Who Made it to the 2019 Forbes List of Africa's Billionaires!

Category : Business/Economy
Posted By : AmnaAnees
Posted Date : 20 Apr 2019 13:48 hrs

Surely the wealthiest persons on the soil of Africa, but Africa's billionaires are, ironically, the poorer billionaires globally. Last year, 23 people made it to Africa's Billionaires list published by the Forbes, and the number has dropped down to a total of 20 people this year. Fighting and sustaining amidst the weaker value of the currency, and the undulating stock market, let's find out who made it to the 2019 Forbes list of Africa's billionaires!

•    Aliko Dangote

Rank: Number 1
Net Worth: 10.3 Billion USD
Major Business: Sugar, Flour and Cement

Originally from Nigeria, Aliko Dangote is the richest African person today with a whopping wealth of 10.3 billion USD. However, things were promising for his company last year, as the stock market price dropped by almost 20% of his company Dangote Cement, and he lost 2 Billion USD. Dangote Cement is the most valuable and important asset of Dangote as it is the major source of earnings. Additionally, he ran other business of sugar and flour mills as well.

•    Mike Adenuga

Rank: Number 2
Net Worth: 9.2 Billion USD
Major Business: Telecom and Oil

Another Nigerian businessman, Mike Adengua reside on the second spot of continent's richest people. with 9.2 billion USD of net wealth. He owns Nigeria's 3rd largest telecommunication/ cell phone network called as Globacom. Moreover, he has immense real state shares in the Nigerian market, owns a network of 1200 signal towers for mobile devices, and Coinoil producing firm that also deals with exploring new sources of oil. After he had submitted a thorough and detailed report of his assets in January 2018, his net worth attained an incredible leap of 5.3 billion USD.

•    Nicky Oppenheimer

Rank: Number 3
Net Worth: 7.3 Billion USD
Major Business: Diamonds

Enjoying 3rd position among the richest Africans is the South African wealthiest man alive, dealing in the money-making business of African diamonds, Nicky Oppenheimer. He is 73 years old and is heir to diamond mining firm founded by his grandfather. He ran this family business for a long time and then sold this firm to American mining giant company, Anglo American in 2012, for 5.1 billion USD cash in hand. His current net wealth has come down from previous years 7.7 billion USD.

•    Nassef Sawiris

Rank: Number 4
Net Worth: 6.3 Billion USD
Major Business: Construction and Chemicals

Among all the people who made it to the 2019 Forbes list of Africa's billionaires, Nassef Sawiris of an iconic Egyptian family comes on the 4th spot who's real-time net wealth is 7.5 billion USD. He belonged to the wealthiest Egyptian family and his brother has also made it to this list. In 2015, the family split the Orascom Construction Industries, OCI and Orascom Constructions. He overtook OCI which is the largest firm dealing in the nitrogen fertilizers production. Its plants are located in Iowa and Texas. And its stocks are traded in the Euronext Amsterdam exchange.

•    Johann Rupert

Rank: Number 5
Net Worth: 5.3 Billion USD
Major Business: Luxury Goods

South African billionaire, Johann Rupert runs Compagnie Financiere Richemont, which deals with Swiss luxury goods. Major brands of this country are Montblanc and Cartier. A current number of his net worth is 6.1 billion USD and counting.

•    Issad Rebrab

Rank: Number 6
Net Worth: 3.7 Billion USD
Major Business: Food

Algerian businessman Issad Rebrab owns Cevital which is Algeria's largest privately run company. He is 75 years old. Under the shadow of Cevital, one of the world's largest sugar refinery work that has the capacity of producing 2 million tons of sugar per year. In addition to that, this company owns Brandt which makes French home appliances, an Italian mill, and one water purification company in Germany. In the future, Rebrab plans to expand his business to Brazil by constructing train tracks for helping the transportation of soy flour, corn, and sugar. Seeing the trend of his business expansion, no wonder he'll attain a higher rank in this list next year.

•    Naguib Sawiris

Rank: Number 7
Net Worth: 2.9 Billion USD
Major Business: Telecom

Egyptian billionaire from the wealthiest family, Naguib Sawiris, earned his billionaire status mainly by selling Orascom Telecom to a Russian firm named as VimpelCom in 2011 that earned him billions of dollars. Among other family holdings, he runs Endeavour Mining and Golden Star Resources that operate in Africa and Australia for the purpose of digging gold mines.

•    Koos Bekker

Rank: Number 8
Net Worth: 2.3 Billion USD
Major Business: Media and Investments

66 years old Bekker has miraculously transformed the South African newspaper publishing company, Naspers, which is now blooming as a giant TV house and e-commerce company. Bekker has invested Naspers in the one of the biggest Chinese media firm, Tencent in the year 2011, and is now working as a non-executive director at Tencent. He retired from Naspers as CEO in 2014 and returned back in 2015 as chairman.


•    Isabel dos Santos

Rank: Number 8
Net Worth: 2.3 Billion USD
Major Business: Investments

Isabel has inherited a huge amount of wealth and major businesses from his father, who remained president of Angola for a long period of time. During her father's reign, she became head of Angola's national oil firm but was removed from this seat after the arrival of the new president. Including this, she had shares in various Angolans banks and telecommunication firms. Moreover, she also has shares of various Portuguese telecommunication firms and Cable TV companies. Her net worth has declined from 2.7 billion USD in last year to 2.3 billion USD this year because of decrease in the market stock holdings of Galp and Nos, the two Portuguese firms she has shares in. Plus, the market position of Unitel, the Angolan telecommunication company, has also declined, 25% of which she owns.

•    Mohamed Mansour

Rank: Number 8
Net Worth: 2.3 Billion USD
Major Business: Diverse Range of Business

The 71 years old Egyptian businessman, Mohammed Mansour runs Mansour Group, that was founded in 1952 by his father. Now, this firm has more than 60,000 employees. Mansour has also started dealership of General Motors in Egypt, back in 1975 that later became one of the largest distributors of General Motors.

•    Strive Masiyiwa

Rank: Number 8
Net Worth: 2.3 Billion USD
Major Business: Telecom

Strive Masiyiwas is among those African billionaires whose wealth and position has tremendously increased in this year's rankings as compared to last year. His net worth last year was 1.6 billion USD which has now become 2.3 billion USD because of the eccentric rise in the price of shares of Econet Wireless Zimbabwe. Anyone who is wondering about who made it to the 2019 Forbes list of Africa's billionaires, will be surprised to the boost Masiyiwa has made in a year.

•    Patrice Motsepe

Rank: Number 8
Net Worth: 2.3 Billion USD
Major Business: Mining

Motsepe has come into the billionaire zone in 2008 and became the first black African to make it to the Forbes list. He is the founder, owner, and chairman of Rainbow Minerals. He is a genius businessman. He purchased a swindling gold mine shafts back in 1997 and then turned them into highly profitable mines in later years. To promote investment in African soil, he launched a private firm with the name of African Rainbow Capital back in 2016.

•    Aziz Akhannouch

Rank: Number 13
Net Worth: 2.1 Billion USD
Major Business: Petroleum and a range of business

Aziz Akhannouch owns the majority of the Akwa Group, a multibillion-dollar family business that was started by his father in 1932. He also serves as the minister of Agriculture and Fisheries and is also the president of royalist political party. He definitely has a big name in the political scenario of Morocco.

•    Mohammed Dewji

Rank: Number 14
Net Worth: 1.9 Billion USD
Major Business: Diversified range of business

Among Tanzanians who made it to the 2019 Forbes list of Africa's billionaires, 43 years old Mohammed Dewji holds a renowned place. He is the CEO of METL that was started by his father. METL deals in textile manufacturing, beverages and edibles, flour milling and is set to make several other expansions in the future. Currently, METL is operating in 6 African countries, but Dewji is hopeful for its expansion in several other countries in the near future. He was kidnapped from Dar es Salam, Tanzania at gunpoint, and was released after a period of 9 days.

•    Othman Benjjelloum

Rank: Number 15
Net Worth: 1.7 Billion USD
Major Business: Banking and Insurance

Benjelloun is the CEO of BMCE bank that operates within 20 African countries. Through his Moroccan company FinanceCom, Benjelloun has tied up with French telecommunication firm, Orange. Recently, he had inaugurated the plan of building a 55 story tower in Rabat with 500 million USD. This will be ranked among the tallest buildings of the African continent. FiananceCom is expected to be a part of the multibillion-dollar project in which a tech city in the Tangiers will be made where expectedly 200 Chinese companies will host.

•    Abdulsamad Rabiu

Rank: Number 16
Net Worth: 1.6 Billion USD
Major Business: Cement and Sugar

Nigerian cement industry's giant Abdulsamad Rabiu has made it to this list after 4 years gap. Raibu has inherited a fortune and land from his father. And started doing his own business back in 988 by importing chemicals, steel, and iron. He owns the BUA group that deals with cement production, real estate, and sugar refining business. Rabiu merged with Kalambaina Cement company, and now own 97% of its entity, at the end of 2018. Additionally, his own cement firm has expanded in new horizons as well. His real-time wealth has dropped down to 1.5 billion USD.

•    Yasseen Mansour

Rank: Number 17
Net Worth: 1.5 Billion USD
Major Business: Diversified range of business

Mansour is the chairman of the Palm Hills Developments that is one of the largest real estate company of Egypt. He holds a share in the family business, named as Mansour Group. This company also work as the distributor of General Motors' products.

•    Youssef Mansour

Rank: Number 18
Net Worth: 1.2 Billion USD
Major Business: Diversified range of business

73 years old Egyptian billionaire, Youssef Mansour, belongs to the Mansour family the Mansour Group. Along with their business as the distributors of GM vehicles, Mansour Group solely has the rights for L'Oreal cosmetics in Egypt. His younger brothers, Yasseen and Mohamed, are positioned above in this list.

•    Folorunsho Alakija

Rank: Number 19
Net Worth: 1.1 Billion USD
Major Business: Oil

Nigerian female billionaire Folorunsho Alakija is among the leading business women all around the globe. She is the vice chairperson of one Nigerian oil exploration firm, Fafma Oil. This firm holds its stakes Agbami Oilfield. Her company was awarded an oil prospecting license by the Nigerian Government in 1993. After a while, this permit was converted into an oil mining lease. She started her professional career through a fashion label. And the wife of former Nigerian present was among her major customers. She held the 80th position in Forbes's list of Power Women back in the year 2016. She is a self-made person, having a wealthy background or paternal financial help beforehand, and that makes her an ideal and icon for young African girls.

•    Michiel Le Roux

Rank: Number 19
Net Worth: 1.1 Billion USD
Major Business: Banking

Roux founded Capitec Bank in South Africa in 2001. Capitec bank trades within the Johannesburg Stock Exchange and it mainly targets middle class South African that are emerging on the economic horizon. He held the position of chairman of this bank from 2007 till 2016, and the continued to sit as the board member.

There you go. Surely, all the curious people who were wondering who made it to the 2019 Forbes list of Africa's billionaires and what's their major source of earning is, must be satisfied now.

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