Dangote Group President, Aliko Dangote and Globacom Chairman, Dr Mike Adenuga currently top the Forbes list of African billionaires released on Wednesday.
According to the list, the number of billionaires has decreased by three compared to last year. The list also saw a person return after four years of absence.
Aliko Dangote, whose net worth drop by $2bn from $12.2bn in January 2018 to $10bn in 2019 retained his status as the richest man in Africa for the eighth consecutive time.
Commenting 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.”
Dr Mike Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man.
The US magazine said Adenuga’s net worth had increased significantly from $5.3bn to $9.2bn as he provided more detailed information about its assets.
The Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, featured on the list for the first time since 2015.
Rabiu’s Kalambaina Cement Company Limited merged with Cement Company of Northern Nigeria, which he controlled, in December 2018. He now owns 97 per cent of the entity.
The Founder and Executive Chairman, Famfa Oil Limited, Mrs Folorunsho Alakija, whose net worth dropped to $1.1bn from $1.3bn, was ranked 19th.
The rank was a tie with South African banker, Michiel Le Roux. See the full list below:
- Aliko Dangote $10.3bn
- Mike Adenuga$9.2bn
- Nicky Oppenheimer$7.3bn
- Nassef Sawiris$6.3bn
- Johann Rupert$5.3bn
- Issad Rebrab$3.7bn
- Naguib Sawiris$2.9bn
- Koos Bekker$2.3bn
- Isabel dos Santos$2.3bn
- Mohamed Mansour$2.3bn
- Strive Masiyiwa$2.3bn
- Patrice Motsepe$2.3bn
- Aziz Akhannouch$2.1bn
- Mohammed Dewji$1.9bn
- Othman Benjelloun$1.7bn
- Abdulsamad Rabiu$1.6bn
- Yasseen Mansour$1.5bn
- Youssef Mansour$1.2bn
- Folorunsho Alakija$1.1bn
- Michiel Le Roux$1.1bn
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