Dangote How billionaire's fortune rose with N15.6bn in one day

Aliko's gain caused a stir as he alongside 10 other billionaires from around the world made money amid deepening global market rout while a large number of world richest people lost heavy sums.

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Aliko Dangote

(Times)
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Aliko Dangote opens cement factory in Zambia

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Nigerian billionaire, Aliko Dangote caused a stir in the world global market after he posted a staggering $79.2m (N15.6bn) gain from Thursday August, 20, 2015 to Friday, August 21, 2015.

Read: Dangote refinery gets $1b grant from US Agency

Aliko's gain caused a stir as he alongside 10 other billionaires from around the world made money amid deepening global market rout while a large number of world richest people lost heavy sums.

According to reports, while some of the world’s richest people that include Bill Gates, Warren Buffett and Mark Zuckerberg lost a sum of $182bn (N35.85tn) over the past week, Dangote remained happy in the global market rout.

In a report by Bloomberg’s Billionaires Index, Dangote was one of six billionaires who saw their fortunes increase in 24 hours to Friday.

The world’s 400 richest people lost  heavy sums last week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging.

'For them, that’s a fractional percentage, even though $182bn is a big number. A week like this feels really bad, but when you take a step back, in a big picture view it’s not a disaster by any means,' said John Collins, director of investment advisory at Aspiriant, which oversees more than $8bn for high net-worth clients.

Eleven billionaires added to their fortunes, in spite of the market turmoil. The week’s biggest dollar gainer was Sun Pharmaceuticals’ Dilip Shanghvi. The world’s 39th-richest person became $467m wealthier, elevating his net worth to $18.9bn.

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.

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