For the eight-consecutive year, Nigeria’s Alhaji Aliko Dangote, the President of Dangote Group, is Africa’s richest man. According to the latest Forbes ranking of Africa’s billionaires, Dangote has an estimated net worth of $10.3 billion. The 61-year old industrialist and investor maintains his command as Africa’s richest person on the latest Forbes ranking though his fortune dropped by about $2 billion due largely to about 20% drop in stock price of Dangote Cement, his most valuable asset.
With a $3.9 billion increase in his financial fortune in 2018, Otunba Mike Adenuga’s current net worth of $9.2 billion makes him the second richest person on the African continent. Adenuga owns Nigeria’s third-largest telecoms network Globacom and has vast oil and gas and real estate investments. By the current Forbes ranking, Adenuga, often called ‘The Bull’ by his admirers, is now $800 million from Dangote in wealth.
Another Nigerian, Alhaji Abdulsamad Rabiu, the Chief Executive Officer of BUA Group, returned to the list for the first time since 2015. He has an estimated net worth of $1.6 billion and occupies 16th position on the list.
Mrs Folorunsho Alakija, also a Nigerian, whose net worth dropped from $1.3 billion to $1.1 billion, is ranked as the 19th richest African. Alakija is the vice chair of an indigenous oil exploration firm Famfa Oil.
Besides Alakija, the other woman on the list is Isabel dos Santos, the eldest daughter of former Angolan President Jose Eduardo dos Santos. Having an estimated net worth of $2.3 billion, Isabel dos Santos, 45, is Africa’s richest woman.
Tanzania’s Mohammed Dewji is the youngest billionaire on the list. The Chief Executive Officer of METL, a conglomerate founded by his father, has an estimated net worth of $1.9 billion. He signed the Giving Pledge in 2016, promising to donate at least half his wealth to charity.
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