangote Loses $3B in February as Naira Devaluation Erodes Wealth, Dropping Ranking from 82nd to 132nd Richest
- Aliko Dangote lost $3 billion in February due to Nigerian naira devaluation, dropping his net worth to $14.8 billion
- Dangote has lost over $7 billion total since January as the naira rapidly lost value
- Dangote was ranked 82nd richest in January, but has fallen to 132nd after naira devaluation
- Despite Dangote Cement's strong performance, Dangote could not recover his wealth losses
- Femi Otedola acquired shares of Dangote Cement, citing its profit potential and ESG compliance