Nigerian billionaires, Dangote, Rabiu and Adenuga are on Forbes list of Africa’s richest people

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Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu and Mike Adenuga have been listed in the ranking of the richest people in Africa by Forbes, with a joint net worth of $27.6 billion, or 32.5% of total net worth. 18 billionaires on the list.

The wealth of African billionaires has increased significantly in 2021 despite the effects of the pandemic. In total, the continent’s richest are now worth an estimated $84.9 billion, which is a 15% increase from the previous year.

The growth is attributed to rising share prices of their companies as there has been an increase in demand for their products, from cement to communications to luxury goods.

Top 5 richest people in Africa

  • Aliko Dangote – $13.9 billion

Aliko Dangote retained the position of the richest man in Africa for the 11th consecutive year. He is currently worth $13.9 billion, a huge increase from his value of $12.1 billion last year.

Dangote Cement, its most valuable company, saw its stock price increase last year, due to the increase in demand for cement products across the country due to the increase in construction development and infrastructure in Nigeria, which led to a 30% increase in the company’s turnover. share price and a subsequent increase in net worth.

  • Johann Rupert and his family – $11 billion

The South African luxury goods maker has seen its company’s shares rise by more than 60% in 2021. Luxury goods company Compagnie Financière Richemont, which makes Cartier watches and Montblanc pens, has seen a huge rise demand last year.

This increase in demand caused his fortune to increase from $7.2 billion to $11 billion, making him the highest earner, moving him from 4th to 2nd position.

  • Nicky Oppenheimer – $8.7 billion

The South African owner of the diamond mine comes third on this list. He ran his diamond mining company, De Beers, before selling it to an American mining company. He is worth $8.7 billion.

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

In 2014, Oppenheimer launched Fireblade Aviation in Johannesburg, which operates charter flights. It has at least 720 square miles of protected land in South Africa, Botswana and Zimbabwe.

  • Nassef Sawiris – $8.6 billion

Nassef Sawiris is an investor and a descendant of the richest family in Egypt. His most valuable asset is a nearly 6% stake in sportswear maker Adidas. In December 2020, he acquired a 5% stake in New York-listed Madison Square Garden Sports, owner of the NBA Knicks and NHL Rangers teams.

In addition, he runs OCI, one of the largest nitrogen fertilizer producers in the world, with plants in Texas and Iowa; it trades on the Euronext Amsterdam stock exchange. His holdings include stakes in cement giant Lafarge Holcim and Adidas; he sits on the supervisory board of Adidas.

  • Abdulsamad Rabiu – $7 billion

The Nigerian cement tycoon recently floated another of his companies, BUA Foods, a sugar and food manufacturing company.

A week after BUA Foods floated on the Nigerian stock market, the share price rose 65% as he and his son collectively held a 98% stake in the company.

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

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