Aliko Dangote, Africa's richest man, has quickly rebounded from last week's severe paper loss, bringing his worth back to $36.5 billion on the Bloomberg Billionaires Index as Nigerian shares steadied.
According to the most recent Bloomberg rankings, Dangote's fortune is now $36.5 billion, up $5.40 million from his previous value and a remarkable $6.55 billion year-to-date gain.
The comeback comes only about a week after the billionaire had one of the greatest single-day drops in his net worth this year.
Last week, a broad selloff on the Nigerian Exchange Group resulted in huge losses in some of the country's top industrial firms, wiping out about $1.2 billion from Dangote’s wealth in a single trading session.
Bloomberg’s index showed at the time that Dangote's net worth had decreased from $35.5 billion to $34.3 billion, owing mostly to a 10% drop in the share price of Dangote Cement Plc, the maximum daily loss permitted on the Nigerian stock market.
