Forbes magazine reports that Dangote’s wealth dropped from $15.4 billion (£11.8bn) in 2016 to $12.2 billion this year, due to Nigeria’s devalued currency.

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.

Yesterday, Amazon founder Jeff Bezos briefly overtook Bill Gates as the world’s richest man on Forbes’ real-time ranking, but later dropped back to second place.