Aliko Dangote Loses $549 Million Overnight

Aliko Dangote Loses $549 Million Overnight

Africa’s richest man, Aliko Dangote, has seen a sharp dip in his fortune after Dangote Cement, the crown jewel of his business empire, took a heavy hit on the Nigerian Exchange.  The billionaire industrialist lost an estimated $549 million in a single day, as the value of his cement holdings tumbled by nearly 10 percent. … The post Aliko Dangote Loses $549 Million Overnight appeared first on Business Elites Africa.

Aliko Dangote loses $549 million as cement shares fall

Key PointsAliko Dangote’s net worth dropped $549 million in a single day, falling from $29.3 billion to $28.7 billion, following a steep sell-off in Dangote Cement shares.Dangote Cement shares fell 9.88 percent as investors sold nearly 2.6 million shares valued at $0.88 million, reducing his stake from $5.4 billion to $4.96 billion.Dangote’s private assets remain stable, including $18.6 billion in his refinery, $3.02 billion in Dangote Fertilize…

Dangote Cement Leads 39 Losers As NGX Ends In Red » News.ng

Trading activities on the Nigerian Exchange (NGX) closed negatively on Tuesday as Dangote Cement, alongside 38 other stocks, recorded losses. The All-Share Index (ASI) dropped by 1.46%, settling at 142,613.47 points compared to the previous 144,722.47 points. Similarly, market capitalisation fell by 1.46%, closing at N90.227 trillion from N91.561 trillion, translating to a loss of about N296 billion. A total of 1 billion units of shares worth N1…