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Aliko Dangote, Nigeria’s wealthiest man, has lost his position as Africa’s richest man on the Forbes list.
Dangote had held the top spot for over a decade, but his fortunes plunged by about $3.4 billion in a single day due to Nigeria’s naira devaluation.
This pushed him to the number two spot, with South African billionaire Johann Rupert taking over as Africa’s richest man.
Rupert’s fortunes are estimated to be around $12 billion, while Dangote’s wealth is estimated to be about $16.8 billion by Bloomberg Billionaire’s Index.
Other Nigerian billionaires on the Forbes list also suffered a massive hit due to the naira devaluation.
This article was updated 3 weeks ago
