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Aliko Dangote’s net worth falls by US$700 million in July – Report

Aliko Dangote is Africa's wealthiest man

Nigerian billionaire and leading industrialist Aliko Dangote has seen his net worth fall by $700 million since the start of July as a result of the double whammy of stock sell-offs on the Nigerian Exchange and the recent naira depreciation on the country’s official foreign exchange window.

According to the Bloomberg Billionaires Index, Dangote, chairman of Dangote Industries Limited, Africa’s most diversified manufacturing conglomerate, is Africa’s wealthiest man and the 71st richest billionaire globally.

Data retrieved by Billionaires.Africa revealed that since the beginning of July, exactly 28 days ago, Dangote’s net worth has declined from $20.5 billion on June 1 to $19.7 billion at the time of drafting this report, thus accruing a loss of $700 million for the leading businessman.

The $700-million loss follows a drop in the market value of his 86-percent stake in Dangote Cement Plc, which is now valued at $9.13 billion and accounts for the majority of his $19.7-billion net worth.

The drop in his wealth since the month began follows a $100-million increase in his net worth in June, which followed a $300-million drop in May, when investors sold down shares in his flagship company Dangote Cement to preserve wealth.

Despite the recent decline in his net worth, Dangote remains one of the few African billionaires who has seen impressive gains in their net worth since the start of the year thanks to the year-to-date increase in Dangote Cement’s share price on the Nigerian Exchange.

So far this year, his net worth has increased by $765 million, rising from $19.1 billion at the start of the year.

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In addition to capital gains, the leading businessman, who recently raised N187.6 billion ($452 million) to fund the completion of his refinery and petrochemical complex, received a total dividend of $725.2 million this year from his publicly traded businesses, which is significantly more than the $639.5 million that he received last year.

Source: billionaires.africa

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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