Billionaire Nigerian oil and telecom tycoon, Mike Adenuga,
got richer in 2016. According to Forbes Magazine, his net
worth increased $2.7 billion to $5.8 billion since December
31, 2015 and no other African billionaire added more than $1
billion to his or her net worth in the past year.
Meanwhile, Aliko Dangote, who is still the richest man in
Africa has lost more than half his networth of 2014. He was
worth $25billion in 2014 but worth $12.4 billion by the end of
2016...
According to Forbes
While Aliko Dangote is still Africa’s richest man by
far, he’s not as rich as he used to be. In February
2014, his fortune hit an all-time high of $25 billion.
Today, he’s just worth half of that. FORBES estimates
that he is currently , down from $17.2 billion this time
last year on the back of a Central Bank devaluation of
the Naira, Nigeria’s currency, in June. Having shed
$4.8 billion off his fortune within the last 12 months,
Dangote is Africa’s biggest billionaire loser in dollar
terms in 2016
On Mike Adenuga
"The increase in Adenuga’s net worth is largely due to
new information Forbes obtained in 2016 about the
value of his assets. Adenuga owns Nigerian telecom
company Globacom and Nigerian oil company Conoil
Producing. While Adenuga's net worth has increased
since the beginning of 2016, it has dropped
significantly since March 2016, when FORBES valued
his fortune at $10 billion on the 2016 Billionaires List.
Since then, his net worth has dropped $4.2 billion,
due to the devaluation of the Nigerian Naira and the
country's struggling oil sector. Adenuga was the only
Nigerian billionaires whose net worth increased this
year. (Aliko Dangote, the richest Nigerian and Africa's
richest man, saw his fortune drop nearly 28% to $12.4
billion over the course of 2016.)"
