Popular American business magazine, Forbes has released its annual list of African billionaires and once more Aliko Dangote tops the list for the eighth consecutive year.
However, the cement mogul may be stripped off his position due to a drop in his estimated net worth.
In 2018, Dangote was worth $14.1 billion setting him far above other billionaires, who made the list.
But his estimated net worth recorded $10.3 billion, nearly $2 billion less than his previous net worth.
According to Forbes, the drop in Dangote’s net worth is primarily due to roughly 20% drop in the stock price of Dangote Cement, his most valuable asset.
Will Dangote’s net worth move up this year or keep dropping as Mike Adenuga, Telecoms and oil mogul almost doubled his worth from $5.3 billion to $9.2 billion in 2018.
Adenuga is another African billionaire second only to Aliko Dangote. His impressive latest net worth has set social media abuzz with questions like:
Can he strip Dangote off Africa’s richest man position?