The sharp fall in oil prices, the naira devaluation, as well as the decline in the value of equities listed on the Nigerian Stock Exchange (NSE) have taken their toll on Nigeria’s billionaires, as their ranking dropped in the 2015 Forbes’ Billionaires’ list released on Monday [Mar 2].
Although the founder of Dangote Group, Alhaji Aliko Dangote, maintained his position as the richest man in Africa on the list, he tumbled from 25th place to 67th out of 1,826 global billionaires on the list. Dangote was described as “the year’s biggest loser in dollar terms,” by Forbes, as his fortune dropped to $14.7 billion from $25 billion last year, “propelled downward by a weaker Nigerian currency and shrinking demand for cement, his largest asset.”
Also, while Globacom Chairman, Mr. Mike Adenuga, with a total net worth of $4.2 billion fell to 393 on the list, Nigerian oil tycoon, Mrs. Folorunsho Alakija, was ranked 949, with a total net worth of $2 billion. Femi Otedola and Abdulsamad Rabiu were ranked 1,741 with a net worth of $1 billion, respectively.
According to a Forbes report titled: ‘Inside the 2015 Forbes Billionaires List: Facts and Figures’, despite plunging oil prices and a weakened euro, the ranks of the world’s wealthiest defied global economic turmoil and expanded yet again.
Bill Gates was once again the richest person on the planet, a title he has held for 16 of the past 21 years.
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