While some of the world’s richest people lost a sum of $182bn (N35.85tn) over the past week, Nigerian billionaire, Alhaji Aliko Dangote, and 10 others made money amid deepening global market rout. Dangote, who is President of Dangote Group, posted a $79.2m (N15.6bn) gain from Thursday to Friday, according to Bloomberg’s Billionaires Index. He was one of six billionaires who saw their fortunes increase in 24 hours to Friday.
The world’s 400 richest people lost $182bn last week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging. Dangote is Africa’s richest man, with a net worth of $15.4bn, according to the Index.
The other three Africans on the Index are South Africans: Nicky Oppenheimer formerly of the De Beers diamond company (net worth $6.7bn) suffered a $27.9m loss between Thursday and Friday; luxury goods magnate Johann Rupert (net worth $7bn) saw his money shrink by $87m, and retailing baron Christo Wiese (net worth $7bn), lost $220m over the same period.