Home NaijaGist Dangote Leads Forbes’ Africa Billionaires List despite losing $2bn

Dangote Leads Forbes’ Africa Billionaires List despite losing $2bn

Nigeria’s business tycoon, Aliko Dangote is Forbes’ Africa’s richest person for 2019 – for the eight year in a row – with an estimated net worth of $10.3 billion, which is roughly $2 billion less than his estimated net worth a year ago.

According to Forbes’ Africa Billionaires List, which was released on Wednesday, January 9 2019, Dangote’s drop was attributed to a estimated 20% drop in the stock price of Dangote Cement between January 2018 to January 4, 2019, which happens to be his most valuable asset.

Clinching the second spot was Mike Adenuga, chief executive officer of Globacom, whose net worth dramatically rose from $5.3 billion to $9.2 billion because he provided more detailed information about his assets.

The number three position in Africa was secured by diamond heir, Nicky Oppenheimer of South Africa. His grandfather founded diamond mining firm DeBeers, which Nicky ran and later sold to mining giant, Anglo American for $5.1 billion in 2012. Presently, he is worth an estimated $7.3 billion, down from $7.7 billion a year ago.

Another Nigerian cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, returned to the Forbes’ list at number 16, for the first time since the year 2015. Rabiu integrated his Kalambaina Cement firm into publicly traded Cement Company of Northern Nigeria, which he controlled in late 2018.

Looking at the ranking per country, Egypt and South Africa are strapped with five billionaires each, closely followed by Nigeria with four billionaires and Morocco with just two.

One billionaire each emerged from Angola, Tanzania, Algeria and Zimbabwe.

See the top 20 billionaires in Africa according to Forbes:

Aliko Dangote – $10.3 Billion
Mike Adenuga – $9.2 Billion
Nicky Oppenheimer – $7.3 Billion
Nassef Sawiris – $6.3 Billion
Johann Rupert – $5.3 Billion
Issad Rebrab – $3.7 Billion
Naguib Sawiris – $2.9 Billion
Koos Bekker – $2.3 Billion
Isabel dos Santos – $2.3 Billion
Mohamed Mansour – $2.3 Billion
Strive Masiyiwa – $2.3 Billion
Patrice Motsepe – $2.3 Billion
Aziz Akhannouch – $2.1 Billion
Mohammed Dewji – $1.9 Billion
Othman Benjelloun – $1.7 Billion
Abdulsamad Rabiu – $1.6 Billion
Yasseen Mansour – $1.5 Billion
Youssef Mansour – $1.2 Billion
Folorunsho Alakija – $1.1 Billion
Michiel Le Roux – $1.1 Billion

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