Dangote Drops in Billionaire Ranking, Elon Musk, Zuckerberg, Others Rise

Dangote Drops in Billionaire Ranking, Elon Musk, Zuckerberg, Others Rise

  • Aliko Dangote has lost four spots on the billionaire ranking after rising for almost two weeks
  • The African industrialist lost over $8 million on Wednesday, February 1, 2023
  • Other billionaires such as Elon Musk, Mark Zuckerberg, Jeff Bezos and Bill Gates gained massively

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Nigeria and Africa’s richest man, Aliko Dangote’s earnings crashed on Wednesday, February 1, 2023, sending him sliding down on the Bloomberg Billionaire Index.

As of the time of writing, Dangote occupies the 85th position on the list, dropping from the 80th position he occupied for most of January 2023.

Elon Musk, Dangote, billionaires
Tesla CEO, Elon Musk and Aliko Dangote Credit: Bloomberg/Contributor
Source: Getty Images

Dangote Cement shares drop

The Nigerian industrialist lost $8.7 million, about N4 billion, in one day due to investors’ negative sentiment in the shares of his cement company, Dangote Cement.

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The cement company’s share price traded at N266.90 as against N310 it traded for most of January.

Despite the slide in ranking, the President of Dangote Group maintains his position as Africa’s wealthiest man with a net worth of $19 billion.

Tesla CEO, Elon Musk who lost $7 billion on Monday, January 30, 2023, has gained about $6 billion in four days with a net worth of $169 billion, leaving $22 billion between him and the world’s richest man, Bernard Arnault whose net worth is put at $191 billion.

Elon Musk rise

The share price of Tesla, the electric carmaker has consistently gained over 3 per cent in the past four days, sending Musk’s net worth soaring.

Other billionaires who gained include Amazon founder and CEO, Jeff Bezos with a net worth of $129 billion.

Perhaps the biggest recovery of the week is Meta CEO and Facebook founder, Mark Zuckerberg who rose five places on the list to stand at the 21st position.

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Zuckerberg added $1 billion to his net worth after Meta share witnessed positive sentiment for the first time in a long while.

Microsoft founder, Bill Gates who said he wants to drop off the billionaire table by giving away most of his fortunes, is ranked fourth on the list, having gained $1 billion in one day.

Elon Musk’s wealth Surges, makes $11 billion in two days, Dangote suffers loss

Legit.ng reported that Tesla CEO, Elon Musk’s wealth surged by almost $11 billion since he started facing a civil suit over his tweet.

Bloomberg Billionaire Index reports that the SpaceX CEO’s net worth surged by $10.6 billion to stand at $145.2 billion since he began testifying in court on Friday, January 20, 2023.

The latest gain is the largest two-day gain by Musk since November 2022.

Source: Legit.ng

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