How Aliko Dangote Made N15.6 billion In One Day
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.
According to reports, while some of the world’s richest people that include Bill Gates, Warren Buffett and Mark Zuckerberg lost a sum of $182bn (N35.85tn) over the past week, Dangote remained happy in the global market rout.
The world’s 400 richest people lost heavy sums last week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging.
‘For them, that’s a fractional percentage, even though $182bn is a big number. A week like this feels really bad, but when you take a step back, in a big picture view it’s not a disaster by any means,’ said John Collins, director of investment advisory at Aspiriant, which oversees more than $8bn for high net-worth clients.
Eleven billionaires added to their fortunes, in spite of the market turmoil. The week’s biggest dollar gainer was Sun Pharmaceuticals’ Dilip Shanghvi. The world’s 39th-richest person became $467m wealthier, elevating his net worth to $18.9bn.
The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net-worth figure is updated every business day at 5:30 p.m. in New York and listed in US dollars.