Checkout the 3 Nigerians who made the list of the Forbes African Richest Billionaires "2017 "
published by Forbes has named Nigerian
businessman, Aliko Dangote as the richest man
in Africa.
According to Forbes‘ newest report of the
richest African billionaires in 2017, two
Nigerians have lost their status while three
others made it to the list.
Read the full report below:
The number of billionaires in Africa–and the
size of their fortunes–continues to drop. On this
year’s list, FORBES is only including African
billionaires living in Africa, instead of featuring
Africa’s 50 richest people. There are 21
billionaires on this year’s list, worth a combined
$70 billion. On the November 2015 Africa Rich
List, there were 23 African billionaires worth a
combined $79.8 billion. That in turn was down
from 28 African billionaires in 2014.
Nigerian cement tycoon Aliko Dangote remains
Africa’s richest person for the sixth year running
with a $12.1 billion fortune, despite a nearly $5
billion drop in his net worth for the second year
in a row. Dangote is joined by just two other
Nigerian billionaires on this year’s list — telecom
tycoon Mike Adenuga, who is Africa’s third
richest person with an estimated $5.8 billion
fortune, and oil billionaire Folorunsho Alakija,
who has an estimated net worth of $1.6 billion.
Two Nigerians dropped off the Billionaires List
this year–oil marketer Femi Otedola, whose net
worth dropped from $1.6 billion in November
2015 to just $330 million today, and sugar
billionaire Abdulsamad Rabiu, whose net worth
dropped below $1 billion in the wake of a
weakened Nigerian currency.
South Africa retains its dominance on the Africa
List. While the country is tied with Egypt for the
largest number of individual billionaires, South
Africa’s six billionaires are worth a combined
$22.7 billion — $7 billion more than Egypt’s six
billionaires. The richest South African billionaire
and the continent’s second richest person is
diamond magnate Nicky Oppenheimer, who has
maintained a low profile since selling his
family’s stake in diamond giant DeBeers to
Anglo American for $5.1 billion in cash in 2012.
Luxury goods tycoon Johann Rupert and retail
magnate Christoffel Wiese are tied as South
Africa’s second richest and Africa’s fourth
richest billionaires, each with a $5.5 billion
fortune. Wiese’s fortune has dropped $1 billion
since the November 2015 Africa list, while
Rupert’s net worth is down $800 million.
Egypt’s richest billionaire is Nassef Sawiris,
whose $5.3 billion fortune is up $400 million
since November 2015. Sawiris runs OCI, one of
the world’s largest nitrogen fertilizers. The
country’s next richest person is his brother
Naguib Sawiris, who was Egypt’s biggest gainer
on the list. His net worth increased $700 million
to $3.7 billion. In December 2016, Naguib
Sawiris announced that he would be stepping
down as CEO of his telecom company, Orasom
Telecom Media & Technology.
FORBES counts only two female billionaires in
Africa: Angola’s Isabel dos Santos -Africa’s
richest woman with a $3.2 billion fortune, and
Nigeria’s Alakija. Dos Santos is the daughter of
Angola’s president, who appointed her as head
of Angola’s state oil firm Sonangol in June
2016. Alakija is the vice chair of Nigerian oil
exploration company, Famfa Oil.
At 41, Tanzanian Mohammed Dewji is Africa’s
youngest billionaire, well below the average age
of 63. He is CEO of conglomerate METL, which
his father founded in the 1970s. Eighty-six-year-
old Onsi Sawiris of Egypt is the continent’s
oldest billionaire and the father of two other
African billionaires — Nassef and Naguib
Sawiris.
Thirteen out of Africa’s 21 billionaires have self-
made fortunes, while the other eight inherited
their fortunes. The 21 billionaires hail from 7
countries: South Africa, Egypt, Nigeria, Morocco
(which has 3 billionaires), Algeria ( 1 billionaire),
Angola (1 billionaire) and Tanzania (1
billionaire).
Our list tracks the wealth of African billionaires
who reside on the continent, thus excluding
Sudanese-born billionaire Mo Ibrahim, who is a
U.K. citizen, and billionaire London resident
Mohamed Al-Fayed, an Egyptian citizen. This
year’s list includes only billionaires, rather than
the 50 richest people in Africa. We calculated
net worths using stock prices and currency
exchange rates from the close of business on
Thursday, January 5. To value privately-held
businesses, we couple estimates of revenues or
profits with prevailing price-to-sales or price-to-
earnings ratios for similar public companies.
We have purposely excluded dispersed family
fortunes such as the Chandaria family of Kenya
and the Madhvanis of Uganda, because the
wealth is believed to be held by dozens of
family members. We do include wealth
belonging to a member’s immediate relatives if
the wealth can be traced to one living
individual; in that case, you’ll see “& family” on
our list as an indication.
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