EKO HOT BLOG reports that Forbes, a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle has listed the richest African people in 2022.
According to Forbes, Africa’s billionaires are richer than they have been in years, despite the global pandemic. As a group, the continent’s 18 billionaires are worth an estimated $84.9 billion – a 15% increase from twelve months ago and the most since 2014, when a larger number of billionaires–28–were worth a combined $96.5 billion.
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On average, the continent’s billionaires are worth $4.7 billion now vs. $3.4 billion in 2014. Soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.
For the 11th year in a row, Alike Dangote tops the list of the continent’s richest person.
The 18 billionaires from Africa, none of whom are new to the ranks, hail from seven different countries. South Africa and Egypt each have five billionaires, followed by Nigeria with three and Morocco with two. All of the continent’s billionaires are men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.
Below are the full lists of Africa richest people
Rank Name Net Worth Age Industry
1 Aliko Dangote $13.9 B 64 cement, sugar
2 Johann Rupert $11 B 71 luxury goods
3 Nicky Oppenheimer $8.7 B 76 diamonds
4 Nassef Sawiris $8.6 B 61 construction, investments
5 Abdulsamad Rabiu $7 B 61 cement, sugar
6 Mike Adenuga $6.7 B 68 telecom, oil
7 Issad Rebrab $5.1 B 78 food
8 Naguib Sawiris $3.4 B 67 telecom
9 Patrice Motsepe $3.1 B 59 mining
10 Koos Bekker $2.7 B 69 media, investments
10 Strive Masiyiwa $2.7 B 60 telecom
12 Mohamed Mansour $ 2.5 B 74 diversified
13 Aziz Akhannouch $2.2 B 61 petroleum, diversified
14 Michiel Le Roux $1.7 B 72 banking
15 Othman Benjelloun $1.5 B 89 banking, insurance
16 Mohammed Dewji $1.5 B 46 diversified
17 Youssef Mansour $1.5 B 76 diversified
18 Yasseen Mansour $1.1 B 60 diversified
METHODOLOGY
Forbes list tracks the wealth of African billionaires who reside in Africa or have their primary business there, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen, and billionaire London resident Mohamed Al-Fayed, an Egyptian citizen. Strive Masiyiwa, a citizen of Zimbabwe and a London resident appears on the list due to his telecom holdings in Africa.
Net worths were calculated using stock prices and currency exchange rates from the close of business on Wednesday, January 19, 2022. To value privately-held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies. Some list members grow richer or poorer within weeks-or days-of our measurement date.
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