Nigerian businessman, Aliko Dangote has retained his rank as Africa’s richest man as confirmed in the 2022 edition of the Forbes’ Top 10 Africa’s Billionaires List.
Aliko Dangote who has been Africa’s richest person for 11 years in a row, has an estimated networth of $13.9 billion, up from $12.1 billion in 2021.
Forbes said this is as a result of 30 per cent increase in the stock price of Dangote Cement, his most valuable asset.
The Forbes report also revealed that Africa’s billionaires were richer than they had been in years, despite the global pandemic.
As a group, the continent’s 18 billionaires were worth an estimated $84.9 billion, a 15 per cent increase from twelve months ago and the most since 2014, when a larger number of billionaires (28) were worth a combined $96.5 billion.
On average, the continent’s billionaires were worth $4.7 billion now, worth $3.4 billion in 2014 with soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.
Jumping into the number two from the list, spot–up from number four last year–was luxury goods magnate, Johann Rupert of South Africa.
The 18 billionaires from Africa, who were not new to the ranks, also hailed from seven different countries, South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.
All of the continent’s billionaires were men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.
See the full list below:
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