What Recession? Mike Adenuga’s Net worth Doubles

According to Forbes Magazine, Nigerian billionaire, Mike Adenuga’s net worth increased $2.7 billion to $5.8 billion since December 31, 2015 over double his net worth at the end of last year.

Forbes reports that while Adenuga’s net worth has increased since the beginning of 2016, it has dropped significantly since March 2016 when his worth was value at $10 billion.

Mike Adenuga’s worth reportedly reduced due to the devaluation of the naira and reduction in the price of oil.

Adenuga was the only Nigerian billionaire whose net worth increased this year.

Africa’s richest man, Aliko Dangote’s fortune dropped by 32% to $12.4 billion while Femi Otedola fell off the list.

Overall, the combined net worths of African billionaires decreased $3.1 billion in 2016.