The Top Ten On The List…
Yes, indeed, Africa has a new list that you need to see!!! Here in Africa, as elsewhere in the world, the wealthiest have come through the pandemic just fine. The continent’s 18 billionaires are worth an average $4.1 billion, 12% more than a year ago, driven in part by Nigeria’s surging stock market.
Going ahead, Africa’s new list that you need to see has to do with the movers and shakers on the continent. These people are considered as the most affluent, with some retaining their position as others enter the spotlight.
The biggest gainer this year is another Nigerian cement tycoon, Abdulsamad Rabiu. Remarkably, shares of his BUA Cement PLC, which was listed on the Nigeria Stock Exchange in January 2020, have doubled in value in the past year. That pushed Rabiu’s fortune up by an extraordinary 77%, to $5.5 billion. One thing to note: Rabiu and his son together own about 97% of the company, giving the company a tiny public float.
- Aliko Dangote: Aliko Dangote is Africa’s richest person with a net worth of $12.1 billion. He founded and chairs Dangote Cement, the continent’s largest cement producer. Also, Aliko Dangote owns 85% of publicly traded Dangote Cement through a holding company. Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa.
2. Nassef Sawiris: Nassef Sawiris is a scion of Egypt’s wealthiest family. His networth as of this year is $8.5 billion. His brother Naguib is also a billionaire. Sawiris split Orascom Construction Industries into two entities in 2015: OCI and Orascom Construction. He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange.
3. Nicky Opeinheimer and Family: Oppenheimer, heir to his family’s fortune, sold his 40% stake in diamond firm De Beers to mining group Anglo American for $5.1 billion in cash in 2012. He was the third generation of his family to run DeBeers, and took the company private in 2001. Oppenheimer is from South Africa with a net worth of $8 billion.
4. Johann Rupert and Family: Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont. The company is best known for the brands Cartier and Montblanc and was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited). Rupert’s father established Rembrandt Group Limited in the 1940s. His net worth has risen from $6.5 billion in 2020 to $7.2 billion in 2021.
5. Mike Adenuga: 67-year-old Adenuga is Nigeria’s second richest man. Adenuga built his fortune in telecom and oil production. His mobile phone network, Globacom, is the third-largest operator in Nigeria, with 55 million subscribers. Adenuga is a self-made billionaire with a net worth of $6.3billion.
6. Abdulsamad Rabiu: Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled. Currently, his net worth stands at $5.5 billion.
7. Issad Rebrab is on the most affluent list with a net worth of $4.8 billion. Issad Rebrab is the founder and CEO of Cevital. This company is Algeria’s biggest privately-held company. Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year.
8. Naguib Sawiris is a scion of Egypt’s wealthiest family. His brother Nassef is also a billionaire. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction. Naguib Sawiris’s current net worth is $3.2 billion.
9. Patrice Motsepe: Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 and the first black African on the Forbes list. Motsepe’s net worth in 2021 is $3 billion. Back in 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa.
10. Koos Bekker is revered for transforming South African newspaper publisher Naspers into an eCommerce investor & cable TV powerhouse. He led Naspers to invest in Chinese Internet and media firm Tencent in 2001, by far the most profitable of the bets he made on companies elsewhere. Koos Bekker’s net worth stands at $2.8 billion in this year.