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How Aliko Dangote Made N15.6 billion In One Day

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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.

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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