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Billionaire Watch

Meet the Sudanese-British billionaire behind the famous Mo Ibrahim Foundation

Mo Ibrahim is a Sudanese-born British businessman who became a billionaire after selling his communications company, Celtel to Kuwaiti investors.

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Meet The Sudanese British Billionaire Behind The Famous Mo Ibrahim Foundation

Anyone who follows trends in and around Africa must have come across the famous Mo Ibrahim Foundation. According to its official website, Mo Ibrahim Foundation is an African foundation established in 2006 and focused on the critical issues of governance and leadership in Africa.

It is devoted to improving the standard of leadership across Africa and has handed scholarships to thousands of African students.

In this article, we will look at the Sudanese billionaire championing this philanthropic effort.

READ: Is Donald Trump still a billionaire?

Who Is Dr Mo Ibrahim ?

Mo Ibrahim is a Sudanese-born British businessman who became a billionaire after selling his communications company, Celtel to Kuwaiti investors.

Mo Ibrahim founded Celtel Ltd in 1998 and sold it to Kuwait’s Mobile Telecommunications Company for $3.4 billion in 2005. He pocketed $1.4 billion from the deal.

He was born in Sudan where he lived for a while before his family moved to Egypt. He studied Electrical Engineering at Alexandria University and after he graduated, he moved back to Sudan to work in the National Telecommunication Board, Sudan Telecom.

READ: There are only 15 black billionaires in the world, here are the top 10

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British influence and career growth 

In 1974 Mo Ibrahim moved to England to gain his master’s degree in Electronic and Electrical Engineering at the University of Bradford. This was followed by a PhD in mobile communications from the University of Birmingham.

Dr. Mo Ibrahim had a brief stint teaching undergraduate telecommunications studies at the University of Greenwich before quitting to take up a Technical Director role at Cellnet, a subsidiary of the British telecommunication giant, British Telecom (BT).

He returned to Sudan, armed with enough experience and contacts to set up Celtel telecommunications which he eventually sold for $3.4 billion in 2005. He has since then, committed his time to his philanthropic efforts.

READ: The UK Royal Family is worth $28bn, here’s how they make their money

The Mo Ibrahim Foundation 

The Mo Ibrahim Foundation was founded in 2006 and its primary objective is to promote good governance across the African continent. The foundation pays a total of $5 million prize money to selected winners. The award targets African leaders who show stellar leadership and winners are selected by a prize committee made up of reputable Africans.

READ: Meet the bottled water billionaire who dethroned Jack Ma to become the richest man in China

What you should know 

  • Dr Mo Ibrahim is also a British citizen and he resides in the United Kingdom.
  • Dr Mo Ibrahim is one of the 15 black billionaires in the world with a net worth of $1.1bn.
  • Dr Mo Ibrahim is the richest Sudanese citizen.
  • President Mahamadou Issoufou was the 2020 winner of the Mo Ibrahim Prize for Achievement in African Leadership.

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I Am A Business Analyst And Digital Media Enthusiast Covering Wealth And Business Leaders. Follow Me On Twitter

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Billionaire Watch

Top 5 billionaires in Europe and what they do for money

The world billionaires list comprises an exciting set of European billionaires who made their fortune from unlikely areas.

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Top 5 billionaires in Europe and what they do for money

What would the world billionaires list look like without the American and Asian mavericks doing spectacular things in tech and other fields of endeavour? Take away these two groups and you would find an interesting crop of European billionaires who made their fortune from unlikely areas.

Today, we will look at the top five European billionaires and what they do for money.

5. Beate Heister & Karl Albrecht Jr. ($39.7 billion)

Beate Heister and Karl Albrecht Jr. are German nationals and children of the founder of one of the biggest supermarket chains in Germany.

Aldi Supermarket was founded by two brothers after World War 2 and it went on to become very successful. The brothers split at some point and one of them took over the supermarket and made a great success of it. Aldi is touted as the European Walmart.

Together, Beate and Karl Jr. are worth $39.7 billion.

READ: Mukesh Ambani, the richest man in Asia buys iconic $79m UK golf club with 900 years history

4. Francois Pinnault ($52.3 billion)

The Frenchman, Francois Pinault is the Chairman of the fashion group, Kerring which owns luxury brands like Yves Saint Laurent, Alexander McQueen and Gucci. He started his company as a wood and building materials company before diving into the lucrative world of luxury goods.

In 1999, he bought the controlling stake in Gucci Group and this kickstarted his journey into luxury products. Francois Pinault is currently worth $52.3 billion.

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3. Francois Bettencourt Meyers ($83 billion)

She is the richest woman in the world and the third richest in Europe. Francois Bettencourt Meyers is the granddaughter of the founder of the world-famous cosmetic brand, L’Oréal. She inherited the fortune after her mother who was also the richest woman died.

Francois Bettencourt and her family own a 33% stake in L’Oréal. The Frenchwoman is worth $83 billion.

READ: US Tech Boom: 7% increase in valuation as 2 fresh billionaires cross the $100bn mark

2. Amancio Ortega ($84.9 billion)

Amancio Ortega is one of the wealthiest clothing retailers in the world. He sits on top of Inditex, a fashion company that owns several brands with over 7,500 stores worldwide.

Inditex is listed and Amancio owns 60% of it. According to Forbes, he earns over $400 million in dividends every year.

Amancio Ortega is Spanish and he is worth $84.9 billion.

READ: Africa’s richest woman claims decision to freeze her assets was based on “fake passport”

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1. Bernard Arnaut ($180.1 billion)

He needs no introduction as we have done many articles on him already. He is the third richest man in the world and the president of Moet Hennessey Louis Vuitton Group (LVMH). His company is the biggest name in the luxury goods world with over 70 brands under it.

According to Forbes, he pulled off the biggest brand acquisition ever when he signed in January 2021, the American jeweller Tiffany & Co for $15.8 billion.

Bernard Arnaut calls himself the custodian of French heritage according to Forbes. His net worth is $180.1 billion.

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Billionaire Watch

Top 5 women who became billionaires after divorcing their husbands

The divorce of Bill and Melinda Gates is set to mint another woman billionaire.

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Bill & Melinda Gates Foundation

The divorce of Bill and Melinda Gates is set to mint another woman billionaire. Yesterday, Nairametrics reported on the first set of transactions made by Bill Gates to his ex-wife, Melinda.

She was transferred securities worth over $1 billion, already making her a billionaire. With more transfers set to come, we want to look at 5 other women who became billionaires after divorcing their husbands.

5 .  Sue Ann Arnall ($1 billion  

Sue Ann Arnall was the wife of oil baron and CEO of Continental Resources, Mr Harold Hamm. The 26-year-old marriage ended in 2015 with a handwritten check of a whopping $974 million to Sue Ann, which she initially rejected on the basis that it was too small. After a series of back and forth in court, however, she finally accepted the cheque.

Before the cheque, Harold Hamm had initially paid her over $20 million, driving the total settlement figure over a billion dollars.

Harold Hamm is currently the 247th richest man in the world with a net worth of $8.6 billion.

READ: There are only 15 black billionaires in the world, here are the top 10

4.  Sue Gross ( $1.3 billion )

The ex-wife of Bill Gross, the billionaire founder of the investment management firm, PIMCO, walked away from her 32-year-old marriage to the business mogul with a handsome $1.3 billion dollars. She started her own charity afterwards.

Bill Gross is currently worth $1.5 billion according to Forbes. He founded PIMCO in 1971 and it became one of the most successful investment management firms in America.

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READ: Squarespace founder is the latest billionaire, set to make $3bn from listing his company

3.  Elaine Wynn ( $2 billion ) 

Elaine Wynn is the ex-wife of Steve Wynn and she is a Co-Founder of the successful casino company, Wynn Resorts. After the couple divorced in 2012, she was transferred 11 million shares from the company which was valued at $795 million at the time.

Her ex-husband sold a substantial amount of shares later that year, which she also got a stake in. Today, her total shares from the Wyatt Resorts are worth over $2.3 billion according to Forbes.

READ: Is Donald Trump still a billionaire?

2.  Melinda Gates ($1.8 billion and counting) 

Melinda Gates is the latest billionaire divorcee on the block and she is already worth $1.8 billion after the first transfer of wealth. Her ex-husband, Bill Gates is the 4th richest man in the world. She will be worth over $60 billion if Bill Gates’ fortune is split evenly with her, although that is very unlikely.

1.  Mackenzie Scott ($57.7 billion) 

The ex-wife of the richest man in the world tops the list with a staggering $57.7 billion net worth. She met her ex-husband, Jeff Bezos when they both worked at a hedge fund in New York and she helped set up Amazon.

After her divorce from Bezos in 2019, she received 4% of Amazon shares which was valued at $35 billion then. Amazon stocks have witnessed a near 75% increase since then. She is currently worth $57.7 billion according to Forbes.

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What you should know 

Melinda Gates may top the list after the complete transfer of wealth by her ex-husband, Bill Gates.

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