Africa’s richest man sees $163 million wiped from wealth on cement slump
Africa’s richest man Aliko Dangote loses $163 million on cement slump, trimming fortune to $28.8 billion.
Skip to content
Africa’s richest man Aliko Dangote loses $163 million on cement slump, trimming fortune to $28.8 billion.
Dangote nears $29 billion net worth with refinery listing plans and strong gains in cement, sugar, and energy.
Dangote's move is seen as part of a broader leadership transition.
This infrastructure will enhance logistics for Dangote’s fertilizer and oil refinery operations, including planned exports of liquefied natural gas (LNG).
A 90,000-metric-ton cargo of gasoline is scheduled to leave the refinery for Asia, marking the first time fuel from the Lagos-based facility will be sold outside the region.
The 2020 Bombardier Global 7500 stands as the epitome of modern business aviation, known for its outstanding range, sleek design, and unrivaled comfort.
Aliko Dangote is selling his 2020 Bombardier Global 7500, a high-end private jet with 1,527 flight hours and 487 landings.
“I will be here very soon,” Dangote said, addressing fellow billionaire Femi Otedola. “And I want to congratulate you on this groundbreaking ceremony.”
A surge in the market value of his stake in Dangote Cement, Africa’s largest cement maker, has added $800 million to his wealth in just three day.
With this latest boost, his year-to-date loss has narrowed to $461 million.
The refinery last month announced plans to construct eight new crude storage tanks to secure a stable supply of imported oil.
British oil giant BP, Swiss-based Vitol, and Singapore’s Trafigura lead sales from the Dangote Oil Refinery as Africa’s largest oil plant reshapes market.