Africa’s Richest Man: Dangote Lost $5bn In 1 Year – Forbes

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Forbes Magazine has released the 2015 list of Africa’s 50 Richest People and ’s still remains on top of the log – for the fifth year in a row.

However, the Chairman of , who is valued at $16.7 billion, has had his lead cut down by nearly $5 billion dollars (N1 trillion), the amount he reportedly lost during the period under review, according to Forbes.

The drop is attributable to decline in the stock price of and a weaker naira, Forbes says.

The list has also been reduced from 28 last year to 23, as a result of what Forbes called “lower prices for oil and other commodities” in Africa.

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South African Nicky Oppenheimer moves into the second spot from fourth the previous year with a $6.6 billion fortune the bulk of which is from diamond mining and marketing.

There are 10 Nigerians on the list of 50 released by Forbes, with only South Africa having more representation (13).

The second Nigerian on the list is Chairman of Globacom, , whose wealth is estimated at $3.5 billion. Adenuga is ranked 7th richest man in Africa.

, , is the third Nigerian on the list. She is the richest Nigerian woman and the 13th richest African over-all, with an estimated fortune of $1.7 billion dollars.

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