By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Aliko Dangote again has emerged Africa’s richest person alongside other Nigerian tycoons leading Africa’s 50 richest to top South Africa, according to the latest report released by Forbes, American business magazine.
The latest report says for the first time in the four (4) years that the business magazine has been tracking Africa’s richest, Nigeria bests South Africa.
Forbes says joining cement tycoon, Dangote who worth $21.6 billion are 12 other Nigerian businessmen which include Mike Adenuga, Folorunsho Alakija, Theophilus Danjuma, Tony Elumelu , Orji Uzor kalu and Femi Otedola all emerging sixth, twelfth and twenty second respectively, while Elumelu and Kalu tied at twenty sixth position, and in the twenty ninth place is Otedola.
In terms of net worth, Adenuga has $4.6 billion, Alakija $2.5 billion, Danjuma $1.1 billion, while Elumelu and Kalu tied at $1.0 billion each. Otedola and Ovia are worth $900 million and $850 million respectively.
Other Nigerian business tycoon on the list include Jim Ovia in the thirtieth position, Abdulsamad Rabiu thirty-third, $700 million Mohammed Indimi thirty-seventh, $670 million, Tunde Folawiyo thirty-ninth, $650 million Hakeem Belo-Osagie and Oba otudeko placing forty-first and forty-sixth earning $600 million and $550 million respectively.
The report noted that there are four (4) new billionaires on the list; three (3) Nigerian and one (1) Moroccan mentioning Kalu, Elumelu, Danjuma and King Mohammed VI of Morocco as the new kids on the block.
“That brings the number of billionaires on the list to 28, up one from 27 last year. Three billionaires on last year’s list are no longer members of the 10-figure club: Vimal Shah of Kenya is off the list, replaced by his father Bhimji Depar Shah at a lower net worth. Abdulsamad Rabiu of Nigeria dropped below $1 billion due to ceased operations at his floating cement terminal in Nigeria. (Note: In early December, additional information from Rabiu led Forbes to revise our estimate of his net worth back up to $1.1 billion.) his And South African mining mogul Desmond Sacco dropped to a net worth of $680 million, down from $1.4 billion last year, because of a sharp decline in the share price of his mining firm Assore Group,” the report affirmed.
Forbes revealed that Africa’s 50 richest are, as a whole, wealthier than a year ago. “Their combined net worth of $110.7 billion is 6.7% more than in November 2013. The minimum net worth needed to join this elite group rose to $510 million, up from $400 million a year ago,” the report noted.
The Forbes report disclosed that behind Dangote comes South African luxury goods magnate Johann Rupert, number two for the second year in a row, worth an estimated $7.3 billion. “His Compagnie Financiere Richemont has a stable of luxury brands including Cartier, Montblanc and fashion house Azzedine Alaia,” Forbes added.
According to the report, six (6) newcomers joined the list of richest Africans, including the above mentioned new billionaires, as well as Ali Wakrim of Morocco and Ahmed Ezz of Egypt. Mohamed Bensalah of Morocco rejoins the list after dropping off in 2013.
Forbes says seven (7) members of the 2013 list fell off: Vimal Shah of Kenya (as mentioned earlier, his father Bhimji replaced him), Cyril Ramaphosa of South Africa, Raymond Ackerman of South Africa, Sani Bello of Nigeria, Adrian Gore of South Africa, Shafik Gabr of Egypt, and Alami Lazraq of Morocco.
The report noted that the oldest person on the list is 85 – both Miloud Chaabi of Morocco and Onsi Sawiris of Egypt share that age. “The youngest is Mohammed “Mo” Dewji of Tanzania, age 39. The number of women on the list is two, unchanged from a year ago. Thirty-five of the fortunes were self made; two were inherited and the remaining 13 were inherited but are being expanded. The average net worth of a list member is $2.2 billion, compared to $2.1 billion a year ago,” Forbes said.
The report says in comparison South Africa claims 11 spots, down from 14 a year ago. Nigeria is showing its strength, having earned commendations for its efforts to snuff out Ebola in the country, which Dangote helped fund — and despite a recent drop in oil prices.
