Forbes recently released its annual exclusive billionaires ranking with only 4 Nigerians, Aliko Dangote, Mike Adenuga, Abdul Samad Rabiu and Folorunsho Alakija making the highly coveted list. Amongst the four, Aliko Dangote, President of Dangote Group retained his spot as the World’s richest black person with a fortune of USD10.1 billion. Mike Adenuga, Chairman of Globacom came in as second in Nigeria and third in Africa with a fortune of USD7.7 billion whilst Abdul Samad Rabiu of BUA Group was 3rd in Nigeria and 8th in Africa with a fortune of USD3.13 billion – moving up 8 places from last year’s ranking. Folorunsho Alakija of Famfa Oil completes the list of Forbes billionaires from Nigeria with a fortune of USD1 billion dollars coming in at #20 in Africa.
Of the four Nigerians on this year’s Forbes list, only BUA’s Abdul Samad Rabiu saw an increase in his fortunes from the previous year. Abdul Samad in January merged his Obu Cement Company with the publicly listed Cement Company of Northern Nigeria (CCNN) where he had controlling shares. The new entity listed as BUA Cement Plc on the Nigeria Stock Exchange became the third largest entity on the exchange with N1.18 trillion market capitalization.
According to Forbes, only eight of Africa’s 54 nations have billionaires in the list of Global billionaires. Egypt and South Africa are tied with five billionaires each, Nigeria four; Morocco has two, while Zimbabwe and Tanzania have one billionaire each. In the list, Africa’s 20 wealthiest people are richer in 2019 than 2018 with combined worth at $73.4 billion.
The magazine said the list was generated after the billionaires’ net worth was calculated using stock prices and currency exchange rates from the close of business on Friday, January 10, 2020. “To value privately-held businesses, we couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies. Some list members grow richer or poorer within weeks or days of our measurement date,” Forbes statement further added.
The current list shows that Nassef Sawiris of Egypt’s came second in Africa with his fortunes rising to 8billion dollars from $6.3billion.
Others on the list from Africa are: Nicky Oppenheimer $7.7 billion; Johann Rupert $6.5 billion; Issad Rebrab $4.4 billion; Mohamed Mansour $3.3 billion; Naguib Sawiris $3 billion; Patrice Motsepe $2.6 billion; Koos Bekker $2.5 billion; Yasseen Mansour $2.3 billion; Isabel dos Santos $2.2 billion; Youssef Mansour $1.9 billion; Aziz Akhannouch $1.7 billion; Mohammed Dewji $1.6 billion; Othman Benjelloun $1.4 billion; Michiel Le Roux $1.3 billion; Strive Masiyiwa $1.1 billion and Folorunso Alakija $1 billion.
Still on board.
I will join them soon, and I will top the list in Jesus name Amen
Please can you help sir..
Buas Abdul Samad Rabu and all the Muslim
I am glad as a Muslim you are Billanaries which you work very hard
May Allah give you the Blessing
Thank you
Reena Mahmood
I need join but an your helf
Comment:what a great achievement
Everything is wants get me life money I we blessed by God
So we nigerians have this kind of money, let us at least act as philantrophist to the poor masses.
Why “black” ? Why not “Africans” ??
Why use the word “only,” when discussing the four Nigerians? You didn’t use that word when mentioning the billionaires in South Africa and Egypt. They each have ONLY one more billionaire a piece than Nigeria! The world hates Nigeria, because it’s not a down- trodden, third-world Black African country – I don’t even need to say anymore.
Whether you make it to forbes list or not I think the most important thing in life is fear God and keep his commandments.