The continent’s 18 billionaires are worth an average $4.1 billion, 12% more than a year ago, driven in part by Nigeria’s surging stock market. For the tenth year in a row, Aliko Dangote of Nigeria is the continent’s richest person, worth $12.1 billion, up by $2 billion from last year’s list thanks to a roughly 30% rise in the share price of Dangote Cement, by far his most valuable asset. The second richest is Nassef Sawiris of Egypt, whose largest asset is a nearly 6% stake in sportswear maker Adidas. At number three: Nicky Oppenheimer of South Africa, who inherited a stake in diamond firm DeBeers and ran the company until 2012, when he sold his family’s 40% stake in DeBeers to mining giant AngloAmerican for $5.1 billion. While some got richer by the billions, two from the 2020 list of Africa’s richest dropped below the $1 billion mark. In fact, the only two women billionaires from Africa have both fallen off the list. Forbes calculates that the fortune of Folorunsho Alakija of Nigeria, who owns an oil exploration company, dropped below $1 billion due to lower oil prices. And Isabel dos Santos, who since 2013 has been the richest woman in Africa, was knocked from her perch by a series of court decisions freezing her assets in both Angola and Portugal.
SOURCE: FORBES AFRICA
More Stories
Best Style Moments of Tems
To the World
From ‘The Woman King’ to Netflix’s ‘African Queens’ – How Africa’s History Went Pop
Who is Pretty Yende, the Soprano Performing at King Charles III’s Coronation?
Discover Dakar: From African Art to Rooftop Hangouts and Culinary Gems
Graffiti Now Covers the Walls of Libya’s Ancient City, a UNESCO World Heritage Site
When to Visit Malawi
The Beauty about Exploring Africa is that the Continent has a Lot to Offer
Ugandan Kids get Introduced to Irish Dancing Via Online Lessons
Get a Symmetrical Trim at this Kenyan Barber
Standard Bank Hosts Central Bankers to Demonstrate Africa’s Potential to Learn – and Lead
Ghana’s Debt Crisis is Affecting Companies Beyond its Borders