Top 10 African Billionaires
Top 10 African Billionaires:
Ever wondered who the richest people in Africa are? Find out now! Here are the Forbes top 10 African billionaires and how they made their fortunes.
60 Year old Nigerian Aliko Dangote is the founder and chairman of Dangote Cement, the continent’s largest producer of cement, producing 44 million metric tons annually, with plans to increase its output 33% by 2020. He owns nearly 88% of publicly-traded Dangote Cement through a holding company. Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies. As of 2018, he has a net worth of $12.2B. Out of these African billionaires, Dangote is the wealthiest.
Nicky Oppenheimer & Family
South African Oppenheimer is the former CEO of De Beers, the premier Diamond company in South Africa. The De Beers diamond heir sold his 40% stake in De Beers to Anglo American for $5.1 billion in cash in 2012. Anglo American owns 85% of De Beers. Anglo American was founded by Oppenheimer’s Grandfather. He served on Anglo American’s board for 37 years until 2011, and retains an estimated 1% stake in the company. As of 2018, they have a net worth of $7.7B
Johann Rupert & Family
South African born Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont. Best known for the brands Cartier and Montblanc, the company was formed in 1998 by spinning off international assets owned by Rembrandt Group Limited (now Remgro Limited), a South African company his father Anton founded in the 1940s as a tobacco manufacturer. Rupert owns a 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding company based in Luxembourg that has a stake in British American Tobacco. He also owns part of the Saracens English rugby team and Anthonij Rupert Wines, named after his deceased brother. He has a $7.2B net worth as of 2018.
Egypt’s richest businessman, Nassef Sawiris, runs OCI, one of the largest nitrogen fertilizer producers in the world. Originally Orascom Construction Industries, Sawiris split the company into two entities in 2015. Orascom Construction now trades on Egypt’s exchange and Nasdaq Dubai, while OCI, the fertilizer and chemicals business, trades on the Euronext Amsterdam exchange. Sawiris also owns nearly 5% of cement giant LafargeHolcim, and 7% of Adidas. His net worth stands at $6.8B as of 2018.
Mike Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 36 million subscribers; it also has operations in Ghana and the Republic of Benin. His exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. He also owns real estate firm Proline Investments, which has hundreds of properties throughout Nigeria. His net worth is $5.3B as of 2018.
Naguib was CEO of Cairo-based Orascom Telecom Media & Technology (OTMT).The Egyption has a net worth of $4B as of 2018.
Issad Rebrab & family
Issad Rebrab founded Algeria’s biggest privately held conglomerate, Cevital. It owns one of the largest sugar refineries in the world, with an annual output of 1.6 million tons; it also produces vegetable oil and margarine. Rebrab has been diversifying by buying European companies in distress. In 2014, he acquired Groupe Brandt, a large French-based maker of appliances that had filed for bankruptcy protection. Cevital has invested more than $200 million to build a Brandt plant in Algeria. As of 2018, his net worth stands at $4B.
Koos Bekker is revered as an astute executive who transformed South African newspaper publisher Naspers into a digital media powerhouse, primarily due to his 2001 bet on Chinese Internet and media firm Tencent. During his tenure as CEO, which began in 1997, Bekker oversaw a rise in the market capitalization of Naspers from about $600 million to $45 billion, while drawing no salary, bonus, or benefits. He was compensated via stock option grants that vested over time. Bekker, who retired as the CEO of Naspers in March 2014, returned as chairman in April 2015. Over the summer of 2015 he sold more than 70% of his Naspers shares. As of 2018, his net worth stands at $2.8B
Isabel Dos Santos
Angolan Dos Santos’ assets in Angola include 25% of Unitel, the country’s largest mobile phone network, and 42% of a bank, Banco BIC. In Portugal she owns nearly 6% of oil and gas firm Galp Energia (alongside Portuguese billionaire Americo Amorim), and nearly 19% of Banco BPI, the country’s fourth-largest bank She is also a controlling shareholder of Portuguese cable TV and telecom firm Nos SGPS (formerly called Zon). Her net worth is $2.7B as of 2018.
Mohamed Mansour oversees conglomerate Mansour Group, which has the sole distribution rights in Egypt for GM vehicles and Caterpillar equipment; it also has the McDonald’s franchise. However, the group generates the bulk of its revenues from outside the country. Mansour and his brothers Yasseen and Youssef, all billionaires, have the exclusive rights to Caterpillar sales in Russia and six African countries. Through its private equity arm, it also has more than $500 million in investments in such places as Dubai, Africa and the U.S., where they own a logistics company in California. Mohamed has real estate in Missouri. Son Loutfy oversees the family’s private equity investments. His net worth is $2.7B as of 2018.
All of these African billionaires are great inspiration for the rest of the continent. Let’s see how many African billionaires we can get!
What do you think of these African billionaires? Let us know in the comments below!
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