Billionaire Nigerian businessman, Aliko Dangote, has fallen from being the 51st richest person in the world to the 105th, according to the 2017 Forbes Rich List.
Forbes magazine reports that Mr Dangote’s wealth dropped from $15.4bn (£11.8bn) in 2016 to $12.2bn this year, due to Nigeria’s currency being devalued cum economic recession.
The businessman was ranked 37th richest man in the world in 2014 with a net worth of $25 billion.
Mr Dangote, who made his fortune in the production of cement, sugar and flour, made international headlines in 2016 when he said he wanted to buy Arsenal Football Club within the next four years.
In a related development, last week, Amazon CEO Jeff Bezos briefly overtook Bill Gates as the world’s richest man on Forbes’ real-time ranking, but later dropped back to second place.