Update: See the List of Richest Billionaires in Africa

More Nigerians than South Africans make the list of Africa’s Richest People

Nigerians now top the 2014 Africa’s richest list as against South Africa for the first time for four years that FORBES has been tracking Africa’s richest. Aliko Dangote of Nigeria remained on top of the list with 12 other Nigerians in the top 50 Africa’s richest business tycoons. South Africa claims 11 spots down from the 14 spots they had in 2013.

Africa's richest man Dangote Ranked Among 100 Most Powerful People in the World. Africa's Richest List

Richest Man in Africa – Aliko Dangote

Two new billionaires from Nigeria joined the 2014 Africa’s richest list; they include Orji Uzor Kalu of Slok Group and Tony Elumelu of Heir Holdings. Also, new in the list as a billionaire is King Mohammed IV of Morocco. Three billionaires in the 2013 richest list are now off the 10 figure club; they include Vimal Shah of Kenya, replaced by his father Bhimji Depar Shah at a lower net worth, Abdulsamad Rabiu of Nigeria dropped below $1 billion due to ceased operations at his floating cement terminal in Nigeria, and South African mining mogul Desmond Sacco who dropped to a net worth of $680 million, down from $1.4 billion last year, because of a sharp decline in the share price of his mining firm Assore Group. The number of billionaires on the list stayed steady with 2013 at 27.

Also Read: Dangote 68th Most Powerful Person

The top 50 Africa’s richest are, as a whole, wealthier than a year ago. Their combined net worth of $110.7 billion is 6.7% more than in November 2013. Behind Nigeria’s Aliko Dangote at number one with a fortune of $21.6 billion, comes South African luxury goods magnate Johann Rupert, number two for the second year in a row, worth an estimated $7.3 billion. His Compagnie Financiere Richemont has a stable of luxury brands including Cartier, Montblanc, and fashion house Azzedine Alaia.

Six new entrants in the list of richest Africans include the above mentioned new billionaires, as well as Ali Wakrim of Morocco and Ahmed Ezz of Egypt. Mohamed Bensalah of Morocco rejoins the list after dropping off in 2013. Seven members of the 2013 list fell off: Vimal Shah of Kenya (as mentioned earlier, his father Bhimji replaced him), Cyril Ramaphosa of South Africa, Raymond Ackerman of South Africa, Sani Bello of Nigeria, Adrian Gore of South Africa, Shafik Gabr of Egypt, and Alami Lazraq of Morocco.

Only two women made it to the top 50 Africa’s richest list. They include Isabel dos Santos of $3.7B and Folorunsho Alakija of Nigeria with a net worth of $2.5B.

Thirty-five of the fortunes were self-made; two were inherited and the remaining 13 were inherited but are being expanded.

Kerry A Dolan of Forbes stated the criteria Forbes use in making the list and also why Sudanese born Mo Ibrahim is not on the list. She said “Our list tracks the wealth of African citizens who reside on the continent, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen and billionaire London resident Mohamed Al-Fayed, an Egyptian citizen. We calculated net worths using stock prices and currency exchange rates from the close of business on Friday, November 7. To value privately-held businesses, we couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies.”

Here is the list

1Aliko Dangote $21.6 B
2Johann Rupert & family$7.3 B
3Nicky Oppenheimer & family$6.8 B
4Nassef Sawiris $6.1 B
5Christoffel Wiese $5.4 B
6Mike Adenuga$4.6 B
7Mohamed Mansour $4 B
8Isabel dos Santos$3.7 B
9Issad Rebrab & family $3.2 B
10Naguib Sawiris $3.1 B
11Youssef Mansour$2.9 B
12Folorunsho Alakija $2.5 B
13Othman Benjelloun$2.4 B
14Yasseen Mansour $2.3 B
14Patrice Motsepe $2.3 B
16King Mohammed VI$2.1 B
17Koos Bekker$2 B
18Stephen Saad $1.9
19Onsi Sawiris $1.9 B
20Aziz Akhannouch & family$1.8 B
21Miloud Chaabi & family$1.3 B
22Theophilus Danjuma $1.1 B
22Sudhir Ruparelia $1.1 B
22Samih Sawiris $1.1 B
22Anas Sefrioui $1.1 B
26Rostam Azizi$1 B
26Tony Elumelu$1 B
26Orji Uzor Kalu
$1 B
29Femi Otedola$900 M
30Jim Ovia$850 M
31Mohammed Dewji$800 M
32 Lauritz (Laurie) Dippenaar$730 M
33Mohamed Bensalah$700 M
33Abdulsamad Rabi$700 M
33 Bhimji Depar Shah & family$700 M
36Desmond Sacco$680 M
37Mohammed Indimi
$670 M
38Gus Attridge$660 M
39Tunde Folawiyo$650
40Moulay Hafid Elalamy$620 M
41Hakeem Belo-Osagie$600 M
41Strive Masiyiwa$600 M
41Ali Wakrim & family$600 M
44Said Salim Bakhresa $575 M
45Reginald Mengi$560 M
46Naushad Merali$550 M
46Oba Otudeko

$550 M
48Ahmed Ezz$520 M
48Jannie Mouton$520
50Gerrit Thomas (GT) Ferreira $510 M

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Francis Nwokike

Francis Nwokike is a Social Entrepreneur and an experienced Disaster Manager. I love discussing new business trends and marketing tips. I share ideas and tips that will help you grow your business.

1 Response

  1. Enos k Chimbiri says:

    This is good thing

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