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.
Dangote is Africa’s richest man, with a net worth of $15.4bn, according to the Index.
The other three Africans on the Index are South Africans: Nicky Oppenheimer formerly of the De Beers diamond company (net worth $6.7bn) suffered a $27.9m loss between Thursday and Friday; luxury goods magnate Johann Rupert (net worth $7bn) saw his money shrink by $87m, and retailing baron Christo Wiese (net worth $7bn), lost $220m over the same period.
The weekly drop for the Bloomberg Billionaires Index, a group that includes Warren Buffett, Bill Gates and Mark Zuckerberg, was the biggest since tracking of the expanded list began in September 2014.
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.