Africa’s richest man, Aliko Dangote lost $549 million after Dangote Cement’s share price declined, leading to a massive selloff by shareholders.
This comes just two weeks after excitement grew that Africa might soon have its first $30-billion man after the billionaire’s net worth briefly hit the $29 billion mark. Forbes real-time figures show the billionaire has lost $25m so far on Thursday alone as Dangote Cement and Dangote Sugar stock continue to struggle.
On August 19, 2025, Dangote Cement closed at N520.00 per share, marking a 10% drop from its previous closing price of N577.00, which contributed to a market capitalization reduction of approximately 0.96 trillion NGN. This single-day plunge translated into an estimated $549 million loss for Dangote, given his 86% stake in the company.
