Nigerian billionaire Aliko Dangote’s fortune has fallen by 35 percent this year — representing a loss of $5.4 billion — on the back of a commodities slump and a devaluation of the naira in June according to Bloomberg.

The cement mogul’s net worth is $9.9 billion, a 62 percent drop since January 2014, according to the Bloomberg Billionaires Index.

Africa’s second-wealthiest person, South African Christo Wiese, trails Dangote by $2.8 billion with his fortune climbing 12 percent this year on the index.