Business

Elon Musk loses almost double of Aliko Dangote’s wealth

Published

2 years ago

January 28, 2022

World richest person, Elon Musk, lost the total wealth of Aliko Dangote and more on Thursday, as his fortune dwindled by 10.7 percent after trading hours in the United States.

Musk, who is the founder of car manufacturer, Tesla and satellite company, SpaceX, saw his wealth decline following a dip in Tesla’s share value yesterday, which fell by 11.17 percent to end trading at $829.10, against its opening of $933.36.

This dip caused Musk to lose $24.5 billion from his wealth, according to Forbes Billionaire Index, which now estimated the tech boss’ fortune to be $218.3 billion as of Thursday.

He, however, retained his position on the wealthiest persons ranking, sitting comfortably above Bernard Arnault & family, owner of LVMH, whose fortune was put at $193.6 billion, making him the second richest.

Musk’s $24.5 billion is almost double of what Forbes estimated Dangote to be worth, after the African richest man also lost substantial amount to the tune of $856 million from his wealth.

This dragged the cement boss fortune down by 5.92 percent, days after he was reported as the richest man on the continent. His total worth was estimated around $13.6 billion, as at the last ranking.

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