Nigeria’s Aliko Dangote, who is Africa’s richest man for the eighth consecutive time, is now poorer by $2 billion.
Naija News reports that the business tycon’s fortune dropped by $2 billion from $12.2 billion in January 2018 to $10 billion in 2019 according to Forbes’ 2019 Africa Billionaires List released on Wednesday, January 9.
On the other hand, the chief executive officer of Globacom, Mike Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man.
According to Forbes, Adenuga’s net worth dramatically increased from $5.3 billion to $9.2 billion because the Globacom CEO provided more detailed information about his assets.
Similarly, the chief executive officer of BUA Group, Abdulsamad Rabiu, featured on the list for the first time since 2015.
Rabiu’s Kalambaina Cement firm merged with Cement Company of Northern Nigeria, which he controlled, in December 2018. He now owns 97% of the entity.
Kalambaina, which operates a new cement production facility, started selling cement in mid-2018. Separately, Rabiu’s OBU Cement recently expanded its operations, adding a new production line.
In the same vein, Nigeria’s richest woman, Folorunsho Alakija, whose net worth dropped to $1.1 billion from $1.3 billion, was ranked 19th. The rank was a tie with South African banker, Michiel Le Roux.
Speaking on the reduced net worth of the personalities, Forbes said “buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.
“Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”
Meanwhile, a per country ranking, Egypt and South Africa are tied with five billionaires, Nigeria followed with four and Morocco with two.
The American magazine also found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.
|Rank||Name||Net Worth||Age||Origin of Wealth|
|#1||Aliko Dangote||$10.3 B||61||cement, sugar, flour|
|#2||Mike Adenuga||$9.2 B||65||telecom, oil|
|#3||Nicky Oppenheimer||$7.3 B||73||diamonds|
|#4||Nassef Sawiris||$6.3 B||57||construction, chemicals|
|#5||Johann Rupert||$5.3 B||68||luxury goods|
|#6||Issad Rebrab||$3.7 B||75||food|
|#7||Naguib Sawiris||$2.9 B||64||telecom|
|#8||Koos Bekker||$2.3 B||66||media, investments|
|#8||Isabel dos Santos||$2.3 B||45||investments|
|#8||Mohamed Mansour||$2.3 B||70||diversified|
|#8||Strive Masiyiwa||$2.3 B||57||telecom|
|#8||Patrice Motsepe||$2.3 B||56||mining|
|#13||Aziz Akhannouch||$2.1 B||58||petroleum, diversified|
|#14||Mohammed Dewji||$1.9 B||43||diversified|
|#15||Othman Benjelloun||$1.7 B||86||banking, insurance|
|#16||Abdulsamad Rabiu||$1.6 B||58||cement, sugar|
|#17||Yasseen Mansour||$1.5 B||57||diversified|
|#18||Youssef Mansour||$1.2 B||73||diversified|
|#19||Folorunsho Alakija||$1.1 B||68||oil|
|#19||Michiel Le Roux||$1.1 B||69||banking|