His company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange.
Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4bn on Thursday to $17.5bn on Friday, making him the 114th wealthiest man in the world, down from 106th the previous day.
Dangote’s net worth had risen from $15.5bn on December 13 to close the year 2020 at $17.8bn.
Further gained $600m in the first seven days of 2021, but lost all of it and more last Friday.
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