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Africa’s Richest Person Drops $3.7 Billion on Plunging Naira

  • The world’s 400 richest people add $44 billion as markets rise
  • Europe’s richest person jumps most with $2 billion gain
Aliko Dangote.

Aliko Dangote.

Photographer: Jason Alden/Bloomberg

Nigerian billionaire Aliko Dangote, Africa’s richest person, fell 25 places on the Bloomberg Billionaires Index on Monday as the naira tumbled on its first day of trading without a peg to the U.S. dollar.

Dangote’s fortune fell $3.7 billion, knocking him to No. 71 on the Bloomberg ranking, down from No. 46 on Friday. The majority of Dangote’s $12.7 billion fortune is derived from a 91 percent stake in Dangote Cement Plc, which shed 2 percent in trading Monday.