Last updated on January 29th, 2022 at 07:51 am
For the 11th time in a row, the Chairman of Dangote Group Alhaji Aliko Dangote has again been rated as the wealthiest in Africa, according to Forbes 2022 list which was released on January 24, 2022.
Despite the pandemic that ravaged many businesses between 2021, the latest list shows that the Nigerian billionaire’s wealth grew from $12.1 billion to an estimated net worth of $13.9 billion. That’s 30 per cent growth.
Forbes attributed the growth in Aliko Dangote’s wealth to the sterling performance of Dangote Cement on the Nigerian Exchange.
At the end of 2021, Bloomberg put his wealth at $19.2 billion. Remember, Bloomberg and Forbes, use different indicators to measure wealth.
Other Nigerian billionaires that made the top 10 richest Africans are 1) Abdul Samad Rabiu and Mike Adenuga.
Earlier in our reports, we reported how the market capitalisation of BUA Foods stocks grew astronomically, making BUA Founder to take the position of GLO Founder as the second richest Nigerian man.
At the time of publication, Abdul Samad Rabiu is sitting on $7 billion, making him the fifth richest African billionaire while Mike Adenuga who is now in the third position in Nigeria is ranked as the sixth African richest man, sitting on a net worth of $6.7 billion.
The report noted that Africa’s billionaires were richer than they had been in years, despite the outbreak of covid-19.
Jumping from number four (2021) to number two in the 2022 ranking is the South African Fashion and retail business mogul Johann Rupert.
It’s revealed that more than a 60 per cent surge in the share price 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 biggest dollar gainer on the list.
Another South African who occupied third place is Nicky Oppenheimer, who formerly ran diamond mining firm DeBeers before selling it to mining firm Anglo American a decade ago, worth an estimated $8.7 billion.
“To value privately-held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies”.
Forbes List 2022 for African Wealthiest
Below is the full list of African business moguls who control the largest wealth of the continent.
|Rank||Name||Net Worth||Business Interests|
|2||Joann Rupert||$11Billion||Fashion and retail|
|3||Nicky Oppenheimer||$8.7 Billion||Metals and Mining|
|5||Abdul Samad Rabiu||$7Billion||Diversified|
|7||Issad Rebrab||$5.1Billion||Food and beverage|
|9||Patrice Motsepe||$3.1Billion||Metals and Mining|
|10||Koos Bekker||$2.7Billiom||Media and entertainment|
|13||Aziz Akhannouch and Family||$2.2Billion||Diversified|
|14||Michiel Le Roux||$1.7Billion||Finance and investment|
|15||Othman Benjelloun and family||$1.5Billion||Finance and investment|
- Dolan, Kerry (January 24, 2022). “Forbes 2022 Africa’s Billionaires”. forbes.com. Retrieved January 25, 2022