2016, A Memorable Year for Mike Adenuga as his Net Worth increased by $2.7 Billion while Dangote’s decreased by $5 Billion.
According to the American business magazine Forbes, the billionaire telecom tycoon, Mike Adenuga got richer in 2016 as his networth increased from $2.7billion to $5.8billion since December 31st 2015.No other African Billionaire added more than a Billion dollar to his or her networth in the past year.
Meanwhile, Aliko Dangote, who is still African richest man has lost more than half of his networth in 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.)”