Dangote Drops Off List Of 100 Richest People In The World.

Following the crash of the naira, Aliko Dangote, president of Dangote group, has dropped off the list of the 100 richest people in the world.

Dangote was the 51st richest man in the world as at March 2016, but he had dropped to 101 as at the start of business on Monday.

Dangote, who owns the second largest sugar-refinery in the world, remains richer than Donald Trump, American billionaire presidential candidate, and Oprah Winfrey, US TV personality, who dubs as the second richest black woman in the world.
Dangote is now worth $11.1 billion, while Trump and Oprah are estimated at $4.5 billion and $3.1 billion, respectively.

The fall in the naira, as against the dollar, from about 198 to about 300, has eroded about a quarter of Dangote’s wealth, as he commits to investing heavily in Africa’s largest economy, Nigeria.

At the launch of the new foreign exchange regime on June 23, 2016, Dangote fell from 46 on the world billionaire list to 71, and has continued in that manner with the naira plunge.

According to Bloomberg billionaires, Dangote, who was worth $15.4 billion (N3.05 trillion) in March, is now worth $11.1 billion (N3.3 trillion) —richer in naira, but poorer in dollars.

The launch of Dangote refinery, the biggest greenfield refinery in the world, billed for 2018/2019 is expected to propel him into top 20 by 2019.

Dangote Cement, one of Dangote’s major investments in Nigeria, is the biggest company on the Nigerian Stock Exchange, by market capitalisation, and the biggest cement producer in sub-saharan Africa.

The company however missed out of the 100 biggest companies in the world, according to Fortune 500.

Naira Land

Comments

The Clumsy Wife

When you were asked about your swollen right eye, you said you sleepwalked and hit your face against the wall. We all said sorry and asked you to get well soon. A few days after, it was your chin that was shifted to the side. In response, you blamed it again in your clumsiness and that you feel off the bed. You are a grown woman in her late 30's. This time, we had questions that we couldn't dare to ask you. Weeks later, you were limping and you assured us that it was your clumsiness that made you fall down the stairs. At this point, we faced our business and wished you all the best. 2 months later, you're lying in a golden casket, 6 feet under the ground. The autopsy read that you died from a deep gash on your forehead, probably a hit from the bloody plank of wood that was found beside your corpse. At this point, you want to talk. You wanted to say it all. But it's too late. Your husband claimed you hit your head on the plank, and we all believed him because you told u

She Must Be Obeyed Movie Review

I don't understand Funke Akindele's obsession with the music industry Sha. She is always trying to project the industry one way or the other - we have Industreet already. On this new one Sha, I don't know how to feel about it. This storyline is great. The life of a Celebrity musician behind the camera and in front of the camera. But the directing get as e be. The movie just dey anyhow. But the acting from some cast made up for the 'anyhowness'. Bishop (Okon) was amazing. Lateef was great. Gayness doesn't fit Akah. He shouldn't try it again. Vee tried small. I don't understand what Ali Nuhu was acting. Lizzy Jay sef dey vex person. The entire Rachael Okonkwo family weren't it at all. Mama Gee no try at all. Don't give her a drunk role again. Nancy Isime was Nancy Isime, Just there. Shaffy Bello was great as always. In all, I will give it a 4/10.

Big Love Movie Review

While this movie tried not to be your regular Nollywood Romantic movie, I still got annoyed at some small small mistakes that I saw. Inkblot is too big for some mistakes that were present in this movie. Overall, Big Love is nice. It's a movie that would take you through a rollercoaster of emotions. The beginning was quite not it. Most of the dialogues got me rolling my eyes, like warahell. Casting was great. Storyline was amazing Directing wasn't coordinated. There were scenes that looked rushed and scattered. PS - VJ Adams should just leave Bimbo for Timini. Their chemistry is mind-blowing. Timini had grown as an actor. And it's great to see. Aunty Shaffy is great, as always. Overall, I'd give it an 8/10.

Aderonke Adeyeye's Blog

Search This Blog