For the ninth year in a row, Aliko Dangote of Nigeria has been declared as the wealthiest person in Africa, with an estimated net worth of $10.1billion. In the latest ranking of the world’s billionaires by Forbes, the American global media company, focusing on business, investment, technology, entrepreneurship and leadership, Dangote’s present worth is down from his estimate of $10.3 billion, a year ago; attributed to possibly a slightly lower stock price for his Dangote Cement flagship company.
Africa has 54 nations, but only eight countries have billionaires according to Forbes, with South Africa and Egypt dominating not only the top 10 richest people in Africa list, but in the rankings overall with five billionaires each. Nigeria comes second with four billionaires, including Africa’s richest man, Aliko Dangote.
Nassef Sawiris of Egypt is the new number two richest, worth $8 billion, up from $6.3 billion last year. Sawiris’ most valuable asset is a stake in shoemaker Adidas worth a recent $4 billion. The increase in Adidas’ share price alone added nearly $1.5 billion to his fortune since January 2019. He also owns a significant stake in fertilizer producer OCI N.V. In 2019, Sawiris and U.S. investor Wes Edens purchased the remaining stake they didn’t own in U.K. Premier League team Aston Villa Football Club.
Number three on the list is Nigeria’s Mike Adenuga, worth $7.7 billion. He owns mobile phone network, GloMobile as well as oil producer Conoil and extensive real estate holdings. His mobile phone network, Globacom, is the third-largest operator in Nigeria, with 43 million subscribers while his oil exploration outfit, Conoil Producing, operates six oil blocks in the Niger Delta. One member of this elite group was worth 50 per cent less than a year ago.