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, , and 10 others made money amid deepening global market rout.

Dangote, who is President of , posted a $79.2m (N15.6bn) gain from Thursday to Friday, according to Bloomberg’s . 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 , and Mark Zuckerberg lost a sum of $182bn (N35.85tn) over the past week, Dangote remained happy in the global market rout.

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The world’s 400 richest people lost heavy sums last week from their collective fortunes as weak manufacturing data from 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 , 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 takes measure of the world’s wealthiest people based on market and economic changes and reporting. Each net-worth figure is updated every business day at 5:30 p.m. in and listed in dollars.


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