14 Ways To Be An African Billionaire

Some 14 Africans made it into Forbes annual list of dollar billionaires this year, the same number as last year.

However, two Egyptians have dropped out, replaced by two Moroccans.

All 14 were men.

Nigerian tycoon Aliko Dangote, who had made his wealth mainly in the sugar, flour and cement industries, is the richest African, ranked 76th overall with an estimated net worth of $11.2 billion.

Mr Dangote, 54, was in November ranked the continent’s wealthiest man on the prestigious magazine’s inaugural list of Africa’s top 40 richest people, with a then fortune of $10.1 billion.

South African diamond magnate Nicky Oppeinheimer, whose family dynasty last year sold its 40 per cent stake in De Beers to global miner Anglo American, was the second African on the super-rich list, with an estimated net worth of $6.8 billion.

The 66-year-old owns South Africa’s largest private game reserve.

Another South African, Johann Rupert, whose fortunes lie in the luxury goods industry, was third, and 199th overall, with a net worth of $5.1 billion.

Six Egyptians, four South Africans and two Nigerians are on the list, which also includes two Moroccans.

The Sawiris and Mansour families of Egypt, who have made their money mainly in the telecoms, real estate and construction industries, have five representatives on the list.

Banking and oil

The Sawiris family is better associated with the Orascom conglomerate brand, while the Mansour brothers, Yasseen and Youssef, are synonymous with the selling of GM vehicles, but also dabble in retail and real estate.

Reclusive Nigerian titan Mike Adenugu, who has interests in telecoms, banking and oil, is ranked 248th on the list of 1,226 billionaires, with a net worth of $4.3 billion.

South African mining magnate Patrice Motsepe, 50, makes it at position 442 with a fortune of $2.7 billion. The country’s first black billionaire, he has since 2003 owned the Mamelodi Sundowns football club.

Moroccans Othman Benjelloun (banking and insurance) and Anas Sefrioui (real estate) are also ranked, with net worths of $2.3 billion and $1.6 billion respectively.

Egyptian Mohamed Al Fayed, 79, rounds out the Africans on the list, with an estimated fortune of $1.3 billion. He owns English Premier League football club Fulham and his son Dodi, died in a car crash in 1997 together with companion Princess Diana.

Mexican telecoms billionaire Carlos Slim topped the list with a net worth of $69 billion.

Bill Gates and super-investor Warren Buffet followed with fortunes of $61 billion and $44 billion respectively.

Some 58 countries are represented this year, with the total list averaging out at $3.7 billion.

Seven Facebook billionaires are also ranked.

Africa Review

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