Dangote, Adenuga Make List As World Billionaires Lost Over $1.4 Trillion in Dramatic 2022

Dangote, Adenuga Make List As World Billionaires Lost Over $1.4 Trillion in Dramatic 2022

  • The end of 2022 can not come fast enough for many billionaires across the world including US, and Chineses
  • According to a new report, a whopping $1.4 trillion was whipped out from the fortune of the richest men in the world
  • Nigerian billionaires Aliko Dangote and Adenuga were not left out as they also saw their wealth drop in the 12 months of 2022

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The world's richest men according to Bloomberg saw a dramatic decline in their wealth in 2022.

It noted that most of the losses were from the fortune during the COVID era of easy money.

The likes of Elon Musk, Jeff Bezos, Changpeng Zhao, and Mark Zuckerberg lost a combined total of nearly $392 billion.

World billionaires including Dangote lost big
Aliko Dangote's wealth drops in 2022, but he remains untouchable in Africa's rich list Credit: @bloomberg
Source: Getty Images

Elon Musk lost $25.8 billion on January 27 after Tesla Inc. issued a supply-chain alert. It is the fourth-largest one-day dip in the Bloomberg Wealth Index’s history.

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How much Russia billionaires lost

The wealthiest individuals in Russia lost $46.6 billion as a group on February 24, the day of the invasion of Ukraine.

As soon as sanctions were put in place on Russian “oligarchs” and their businesses by the European Union, Britain, and the United States, it became nearly difficult for corporate tycoons to maintain control over their assets in the West.

How much Chinese billionaires lost

The wealth of China’s wealthiest individuals lost $64.6 billion on March 14, as the markets there continue to deteriorate.

Strenuous efforts to stop COVID’s spread, a weak real estate market and more attention to the technology sector have cost them another $164 billion in 2022.

How much Nigerian billionaires lost

Aliko Dangote is the only Nigerian whose name appears in the Bloomberg billionaire index.

The index shows that as of Friday, 30 December 2022 Dangote is worth $18.7 billion this $421 million (N188.43 billion) lower than how he started the year.

However, Forbes is reporting that Dangote is worth $12.5 billion as at Friday, 30 December 2022 compared to $12.7 billion it started the year.

This means that according to Forbes, Dangote has only lost $2 million of his wealth in 2022.

Forbes also reports that Mike Adenuga's wealth drop is the biggest among the three richest men in Nigeria and has dropped behind Abdul Samad Rabiu.

Adenuga at the start of 2022 was worth $6.6 billion, his present wealth stands at $5.6 billion. A difference of 1 billion dollars.

On the other hand, Abdul Samad Rabiu's wealth has jumped massively by $3.4 billion in the 12 months of 2022.

Forbes reports that Rabiu is currently worth $7.8 billion up from $4.4 billion it started the year.

Elon Musk loses world’s richest man title to French billionaire as worth drops by N1.6tn in hours

Meanwhile, in another report Legit.ng revealed that Elon Musk, Twitter and Tesla CEO, briefly lost his title as the world's richest person today, according to the Forbes list that tracks the wealth of the world's billionaires in real-time.

With US tech stocks sliding as interest rates and recession fears rise, Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family briefly took the title as the world's richest.

However, by 5.30 p.m on Wednesday, 7 December 2022, Musk was back on top, but with a $3.8 billion (N1.6 trillion) loss, the most for the day among listed billionaires, Reuters reports.

Source: Legit.ng

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