Africa, the second largest continent in the world, is second only to Asia in terms of net land mass. To put this size into perspective, we could comfortably fit entire nations like the United States, China, India, Japan, Mexico, and multiple European countries within our borders. Incredibly, despite its vast scale, Africa is home to around 18 billionaires, with a combined net worth of a whopping $81.5 billion. It is worth noting that these billionaires come from only seven of the continent’s 54 countries. Our focus here is on the top 10 billionaires, whose combined wealth reaches $67.8 billion, accounting for approximately 79% of the total billionaire wealth.
Aliko Dangote with 13.5 billion dollars is the richest person on the African continent.
READ I| Top 10 billionaires in the world in 2023
List of the 10 biggest billionaires in Africa in 2023
The previous year, these billionaires had a financial meltdown, losing a total of $3.1 billion in accumulated wealth, even as another billionaire joined their ranks. Their combined net worth declined by 4%, from an estimated $85.9 billion in 2022. This decline followed a staggering 15% increase in the previous year, fueled by skyrocketing equity values in the region.”
The wealth of the tycoons was a reflection of the global trend, fluctuating in tandem with global capital values. During the first nine months of 2022, the S&P All Africa index experienced a significant decline, falling by more than twenty percent. But the recovery at the end of the year gave the index momentum, leading to a more moderate decline of 3% by January 13, 2023.
READ I| [Updated] Top 13 Richest Soccer Players in the World 2023: Net Worth, Career, Salary & More
Here is the list:
|
RANK |
NAME |
NETTO VALUE |
INDUSTRY |
|
1 |
Aliko Dangote |
13.5 billion dollars |
Production |
|
2 |
Johann Rupert and family |
10.7 billion dollars |
Fashion and retail |
|
3 |
Nicky Oppenheimer and family |
8.4 billion dollars |
Metals and mining |
|
4 |
Abdulsamad Rabiu |
7.6 billion dollars |
Diversified |
|
5 |
Nassef Sawiris |
7.3 billion dollars |
Construction and engineering |
|
6 |
Mike Adenuga |
6.3 billion dollars |
Diversified |
|
7 |
Issad Rebrab and family |
4.6 billion dollars |
Food and drink |
|
8 |
Naguib Sawiris |
3.3 billion dollars |
Telecom |
|
9 |
Patrice Motsepe |
3.2 billion dollars |
Metals and mining |
|
10 |
Mohamed Mansour |
2.9 billion dollars |
Diversified |
This list is compiled from the Forbes Africa Billionaires list, which tracks the wealth of African billionaires who live on the continent or have their primary business operations there. The net worth of these individuals has been carefully calculated taking into account stock prices and prevailing currency rates as of close of business on Friday, January 13, 2023.
For privately owned companies, an extensive valuation process is undertaken, taking into account their revenues or profits, and subsequently applying prevailing price-to-sales or price-to-earnings ratios derived from analogous public companies. It is important to recognize that the financial status of some individuals on this list can undergo significant fluctuations, making them either wealthier or less wealthy within weeks or even days of our measurement date.
READ I| Top 10 richest actors in the world
The richest people in Africa in 2023
1. Aliko Dangote
Source: Production
Aliko Dangote holds the title of the richest person in Africa. His considerable wealth, totaling $13.5 billion, stems from his enormous influence in the manufacturing sector. Dangote Cement, the continent’s leading cement producer, falls under his purview, with an impressive annual production capacity of 48.6 million metric tons, spread across ten African countries.
In addition, its endeavors extend to the fertilizer industry, as its plant in Nigeria started operations in March 2022, while its ongoing project, the Dangote Refinery, promises to be one of the largest oil refineries in the world by completion.
2. Johann Rupert and family
Source: Fashion & Retail
Johann Rupert, head of the Swiss luxury goods company Compagnie Financiere Richemont, established his dominance in the domain of fashion and retail. Known for housing iconic brands such as Cartier and Montblanc, Richemont was created following the spin-off of assets from Rembrandt Group Limited in 1998.
In addition to Richemont, Johann Rupert also has a 7% stake in the diversified investment company Remgro, which he runs, and a significant 26% ownership in Reinet, an investment holding company based in Luxembourg. His vocal stance against fracking in South Africa’s Karoo region, where he owns large land holdings, underscores his active role in environmental conservation.
READ I| [Latest] Shahrukh Khan Net Worth 2023: Salary, Net Worth in Rupees (INR), Income
3. Nicky Oppenheimer and family
Source: Metals and mining
Nicky Oppenheimer, heir to the DeBeers diamond empire, played a key role in the family’s enduring legacy. In a landmark move, he sold his 40% stake in DeBeers to mining conglomerate Anglo American, netting $5.1 billion in cash in 2012. Over three generations, the Oppenheimer family has exerted a significant influence on the global diamond trade, spanning 85 years to key transactions.
Namely, Oppenheimer ventured into aviation with the establishment of the company Fireblade Aviation in Johannesburg, specializing in charter flights. Moreover, its stewardship extends to the conservation domain, with more than 720 square miles of protected land across South Africa, Botswana, Zimbabwe and Mozambique under its jurisdiction.
4. Abdulsamad Rabiu
Source: Diversified
Abdulsamad Rabiu serves as the visionary founder of BUA Group, a Nigerian conglomerate active in various sectors, including cement manufacturing, sugar refining and real estate. His strategic merger of privately held Obu Cement with publicly listed Cement Co. from Northern Nigeria, over which he had control, led to the creation of BUA Cement Plc.
This entity is now actively traded on the Nigerian Stock Exchange, with Rabiu claiming a substantial 98.2% ownership. His journey began with the import of iron, steel and chemicals in 1988, which marked the beginning of his entrepreneurial career.
5. Nassef Sawiris
Source: Construction & Engineering
Nassef Sawiris, a celebrity investor who hails from a prominent Egyptian family, boasts an almost 6% stake in sporting goods giant Adidas, making it one of his most prized assets. In an incredible feat, he acquired a 5% stake in Madison Square Garden Sports, a New York-listed entity that owns the NBA Knicks and NHL Rangers.
In addition, Sawiris leads OCI, one of the world’s largest producers of nitrogen fertilizers, with operating bases in Texas and Iowa. His wide-ranging investments include Orascom Construction, an engineering and construction company traded on the Cairo Stock Exchange and Nasdaq in Dubai. His influence further extends to cement industry giants Lafarge Holcim and Adidas, as he takes a role on the latter’s supervisory board. Namely, he teamed up with Wes Edens of Fortress Investment Group to buy Premier League football club Aston Villa.
6. Mike Adenuga
Source: Diversified
Mike Adenuga, Nigeria’s second richest individual, charted his way to wealth through shrewd ventures in telecommunications and oil production. Its mobile network, Globacom, is the third largest operator in Nigeria, serving a broad subscriber base of 55 million.
His oil exploration company, Conoil Producing, operates in six oil-rich blocks within the Niger Delta region. Adenuga’s journey began with an MBA at Pace University in New York, where he supported himself by working as a taxi driver and tried his hand at entrepreneurship, making his first million at the age of 26 selling lace and distributing soft drinks.
READ I| [Latest] Donald Trump Net Worth 2023: Salary, Net Worth in Rupees (INR), Income
7. Issad Rebrab & family
Source: Food and drink
Prominent businessman Issad Rebrab developed and supervised Cevital for more than 50 years; in July 2022, his son Malik assumed the role of CEO. Algeria’s leading private corporation, Cevital, is home to one of the largest sugar refineries in the world, with an annual production capacity of a whopping two million tonnes.
Outside its borders, Cevital owns shares in well-known European companies, such as the German water treatment company, the Italian steel company and the French household appliance manufacturer Groupe Brandt. Rebrab was jailed for eight months on corruption charges, but was released on January 1, 2020, vehemently denying any wrongdoing.
8. Naguib Sawiris
Source: Telekom
Naguib Sawiris, scion of Egypt’s richest dynasty, made his fortune in the telecommunications arena. His key transaction included the sale of Orascom Telecom to Russian telecom giant VimpelCom (now Veon) in a multi-billion dollar deal in 2011.
Currently serving as chairman of Orascom TMT Investments, Sawiris holds stakes in the Egypt-based asset manager and Italian internet company Italiaonline, among other lucrative investments. Through Media Globe Holdings, it maintains an 88% stake in the pan-European pay TV and video network Euronews. Namely, he led the development of the luxury resort Silversands on the Caribbean island of Grenada.
READ I| [Latest] Will Smith Net Worth 2023: Salary, Net Worth in Rupees (INR), Income
9. Patrice Motsepe
Source: Metals and mining
Patrice Motsepe, founder and chairman of African Rainbow Minerals, achieved billionaire status in 2008, marking a historic milestone as the first black African on Forbes’ prestigious list. In 2016, he ventured into private equity with African Rainbow Capital, targeting investments in Africa. His portfolio extends to a stake in Sanlam, a listed financial services company, and ownership of Mamelodi Sundowns football club, of which he is chairman and owner.
Namely, in March 2021, Motsepe assumed the role of president of the Confederation of African Football, confirming his influence in the continent’s governing body for sports. His journey began with a remarkable achievement, becoming the first black partner at the law firm Bowman Gilfillan in Johannesburg in 1994, followed by the establishment of a successful mining contracting firm and the shrewd acquisition of low-producing gold mines, ultimately turning them into profitable assets.
10. Mohamed Mansour
Source: Diversified
Mohamed Mansour chairs the respected family conglomerate, the Mansour Group, which traces its roots back to 1952 under the leadership of his father, Loutfy. The group, which boasts a workforce of 60,000, has built a reputation as one of the largest General Motors distributors in the world, starting with the establishment of a General Motors dealership in Egypt in 1975.
The Mansour Group holds exclusive distribution rights for Caterpillar equipment in Egypt and seven other African countries. In a remarkable chapter of his life, Mansour served as Egypt’s Minister of Transport from 2006 to 2009 under Hosni Mubarak’s regime. Namely, his siblings Yasseen and Youssef share ownership in the family group, and both have achieved billionaire status, while his son Loutfy oversees the private equity arm, Man Capital.
It is worth noting that Johann Rupert, a prominent figure in the South African luxury goods sector, retained his second position on the list for the second year in a row, although he saw his wealth drop by $300 million, with his net worth of $10.7. billion kunas.
READ I|
Categories: Optical Illusion
Source: newstars.edu.vn