Just lately, Forbes printed its annual “Africa’s Billionaires” listing, which revealed a combined bag of outcomes. Whereas the variety of African billionaires rose from 18 to 19, their collective wealth took a major hit, shedding $3.4 billion in 2022.
The listing solely consists of businessmen who’re presently residing in Africa, excluding distinguished tycoons who’ve relocated to different nations, equivalent to Mo Ibrahim, Nathan Kirsh, Mohamed Al-Fayed, Mohammed Al-Amoudi, and Tope Awotona, regardless of their substantial world influence
In the course of the 12 months, Africa’s richest people noticed a decline of their wealth in 2022, with a lack of $3.4 billion over the previous 12 months, bringing their web price from $84.9 billion to $81.5 billion as world fairness values dropped.
Though some people skilled progress, the monetary outcomes of others carefully paralleled the fluctuations of the S&P All Africa Index.
In the course of the first three quarters of 2022, the index skilled a major lower of 20 %.
Nonetheless, by the beginning of 2023, the decline had solely moderated to 3 %.
Right here is their current rating on the time of penning this report:
#1 Aliko Dangote
Web price: $13.5 billion
Nationality: Nigerian
For the twelfth 12 months in a row, Nigerian billionaire Aliko Dangote stays the richest man in Africa, with a web price of $13.5 billion derived from his stake in Dangote Cement Plc, Africa’s largest cement producer (Bloomberg values his wealth at $19 billion). In 2022, Dangote’s web price slumped by $400 million attributable to a lower within the share value of his flagship firm, Dangote Cement.
#2 Johann Rupert
Web price: $10.7 billion
Nationality: South African
South Africa’s richest man Johann Rupert ranks because the continent’s second-richest man, with a web price of $11.4 billion (Bloomberg values his wealth at $12.3 billion). The billionaire businessman derives the vast majority of his wealth from his luxurious items holding firm, Richemont.
#3 Nicky Oppenheimer
Web price: $8.4 billion
Nationality: South African
Nicky Oppenheimer, the previous CEO of the famend diamond mining firm DeBeers, has amassed a staggering web price of $8.4 billion, solidifying his place because the third-richest particular person on the continent of Africa and the second-richest in South Africa.
His wealth is primarily derived from a various portfolio of personal fairness investments spanning throughout continents, together with Africa, Asia, Europe, and america, via Stockdale Avenue and Tana Africa Capital, each based mostly in London and Johannesburg, respectively.
#4 Abdul Samad Rabiu
Web price: $7.6 billion
Nationality: Nigerian
Nigerian tycoon Abdul Samad Rabiu made substantial features in 2022, elevating him to the place of the fourth-wealthiest particular person in Africa. This success may be attributed to the profitable public itemizing of BUA Meals Plc, on the Nigerian Change on Jan. 5, 2022, mixed with the spectacular efficiency of his funding in BUA Cement.
#5 Nassef Sawiris
Web price: $7.3 billion
Nationality: Egyptian
Because the wealthiest particular person in Egypt and a member of the nation’s most prosperous household, Nassef Sawiris stands because the fifth-wealthiest man in Africa with an estimated web price of $7.3 billion. The lion’s share of Sawiris’ immense wealth originates from his substantial funding in Dutch fertilizer producer, OCI N.V., and his substantial stake of three.72 % in German sportswear big, Adidas.
#6 Mike Adenuga
Web price: $6.3 billion
Nationality: Nigerian
Nigerian telecom billionaire and oil mogul Mike Adenuga derives the vast majority of his $6.3 billion wealth from his pursuits within the Nigerian telecom firm Globacom Restricted, and within the Nigerian oil business via Conoil Producing and Conpetro Restricted.
He additionally owns 74.4 % of Conoil Plc, a number one petroleum advertising and marketing firm that manufactures and sells lubricants below the “Quarto” model along with founding Globacom, one in every of Nigeria’s largest telecom service suppliers.
#7 Issad Rebrab
Web price: $4.3 billion
Nationality: Algerian
Algeria’s high tycoon, Issad Rebrab, the visionary behind the institution of Cevital Group, the nation’s largest privately held agency, boasts a web price of $4.6 billion, as per the most recent report, albeit a lower from his earlier valuation of $5.1 billion in 2022.
Rebrab’s immense wealth is the results of his curiosity in Cevital Group, a famend conglomerate that’s the proprietor of one of many world’s largest sugar refineries with a yearly capability of manufacturing 2 million metric tonnes of refined sugar.
#8 Naguib Sawiris
Web price: $3.3 billion
Nationality: Egyptian
With a fortune of $3.4 billion, Naguib Sawiris, the elder brother of Egypt’s richest man, Nassef Sawiris, is the second-richest man in Egypt and the tenth-wealthiest man in Africa.
The billionaire amassed his fortune after promoting Orascom Telecom to Russian telecom agency VimpelCom (now Veon) in a multibillion-dollar transaction in 2011.
He’s presently a shareholder in Orascom TMT Investments and Ora Builders, an actual property developer.
#9 Patrice Motsepe
Web price: $3.2 billion
Nationality: South African
With a web price of $2.3 billion, Motsepe is the richest Black South African.
Nearly all of his wealth is derived from his 40-percent stake in African Rainbow Minerals (ARM), a South African diversified mining and minerals firm.
#10 Mohammed Mansour
Web price: $2.9 billion
Nationality: Egyptian
Mohamed Mansour, an Egyptian billionaire businessman, is the chairman of Mansour Group, a household conglomerate price greater than $6 billion, based on Forbes.
Mansour derives the vast majority of his $2.9-billion web price from the corporate, alongside his brothers Yasseen and Youssef Sawiris, who’re additionally billionaires.
#11 Koos Bekker
Web price: $2.6 billion
Nationality: South African
#12 Attempt Masiyiwa
Web price: $1.9 billion
Nationality: Zimbabwean
#13 Aziz Akhannouch
Web price: $1.5 billion
Nationality: Moroccan
#14 Mohammed Dewji
Web price: $1.5 billion
Nationality: Tanzanian
#15 Youssef Mansour
Web price: $1.5 billion
Nationality: Egyptian
#16 Othman Benjelloun
Web price: $1.3 billion
Nationality: Moroccan
#17 Michiel Le Roux
Web price: $1.2 billion
Nationality: South African
#18 Yasseen Mansour
Web price: $1.1 billion
Nationality: Egyptian
#19 Christo Wiese
Web price: $1.1 billion
Nationality: South African
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