Nigeria’s richest man, Aliko Dangote, has earned close to $600 million in one day following the surging demand for stocks of Dangote Cement on the floor of the Nigerian Stock Exchange.
Forbes reports that the billionaire businessman recorded the feat on Monday, July 10, 2023, following the bullish demand for Dangote Cement stocks.
Dangote Cement shares surges
Dangote’s net worth now stands at 10.5 billion on the Forbes list, representing a 5.8% increase in wealth in the last 24 hours.
Dangote Cement surged in price following the company’s announcement of a share buyback.
The company’s share buyback program involves the purchase of up to 168,735,593 fully paid-up ordinary shares, representing 1% of the currently issued shares.
The shares of the cement company opened trading at N330.1 per share.
Adenuga’s wealth declines
Meanwhile, one of Nigeria’s wealthiest men, Mike Adenuga, has seen his fortune plummet to $3.6 billion.
The Chairman of Conoil and Globacom CEO has experienced a significant decline in net worth due mainly to the unification of Nigeria’s currency.
According to reports, the Glo boss’ wealth declined from the initial $6.3 billion recorded in January.
Leave a Comment