Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga were listed in the ranking of richest people in Africa by Forbes, with a joint net worth of $27.6 billion, accounting for 32.5% of the total 18 billionaires on the list.
The wealth of African billionaires has grown significantly in 2021 despite the effects of the pandemic. Altogether, the continent’s richest are now worth an estimated amount of $84.9 billion, which represents a 15% Increase compared to the previous year.
The growth is credited to the rally in the stock prices of their companies as there has been an increase in the demand for their products from cement to communications to Luxury goods.
Top 5 richest people in Africa
Aliko Dangote – $13.9 billion
Aliko Dangote has maintained the position of richest man in Africa for the 11th year in a row. He is currently worth $13.9 billion, a huge increase from his worth of $12.1 billion last year.
Dangote Cement, his most valuable company saw an increase in its stock price last year, owing to the increased demand for cement products across the country due to the rise in building and infrastructural development in Nigeria, which resulted in the 30% increase in the company’s stock price and a subsequent increase of his net worth.
Johann Rupert & Family – $11 billion
The South African luxury goods maker saw more than a 60% increase in his company’s shares in 2021. The luxury goods company Compagnie Financiere Richemont, which makes Cartier watches and Montblanc pens saw a huge increase in demand last year.
This increase in demand led to a rise in his fortune from $7.2 billion to $11 billion making him the highest gainer, hereby moving him from 4th position to 2nd.
Nicky Oppenheimer – $8.7 billion
The South African Diamond mine owner comes third in this list. He ran his Diamond mining company, De Beers before selling it to an American mining firm. 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 started Fireblade Aviation in Johannesburg, which operates chartered flights. He owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe.
Nassef Sawiris – $8.6 billion
Nassef Sawiris is an investor and a scion of Egypt’s wealthiest family. 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 firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams.
Additionally, he runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam 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 took another of his companies public, BUA Foods a sugar and food manufacturing firm.
One week after listing BUA Foods on the Nigerian Stock market the share price increased by 65% while he and his son collectively owning a 98% stake in the company.
Subsequently, his net worth increased by $1.5 billion, making him the 5th richest man on the continent with an estimated net worth of $7 billion.