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.)"
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