[ad_1]
The 15 Nigerian billionaires lost £799.1 billion in the bearish performance of the Nigerian stock market in the third quarter of this year as their total assets fell by 11.9% in the third quarter of 2022.
The total wealth of these billionaires has decreased from N6.74 trillion on June 30, 2022 to N5.94 trillion by the end of September 2022. Investing in companies listed on the Nigerian stock market.
The billionaire’s loss was due to the negative performance of the stock market. The All-Equity Index fell 5.39% in Q3 2022, with nearly every index (except the NGX Growth Index) posting negative returns during this period.
Nigeria’s stock market suffered a massive sell-off following rate hikes by major central banks around the world, including the Central Bank of Nigeria, as the stock market lost about N1.4 trillion in market capitalization.
Rising domestic inflation has also contributed to the recession recorded by the market, forcing investors to reallocate their investment portfolios to hedge against inflation, or at least invest their money in safer assets. I was.
The billionaires included in this list are individuals with significant stakes in the top 30 companies of the Nigerian stock market (NGX 30). It is also worth noting that the aggregate values take into account the direct and indirect holdings of billionaires in these companies.
Aliko Dangote – N441.66 billion
Africa’s richest man and Nigerian business tycoon lost a total of N44.166 billion from his direct and indirect shares in Dangote Cement and Dangote Sugar Mill, along with his indirect investors.
- Aliko Dangote owns 27.64 million units of shares in Dangote Cement directly and 14.62 billion indirectly through his company, Dangote Industries, for a total stake in cement companies of 14.65 billion units (or 85.97% ownership).
- The business mogul also controls 0.05% of Dangote Sugar Refinery through direct ownership of 653.09 million shares and controls 8.12 billion shares of the company through Dangote Industries Limited, totaling 72.25 million shares. You have control over %.
- The loss was a result of the decline in the stock prices of both companies due to the sale. Specifically, Dangote Cement’s share price fell 10.9% to end the quarter at N245 per unit from N275 recorded on June 30, 2022.
- Dangote Sugar’s share price, on the other hand, fell slightly by 1.5% from N16.3 to N16.05 during the review period.
Abdullasamadu Rabiu – N33.682 billion
Abdulsamadu Rabiu, chairman of dual-listed BUA companies (BUA Foods and BUA Cement), lost N336.82 billion from his holdings in the two companies in the third quarter of 2022.
- Rabiu directly owns 19.04 billion shares of BUA Cement and indirectly owns 645.66 million shares, which collectively gives him a controlling interest of 58.15% in the company.
- Similarly, he directly owns 16.17 billion shares in fast-moving consumer goods company BUA Foods, and indirectly holds an additional 548 million shares through BUA Industries Limited.
- BUA Cement’s stock price fell 27.7% during the period under review, losing N391.84 billion. This was mitigated a bit by his 6% profit in BUA Foods, which brought the billionaire his N55.02 billion.
- Rabiu and his indirect investors therefore lost a total of N336.82 billion between July and September 2022.
Jim Ovia – N863 million
Nigerian business mogul Jim Ovia is the founder of Zenith Bank, one of Nigeria’s largest commercial banks. He lost £8.63 billion from direct and indirect stakes in banks as the company’s share price fell 7.8% in Q3 2022.
- According to the bank’s Q2 2022 financial report, Jim O’Bia holds a total of 3.54 billion direct shares in Tier 1 banks, including Institutional Investors Ltd., Rolot Burqa Ltd. It indirectly manages 1.52 billion shares through its Nigerian Corporation. , Veritas Registars Ltd, Quantum Zenith Securities Ltd.
- Bank stocks finished at N20 from N21.7 to the end of September.
Orphemi Otedra – N2.79 billion
Femi Otedola lost a total of N2.79 billion in the third quarter of this year due to bearish movements in FBN Holdings’ share price. Mr. Otedra directly controls 10 million shares and indirectly controls 1.98 billion shares in the holding company, representing a 5.57% controlling interest.
- Indirect holdings of companies controlled by Otedola are made through Calvados Global Services Limited.
- FBN Holdings shares closed the quarter at N10.2 per share, down 12.1% from a recorded N11.6 on 30 June 2022.
Tunde Hassan-Odukale – N2.21 billion
Tunde Odukale, Managing Director and CEO of Leadway Assurance Company, said his stake in FBN Holdings fell by £2.21 billion in the third quarter of this year after the company’s share price fell 12.1% during the review period. confirmed.
- The breakdown of the businessman’s equity holdings in leading financial institutions shows that he owns 27.23 million shares directly and 1.54 billion in Leadway Assurance Company, ZPC/Leadway Assurance Prem & Inv Colla Acct, Haskal Holdings Ltd, Leadway Indicates that it is managed through Capital & Trust, LAC. Investments, Leadway Properties Investment, Leadway Holdings, OHO Investment, Leadway Pensure PFA.
- According to FBN Holdings’ Q2 2022 financial report, he controls a 4.39% stake in the company.
In addition,
- Herbert Wigwe – N1.82 billion (Access Bank)
- Mike Adenuga – N1.38 billion (Conoil, Julius Berger, Sterling Bank)
- Tony Elumelu – N1.07 billion (UBA)
- Gbenga Oyebode – N1.02 billion (Okomu Oil)
- Wole Oshin – N780.5 million (custodian investment)
- Eguasa PA – N262.1 million (Okomu Oil)
- Olakunle Alake – N245.1 million (Dangote Cement and Dangote Sugar Refinery)
- Ifeoma Esiri – N154.4 million (Stanbic IBTC Holdings)
- Ebenezer Onyeagwu – N136.2 million (Zenith Bank)
- Adaora Umeoji – N119.9 million (Zenith Bank)
[ad_2]
Source link