Africa’s richest man, Aliko Dangote, on Monday, lost N141 billion

following
intense pressure of global markets as a
result of ripples from the Chinese
economic crisis.
He joins a long list of billionaires whose
fortunes have tumbled over the past few
days.
According to Bloomberg Billionaires Index,
Dangote lost $708.6 million (N140 billion)
as Chinese stocks sank lower after a rout
on August 24 that the official state news
agency, Xinhua, dubbed ‘Black Monday.’
Dangote gained $79.2m (N15.6bn) gain
fromThursday to Friday last week, only to
lose the same amount about nine times
over.
The 58-year-old was just one of 197
billionaires who lost billions of dollars in
24 hours, with only three of the world’s
top 200 billionaires making gain on ‘Black
Monday.’
Wang Jianlin, Asia’s richest man, and Bill
Gates, the world’s richest man, lost $3.6
billion and $3.2 billion respectively as the
worst-hit billionaires on Monday.
Mark Zuckerberg, Facebook founder, lost
$1.7 billion, placing him behind Warren
Buffet, world number three billion, who
lost $2 billion.
The only three gainers were Alwaleed al-
Saud, a Saudi business magnate; Tadashi
Yanai, founder of Japanese Fast Retailing;
and Petr Kellner, a Czech businessman.
They gained $169 million, $105.5 million
and and 87.3 million respectively.