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Dangote Tops Forbes' Richest People In Africa List 2022

Aliko Dangote, Forbes' Africa RIchest People List

Nigerian billionaire Aliko Dangote has topped the 2022 list of Africa’s richest persons for the eleventh year consecutively, Forbes magazine stated in a report.

Dangote’s wealth jumped from $12.1 billion last year to a calculable $13.9 billion.

Forbes attributed the growth to a 30% increase within the stock price of Dangote Cement, his most valuable asset.

“A surge in housing developments in Nigeria and growth in government infrastructure disbursal drove higher demand in the initial 9 months of 2021,” the magazine said.

2 alternative Nigerian billionaires – Abdulsamad Rabiu and mike Adenuga – came sixth and seventh richest persons on the continent with estimated values of $7 billion and $6.7 billion respectively.

The report further stated that Africa’s billionaires were richer than they'd been in years, despite the worldwide pandemic.

As a group, the continent’s eighteen billionaires were worth an estimated $84.9 billion – a fifteen percent increase from twelve months ago and also the most since 2014, once a bigger variety 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 costs from Nigeria to Southern Rhodesia raised the fortunes of these tycoons, as demand for merchandise from cement to luxury merchandise ticked up.

Jumping into number two from the list, spot–up from number four last year–was luxury goods magnate, Johann Rupert of South Africa.

over a sixty percent surge within the share worth of his Compagnie Financiere Richemont–maker of Cartier watches and Montblanc pens–pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the largest dollar gainer on the list.

South African Nicky Oppenheimer, who once ran diamond mining firm DeBeers before marketing it to mining firm Anglo American a decade ago, ranked number three, valued at a calculable $8.7 billion.

the largest gainer in percentage terms–up 125 percent was Strive Masiyiwa of Zimbabwe, worth $2.7 billion, up from $1.2 billion last year.

Shares of Econet Wireless Zimbabwe, that he founded, rose over 750% within the past year, aiding to drive up the scale of his fortune.

Nigeria’s Abdulsamad Rabiu, who is $1.5 billion richer after taking one more of his companies’ public.

In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange.

He and his son maintained a 96% stake within the company, which recently had a market capitalization of nearly $2.8 billion. (Forbes discounts the values of stakes when the general public float is a smaller amount than 5 percent).

BUA Cement, within which he and his son had a 96% stake, was listed in January 2020.

Consistent with the report, just 2 of the 18 billionaires are worth lower than in 2021: Koos Bekker of African nation, who born to $2.7 billion from $2.8 billion because they share costs of client net companies Naspers and Prosus fell over 20 percent each.

Mohammed Dewji of Tanzania, whose fortune declined to a calculable $1.5 billion from $1.6 billion a year ago, thanks to lower multiples for publically listed competitors.

The 18 billionaires from Africa, who was not new to the ranks, conjointly hailed from seven totally 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 within the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.

Forbes noted that they list tracked the wealth of African billionaires who resided in Africa or had their primary business there, so excluding Sudanese-born billionaire, Mo Ibrahim, who is a U.K. national.

The billionaire London resident, Mohamed Al-Fayed, an Egyptian citizen. Strive Masiyiwa, a citizen of Zimbabwe and a London resident appeared on the list due to his telecommunication holdings in Africa.

It added that the netb|net|cyberspace|information superhighway|world wide web|Infobahn} worth was calculated using stock prices and currency exchange rates from the close of business on Wednesday, Jan.19.

“To value privately-held businesses, we begin with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies,” Forbes said.

“Some list members grow richer or poorer inside weeks-or days-of our measurement date.”

Forbes is owned by Integrated Whale Media Investments and also the Forbes family and it features original articles on finance, industry, investing, and marketing topics.

It conjointly reports on connected subjects akin to technology, communications, science, politics, and law.

Nigerian Billionaires Dangote, Rabiu, and Adenuga Make Forbes' List Of Africa Richest People

Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga were listed within the ranking of richest individuals in Africa by Forbes, with a joint net worth of $27.6 billion, accounting for 32.5% of the entire eighteen billionaires on the list.

The wealth of African billionaires has grown considerably in 2021 despite the consequences of the pandemic. Altogether, the continent’s richest people are currently worth an estimated value of $84.9 billion, which represents a 15% increase compared to the previous year.

the growth is attributable to the rally within the stock prices of their corporations as there has been a rise in the demand for their products from cement to communications to Luxury goods.

Top 5 richest people in Africa

1. Aliko Dangote – $13.9 billion

Aliko Dangote has maintained the position of the richest man in Africa for the eleventh year in a row. he's presently worth $13.9 billion, an enormous increase from his worth of $12.1 billion last year.

Dangote Cement, his most beneficial company saw a rise in its stock worth last year, due to the increased demand for cement products across the country due to the increase in building and infrastructural development in Nigeria, which resulted in the 30% increase in the company’s stock price and a future increase of his web worth.

2. Johann Rupert & Family – $11 billion

The South African luxury products maker saw over a 60% increase in his company’s shares in 2021. the luxurious goods company Compagnie Financiere Richemont, which makes Cartier watches and Montblanc pens saw a large increase in demand last year.

This increase in demand led to an increase in his fortune from $7.2 billion to $11 billion making him the very best gainer, hereby moving him from the fourth position to 2nd.

3. Nicky Oppenheimer – $8.7 billion

The South African Diamond mine owner comes third in this list. He ran his Diamond mining company, DeBeers before marketing it to an American mining firm. he's worth $8.7 billion.

He was the third generation of his family to run DeBeers and took the organization private in 2001.

In 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which operates chartered flights. He owns a minimum of 720 sq. miles of conservation land across South Africa, Botswana, and Zimbabwe.

4. Nassef Sawiris – $8.6 billion

Nassef Sawiris is an investor and a descendent of Egypt’s wealthiest family. His most precious plus is a nearly 6% stake in athletic wear maker Adidas. In Dec 2020, he nonheritable a 5% stake in New York-listed firm Madison sq. Garden Sports, owner of the NBA Knicks and also the NHL Rangers teams.

Additionally, he runs OCI, one amongst the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange. His holdings embody stakes in cement giant Lafarge Holcim and Adidas; he sits on the higher-up board of Adidas.

5. Abdulsamad Rabiu – $7 billion

The Nigerian cement big businessman recently took another of his firms public, BUA Foods a sugar and food-producing firm.

One week after listing BUA Foods on the Nigerian securities market the share worth increased by 65% whereas he and his son put together owning a 98% stake within the company.

Subsequently, his net worth increased by $1.5 billion, making him the 5th richest man on the continent with an estimated net worth of $7 billion.

Source: Forbes


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